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                About JSC >> Board of Commissioners
                 
                 

                The JSC is managed by a Board of five full-time qualified commissioners including the Chairman and his Deputy. Commissioners are appointed for a five-year term renewable once, by a decision of the Council of Ministers, based on a recommendation by the Prime Minister, and endorsed by a royal decree. The commissioners are obliged by the law to declare in writing immediately upon appointment their ownership of securities and their families. The commissioners shall not practice any other profession or assume any other job. The Commissioners shall not be in a position to influence the decisions of such entities or act in a consultative capacity thereto. 

                The Board of Commissioners is assigned a number of tasks which include drafting legislation and regulations, issuing instructions, approving bylaws and instructions of the ASE and SDC, granting licenses to financial services companies and capital market registered persons, approving the registration of securities and mutual funds, auditing, and performance evaluation, which all parties subject to the supervision of the Commission must follow.

                Chairman and Deputy Chairman:

                1. The chairman shall be the Commission’s Chief Executive and Chief Financial Officer. He shall be responsible for implementing the Commission’s policy and the management of its affairs. As such , he shall assume the following:
                  • Implementing the decisions adopted by the Board;
                  • Signing contracts as authorized by the Board;
                  • Signing, solely or jointly with others, the reports, accounting data, financial statements, correspondence, and documents of the Commission.
                2. The Deputy Chairman shall perform the duties and functions assigned to him by the Chairman and shall exercise the powers of the Chairman in his absence or if his past becomes vacant.
                3. The Commissioners shall undertake the duties and functions assigned thereto by the Chairman.
                4. The Chairman may delegate any of his powers stipulated in this Law to any Commissioner. He may also delegate any of his powers to any employee of the Commission, provided the delegation is in writing and specific.

                Current Members of the Board of Commissioners:

                The Board of Commissioners consists of five qualified Commissioners including the Chairman and his Deputy. Commissioners are appointed by a decision of the Council of Ministers, based on a recommendation by the Prime Minister and endorsed by a royal decree.

                 

                 





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