Compliance Officers Training and Certification Program for Financial Services Companies on May 2014
02-Jun-2014
Jordan Securities Commission JSC held a Compliance Officers Training and Certification Program for Financial Services Companies FSC between May 11 and 22. 2014. The aim of the Program is to continue cooperation with FSC, to promote awareness and to educate involved parties in the national capital market in all technical issues as well as to enroot legislative concepts.
The Program identified the role and the importance of the Compliance Officer of developing and regulating companies businesses and supporting their internal controls by auditing businesses of their various departments and submitting the necessary reports and recommendations to the company’s management. The Compliance Officer shall also follow up legislative developments regulating the capital market and cooperate with capital market institutions: the JSC, the Amman Stock Exchange ASE and the Securities Depository Center SDC to be fully aware of and familiar with these legislations and to follow up their implementation by FSC and their dealers.
The Compliance Officer is a Natural Person technically registered by the JSC. He is exclusively assigned to this position by the FSC; one of the positions created by the Instructions to Financial Services Licensing and Registration for the year 2005 that came into effect as of October 4.2005.
The Board of Commissioners defined the Principles to Register Compliance Officers among which is to attend a training program and to pass an exam approved by the Commission.