A Board known as the (Board of Commissioners of the Commission) shall undertake the administration of the Commission and the supervision of its affairs. The Board shall be composed of five full time Commissioners, provided that each Commissioner shall be a Jordanian, a holder of at least a Bachelor Degree, be experienced and specialized in financial or economic or legal affairs and not a minister or a member of Parliament or a public employee, or an employee in a public institution or in a municipality, or a member or an employee in any company or institution.

Commissioners, including the Chairman and the Deputy Chairman, shall be appointed for a four-year term renewable once, by a decision of the Council of Ministers upon the Prime Minister’s recommendation, endorsed by a Royal Decree. Any Commissioner may be replaced by another for the outstanding period of the Board’s term in accordance with the same procedures.

Upon assuming his duty, each Commissioner shall declare in writing to the Board any securities which are owned thereby, at his disposal or at the disposal of any of his relatives thereof, as well as any shares or contributions in any Financial Services Company owned thereby, or at his disposal or at the disposal of any relatives thereof. The Commissioner shall also declare in writing to the Board any changes to the aforementioned within three days of his knowledge of such changes thereof.

The Commissioner shall not practice any other profession or assume any other job, including occupying a ministerial post, being a member of Parliament, or occupying any other post or job in the Government, an official public institution, public institution, a municipality, or any company or institution. He shall not be in a position to influence the decisions of such entities or acts in a consultative capacity thereto. 

Chairman and Deputy Chairman

The Chairman shall be the Commission’s Chief Executive and Chief Financial Officer. He shall be responsible for implementing the Commission’s policy and management of its affairs. As such, he shall assume implementing the decisions adopted by the Board, signing contracts as authorized by the Board and signing, solely or jointly with others, the reports, accounting data, financial statements, correspondence and documents of the Commission.

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 post becomes vacant. The Commissioners shall undertake the duties and functions assigned thereto by the Chairman. The Chairman may delegate any of his powers stipulated in this Law to any Commissioner and may also delegate any of his powers to any specialized employee at the Commission, provided the delegation shall be in writing and specific.

Authorities and Responsibilities of the Board of Commissioners

The Board shall assume all the necessary authorities to achieve the Commission’s objectives in accordance with the provisions of this Law, and carry out the responsibilities and authorities stipulated in accordance with its provisions, including the following:

A. Formulating the Commission’s general policy and developing the programs necessary for its implementation.
B. Approving the trading of any security outside the Financial Market.
C. Approving the listing of any Jordanian security on any trading markets in securities outside the Kingdom.
D. Deciding on the applications for the registration of securities upon the Chairman’s recommendation.
E. Suspending or ceasing dealing in any security for the period it deems appropriate. 
F. Approving the establishment and registration of Mutual Funds.
G. Granting the license and registration issued pursuant to the provisions of this Law.
H. Restricting, suspending, ceasing or canceling, for the period it deems necessary, the licensing or registration granted to any person.
I. Setting the fees for issuing licenses or registrations or for renewals thereof.
J. Approving the services fees, charges and commissions, charged by the Financial Market and the Center pursuant to their respective By-Laws.
K. Setting the minimum and maximum limits of commissions which the Financial Services Companies and Licensed Persons charge their clients for.
L. Adopting the accounting and auditing standards, and performance evaluation standards to be followed by the parties subject to the Commission’s monitoring.
M. Setting the standards and eligibility conditions required for auditors qualified to audit the accounts of the entities subject to the Commission’s monitoring and supervision.
N. Setting the Rules of Governance for any of the entities subject to the Commission’s monitoring.
O. Issuing a Code of Conduct to regulate the Commission’s employees dealing with investors in a manner that guarantees mutual respect.
P. Establishing cooperative relations with Arab and foreign Securities Commissions and with Arab, regional and International Organizations specialized in capital markets.
Q. Reviewing decisions relevant to dealing in securities issued by the Financial Market and the Center and repealing the implementation of any of such decisions.
R. Issuing the required instructions for administering the Commission, and any other instructions or decisions to implement the provisions of this Law and the regulations issued pursuant thereto, or amending or repealing such.
S. Preparing draft laws and regulations related to securities.
T. Preparing the Commission’s annual budget and submitting it to the Council of Ministers for endorsement.
U. Any other matters that the Chairman presents to the Board.