Disclosure Instructions 2018

Disclosure Instructions Applicable to Amman Stock Exchange PSC. of the Year 2018

Issued Pursuant to Article (8) of the Articles of Incorporation of Amman Stock Exchange, PSC. and approved by the Board of Director as per Resolution No. (5/2018) of (31/1/2018)

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Article (1):

These Instructions shall be cited as the Disclosure Instructions Applicable to Amman Stock Exchange PSC for the Year 2018 and shall enter into force as of 1/3/2018.

 

Article (2):

A. Following words and phrases shall have the meanings assigned thereto hereunder unless the context indicates otherwise:

Commission: The Securities Commission

Stock Exchange: Amman Stock Exchange PSC

Board of Directors: the Board of Directors of the Stock Exchange.

CEO: The Chief Executive Officer of the Stock Exchange.

Member: The broker joining the Stock Exchange as a member or any other entity as decided by the Board of Directors.

B. Words and phrases not defined under these Instructions shall have the meanings given thereto under the Securities Law and the legislations issued by the Stock Exchange unless the context indicates otherwise.

 

Article (3):

The Stock Exchange shall disclose the following information:

  1. The decisions issued by the Stock Exchange to regulate the affairs of the market.

  2. Entities issuing securities traded in the Stock Exchange.

  3. Securities suspended from trading.

  4. Names and addresses of Members.

  5. Members suspended from doing business.

  6. Brokers licensed to work in the Stock Exchange.

  7. Licensed brokers suspended from working in the Stock Exchange.

  8. Daily, weekly, monthly, and annual bulletins on the trading of securities traded in the Stock Exchange.

  9.  Financial statements of the Members.

B. The Stock Exchange shall immediately disclose information and data it receives which may have an impact on the prices of securities and trading.

C. The Stock Exchange may disclose violations committed by Members and parties related thereto and the penalties to which the same were subjected.

D. Disclosure shall be made through the website of the Stock Exchange and/or any other programs or means as the Stock Exchange deems appropriate.

 

Article (4):

Following information and data shall be considered confidential and only the CEO and the competent officers of the Stock Exchange shall have access thereto:

  1. Information and data that come to the knowledge of the Stock Exchange officers upon accessing the trading system.

  2. Information relevant to the names of securities traders, the volume of their dealings, and any other information relevant to their dealings.

  3. The deliberations of the Board of Directors.

  4. Information submitted to the Stock Exchange by governmental entities, the Commission, the Securities Depositary Centre which are considered confidential by its nature.

  5. Information that come to the knowledge of the Stock Exchangeupon investigation, inspection, audit and dispute settlement.

  6. Any other information or data that the Board of Directors, based on the recommendation of the CEO, consider to be confidential.

B. The Board of Directors shall have the right to access the information provided in Paragraph (A) of this Article as needed to dispose of its duties.

 

Article (5):

  1. The CEO shall provide information and data provided in subparagraphs (1-4) of Article (4/A) of these Instructions to the competent judicial authorities upon a written request therefrom.

  2. Subject to Paragraph (A) of this Article, the CEO may, after attaining the approval of the Board of Commissioners, provide the information described in subparagraph (5) of Article (4/A) of these Instructions to the competent judicial authorities upon a written request therefrom.

  3. Subject to the provisions of Paragraphs (A, B) of this Article, the CEO may, after attaining the approval of the Board of Directors, provide the information described in subparagraph (6) of Article (4/A) of these Instructions to the competent judicial authorities upon a written request therefrom.

 

Article (6):

the Chairman and the members of the Board of Directors shall disclose to the Board of Commissioners the Jordanian securities the same and the relatives thereof owns, the shareholding/ participation thereof in any financial services company, and any change that affect the aforementioned within seven days of such change.

 

Article (7):

  1. Subject to legal liability, Chairman and members of the Board of Directors, CEO, Stock Exchange Officers, External Legal Council of the Stock Exchange and the Auditor thereof shall not disclose information and data provided in Article (4) of these Instructions, which come to the knowledge thereof due to their work duties.

  2. A representative to a member in the Board of Directors shall not disclose information that are considered confidential under these Instructions to the entity that the same represents.

  3. Persons mentioned in Paragraph (A) of this Article shall not exploit, whether directly or indirectly, confidential information and data that come to their knowledge due to their job duties to realise any financial or moral gains to their own benefit or to the benefit of others.

 

Article (8):

Subject to the provisions of Article (4) of these Instructions, the Stock Exchange may provide other exchanges and other entities relevant to stock markets with the information and data such entities requests and it may cooperate therewith for the publication of such information and data.

 

 

 

Article (9):

The Board of Directors shall issue the decisions needed to address any issue not provided for under these Instructions.

 

Article (10):

Disclosure Directives for Amman Stock Exchange of the year 2004 issued pursuant to Paragraphs (3, 4) of Article (14/B) of the Internal Bylaw of the Stock Exchange of the Year 2004 shall be cancelled.

 

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