Wednesday, June 25, 2008

The Oman Law Digest 2009 - INVESTMENT REGULATIONS

The CMA was established pursuant to Capital Market Law [RD 80/98 as amended]. It is empowered to regulate all matters relating to public joint stock companies and securities activities in Oman including offering of securities, information requirements in prospectus for offering securities for public subscription, activities of MSM [RD 53/88], investment service, brokerage activities, and investment companies’ activities. Pursuant to RD 90/04, the CMA also has jurisdiction over insurance matters.

Securities of public and closed joint stock companies are traded through MSM.

MDSRC was established by RD 82/98 as the sole service provider for the registration and transfer of ownership of securities and safekeeping of ownership documents (depository).

CMA has issued various rules in relation to public joint stock companies and securities including the Code of Corporate Governance [CMA Circular 11/02], Rules for Election of Board of Directors, Rules on Disclosure and rules for placement of funds in non-Omani securities.