Capital Market Law
The Capital Market Authority will be established once the Capital
Market Authority Law is enacted. In principle, the draft legislation
governs the securities, insurance, housing finance, mortgages,
pensions and all other non-banking financial activities. The CMA,
under this law, will be responsible for licensing, regulation and
supervision of all non-banking related financial activities, functions
and entities.
The securities market will be further regulated by the draft
Securities Markets Law of 1998, which will apply to activities
conducted in Palestine that affect the local securities market.
The law will govern the activities of securities markets, participants
in those markets including the PSE, securities companies, investment
and financial advisors, brokerage firms, clearing and settlement
institutions, investment and fund managers and institutions,
and the offering and sale of securities to investors.
The law will be administered by the future Palestine Securities
Commission. The commission will be an autonomous governmental
institution that will create a stable and safe environment for
securities trading. It will regulate, develop and monitor securities
trading markets, and protect securities holders, investors and
the public from fraud, deceit and unfair practices.
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