The Capital Market Commission

The Capital Market Commission (SCMN) is defined by law as an independent regulatory authority responsible for regulating and governing the issuance of securities and securities trading.

Its operating framework is in accordance with internationally accepted standards set by the International Organization of Securities Commissions (IOSCO) and EU Legislation (EU Acquis), as well as the regulations established by the European Securities and Markets Authority (ESMA).

Vision and Main Functions

The Commission is committed to putting in place a modern and effective regulatory architecture for the capital market and to achieve its goals in a clear set of objectives:

• Provide a fair, efficient, and transparent capital market that protects the interests of investors and reduces the risk of systemic issues.

• Regulate the issuance of securities and supervise markets relating to the trading of securities.

• Oversee the capital market system as a whole with sufficient supervisory controls.

• Educate and inform market participants with a view to improving knowledge, understanding, and compliance.

• Inform the public and market participants about what is happening in real-time across various capital market dimensions, developments, trends, and innovations.

• Build internal strategic capability and constantly refine efficiency across its operations.

Continuous Market Supervision

The Commission conducts continuous monitoring of individuals and companies that provide professional services in the securities markets.In doing so, the Commission promotes high standards of investor protection and maintains transparency and integrity in the capital markets at all levels of operations.

International Cooperation

The SCMN actively engages in international cooperation to ascertain that its regulatory practices align with global standards:

• It is a full member of IOSCO and an MMOU signatory, which allows for work with other regulatory authorities that are IOSCO members and signatories of the MMOU to share information and cooperate.

• The Commission has also signed several Memoranda of Understanding (MOUs) directly with regional regulatory authorities on cooperation and data sharing, particularly focusing on the control of anti-money laundering (AML) and customer financing terrorism (CFT).

• SCMN is also an approved signatory to an ESMA Memorandum of Cooperation with ESMA member states on Alternative Investment Funds.