1. In pursuit of its objectives and in accordance with the provisions of this Decree by Law and the Relevant Legislation, the Authority shall exercise the following competencies: a. To verify the compliance of persons subject to the Authority’s supervision with the Capital Market Regulation Law, and the regulations and rules issued in implementation thereof, and the Relevant Legislation. b. To propose necessary legislation for the regulation of the Capital Market in the State, and to supervise and oversee the enforcement of the provisions of this Decree by Law and the Relevant Legislation, after being approved by the Cabinet. c. To propose, develop, and implement the policies and strategies related to the regulation of the Capital Market in the State after being approved by the Cabinet. d. To issue the regulations, rules, manuals, circulars, and decisions necessary for the regulation of the Capital Market. e. To mitigate systemic risks associated with the Capital Market and support financial stability therein, in order to ensure the continuity of systemically significant Financial Activities within the scope of the Authority’s competence. f. To supervise and oversee the Financial Activities, Licensed Persons, the Issuer, the members of their Board of Directors and Executive Management, and their employees, as well as Foreign Issuers where Foreign Securities are traded within the State, and any dealings in Foreign Securities therein, including Securities transactions and any person related thereto. g. To deter, prevent, and detect any unlawful conduct that causes or may cause prejudice to the integrity or efficiency of the Capital Market, including the imposition of administrative sanctions or referral to competent judicial authorities in accordance with applicable legislation. h. To conduct inspections n a periodic basis or at any time, of persons subject to the Authority’s supervision and oversight within the State and any of their branches, parent companies, holding companies, subsidiaries, sister, or affiliate companies, within or outside the State, including their auditors and any other person proven to have a relevant connection to the subject of inspection, in coordination with the Relevant Authorities and concerned authorities. i. To implement policies and systems to enhance efficiency, disclosure, transparency, governance, and management of conflicts of interest, in order to promote confidence in the Capital Market. j. To develop Financial Activities and services related to the Capital Market in accordance with strategies aligned with future directions and priorities, digital development, and financial technology principles, so as to ensure leadership and sustainability, within the scope of the Authority’s competence. k. To support regulatory sandbox applications for unregulated Financial Activities in line with global market developments until they are regulated and licensed pursuant to the legislation in force in the State, in coordination with concerned authorities. l. To regulate mutual recognition of Financial Activities and Securities, dual licensing, cross-registration procedures, and any other mechanisms with counterpart regulatory authorities outside the State or within Financial Free Zones, determining their types and limits of application in accordance with procedures followed in the State. m. To propose accession to international treaties and agreements, and to propose memoranda of understanding and cooperation agreements with the countries, organizations, markets, unions, and Gulf, regional, or international authorities related to the Authority’s activities and competences, or to sign them or accede thereto, in coordination with the Ministry of Foreign Affairs and the concerned authorities. n. To represent the State in regional and international organizations, unions, authorities, events, and conferences, within fields the fields falling under the Authority’s competence, after coordination with the Ministry of Foreign Affairs. o. To organize professional and scientific activities, including conferences, seminars, lectures, training programs, and awareness initiatives related to the Authority’s competencies, to cooperate with the concerned authorities. p. Any other competences conferred upon the Authority pursuant to laws, regulations, or resolutions issued by the Cabinet. 2. Upon exercising the competencies referred to in Clause (1) of this Article, the Authority shall: a. Ensure the optimal utilization of its resources. b. Exercise its powers and perform its duties with transparency. c. Comply with the recognized relevant principles of good governance. d. Cooperate with the Relevant Authorities and regulatory and supervisory authorities, within or outside the State, provided that such cooperation does not conflict with the legislation in force. 3. The Authority shall exercise the competencies granted thereto under this Decree by Law and the Relevant Legislation within the State, excluding the Financial Free Zones.
Interpretation and application must be checked against the official text and current version.