The Board shall be the supreme authority of the Authority and shall oversee the conduct of its affairs, and, for that purpose, shall exercise the following: 1. To approve the policies, strategies, and legislation relating to the competences entrusted to the Authority, in coordination with the concerned authorities in the State, and submit the same to the Cabinet for approval. 2. To adopt the general policy of the Authority, its strategic plans, and the necessary programs and projects, in accordance with the procedures followed in this regard. 3. To approve the rules, regulations, and work plans necessary for the proper functioning of the Authority. 4. To approve the organizational structure of the Authority and submit the same to the Cabinet for approval. 5. To approve the annual budget and the final account of the Authority, provided that they shall be adopted in accordance with the Public Finance Law in force. 6. To approve the institutional governance rules of the Authority, comprising a set of rules and systems aimed at achieving quality and excellence in performance, in line with its strategic plans and its objectives, in compliance with the best international standards and approve its membership in specialized international authorities. 7. To determine and recognize Self-Regulatory Institutions, regulate their powers and supervisory and regulatory roles, and revoke such recognition, or suspend, or amend any of the powers granted thereto, in accordance with regulations issued thereby. 8. To consent to the establishment of any professional institution or association related to the Capital Market or any Financial Activities within the scope of the Authority’s competence prior to its establishment, in accordance with the legislation in force in the State, the conditions set by the Authority, and in coordination with the concerned authorities. 9. To revoke, amend, restrict, suspend, stay the implementation of, or reinstate any resolution issued by the Board, as well as any internal controls, decisions, or circulars issued by Capital Market Institutions, in coordination with such institutions, whenever the public interest so requires. 10. To suspend the activities of any Capital Market Institution in case of exceptional circumstances or where the proper and orderly functioning of work is threatened. 11. To suspend or halt dealings in any Financial Product under exceptional circumstances or where the proper and orderly functioning of work is threatened. 12. To approve the fees, commissions, and service charges collected by the Authority in implementation of the provisions of this Decree by Law and the Capital Market Regulation Law. 13. To establish advisory committees or boards as it deems appropriate to assist in the performance of its duties and competences, and to supervise their performance in accordance with the legislation in force in this regard. Such committees or boards may include members from outside the Authority, and the Board shall adopt appropriate procedures to ensure compliance with professional and international standards, work controls, and governance requirements. 14. To consent to the conclusion of treaties, agreements, and memoranda of understanding in implementation of the Authority’s competences, in accordance with the procedures followed in this regard. 15. To issue the rules, regulations, rules, manuals, circulars, and resolutions relating to the regulation of the Capital Market, and to suspend, amend, withdraw, revoke, or update the same, in coordination with concerned authorities, including: a. Regulating the operations and activities of Capital Market Institutions, and determining the types of Securities and Foreign Securities traded therein. b. Regulating the Financial Activities and Licensed Persons, including their financial fitness, and determining the professions and positions related thereto, as well as standards of professional conduct. c. Determining the headquarters required for conducting Financial Activities, and any of its branches, whether within the State, abroad, in a Free Zone, or in a Financial Free Zone, in accordance with the applicable conditions and requirements. d. Regulating the controls governing the licensing and conduct of Financial Activities by companies and institutions in Financial Free Zones that wish to operate within the State outside such zones, and by companies and institutions outside the State wishing to conduct Financial Activities within the State outside the Financial Free Zones, and determining the place of conducting the Financial Activity in accordance with the Authority’s decisions. e. Regulating the activities and operations of the Market and Financial Activities in the Free Zones, where their legislation permits the conduct of financial activities within such zones. f. Regulating platforms for the trading of specific types of financial products and all transactions, rights, activities, and financial services associated therewith. g. Regulating dealings in Securities and Foreign Securities within the State, whether the Issuer or Foreign Issuer is within the State, abroad, in a Free Zone, or in a Financial Free Zone. h. Determining and regulating that issue Securities, and the types and classes thereof. i. Regulating investor transactions, offering, issuance, promotion, definition, evaluation, auditing, and any other transactions or rights related to Securities and Foreign Securities listed on the Market. j. Regulating investor transactions, and the offering, issuance, promotion, definition, evaluation, auditing, disclosure, deposit, settlement, clearing, transfer of ownership, custody, registration, financing, transfer, delivery, and any other transactions or rights related to Securities and Foreign Securities not listed on the Market. k. Regulating the establishment and licensing of investment funds, determining their legal form in accordance with its conditions and procedures, and regulating their issuances and the classes and types thereof. l. Regulating collective investment, and any other funds, entities, or other investment structures established. m. Regulating the operations and procedures of central clearing substituting contracting parties. n. Regulating and determining the standards for managing and disclosing conflicts of interest for entities and persons subject to its supervision and oversight. o. Regulating the governance of Licensed Persons, taking into account governance requirements issued by Relevant Authorities, as applicable. p. Regulating the mechanisms, practices, and transactions of Financial Activities and their practitioners, insofar as accepted or determined by the Authority within its competencies and objectives. q. Regulating the cash balances in dormant accounts held by Licensed Persons, excluding Capital Market Institutions, the proceeds thereof, and regulating their disposition. r. Issuing decisions concerning the prevention and detection of money laundering and terrorist financing, including customer due diligence procedures, continuous monitoring of their transactions, recordkeeping, procedures for providing information and records to the Authority and competent authorities, and mechanisms for imposing and implementing appropriate risk-mitigation policies and procedures, without prejudice to the legislation in force in the State concerning anti-money laundering, combating the financing of terrorism and proliferation financing. s. Regulating and establishing rules governing the provisions, conditions, and procedures relating to guarantees, freezing, pledge, attachment, enforcement, financing, custody, ownership of financial products, and the conditions and procedures for termination thereof, and any related conditions or procedures. 16. Any other competencies or powers conferred upon it pursuant to the laws, regulations, or resolutions of the Cabinet.
Interpretation and application must be checked against the official text and current version.