Rules and Regulations
The Stock Exchange has a primary aim to provide issuers, intermediaries and investors with an attractive, efficient and well-regulated market in which to raise capital and fulfil investment and trading requirements.
The Capital Market Development Authority (CMDA) is responsible for developing, regulating and supervising the securities market in the Maldives in accordance with the Maldives Securities Act. CMDA issues license to the Stock Exchange and Central Depository, as well as all market intermediaries including brokers, dealers and investment advisors.
An orderly market is maintained through rules and regulations issued by the market Regulator, Stock Exchange and Depository. Rules and regulations issued ensure guidance, monitoring and supervision of the conduct of all market activities.
The Stock Exchange Company has powers pursuant to the Securities Act, to make rules relating to membership of the company, listing of companies on the stock exchange, obligations of issuers of listed securities, conditions governing dealings in securities as well as rules relating to clearing and settlement of securities. All rules formulated by the Stock Exchange shall come into effect upon approval by the market Regulator.
