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CMDA establishes 2 regulations on stock exchange

28 August 2019, MVT 23:15
A training programme held by CMDA. PHOTO/CMDA
28 August 2019, MVT 23:15

Capital Market Development Authority (CMDA) publicised two major regulations for the Maldives Stock Exchange (MSE).

The first regulation pertains to information disclosure by security issuers. It stipulates firms to adhere to accounting and financial reporting measures, as per the law.

Moreover, it details the information disclosure policies and responsibilities of the issuing company, as well as policies on buying and selling goods for companies that sell stock. The regulation further specifies the dates to record all actions pertaining to securities.

The second regulation released by CMDA regards the selling and purchasing of listed stocks outside of MSE.

This regulation details the transactions allowed outside of MSE, and policies on changing stock ownership.

CMDA is an authority that works to ensure efficient and fair management of the Maldivian stock market. The eight companies currently listed on the MSE are Amana Takaful, Bank of Maldives, Dhiraagu, Ooredoo Maldives, Maldives Tourism Develpment Corporation, Maldives Transport and Contracting Company, Centurion PLC, and State Trading Organisation.

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