President Solih ratifies second amendment to the Maldives Securities Act

The second amendment bill to the Maldives Securities Act, which was passed by the People’s Majlis on December 6, has been ratified.

President Ibrahim Mohamed Solih ratified the amendment bill on Wednesday, and it received parliamentary approval during the 27th sitting of this year’s last session.

Upon ratification, the act has been published in the government gazette.

The second amendment to the Maldives Securities Act mandates research on new products for the expansion and development of the capital market, as well as creating a regulatory framework to introduce feasible and promising products.

Further, it also mandates to ensure timely disclosure of information related to security issuers as well as buyers in addition to supervising and regulating the securities market

It also mandates conducting a financial market analysis and programs to increase market awareness.