Tasks and powers of the LCMA
- Regulating and over-seeing financial markets and dealing with them
- Organizing and monitoring disclosures in a material and accurate manner with respect to the essential information required for investors
- Conducting studies and submitting proposals to the concerned authorities regarding laws and amending them to suit the requirements of the Authority’s mission.
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Gathering information and statistics on financial markets, commodity markets, Sukuk and other entities subject to the supervision and over-seeing of the Capital Market Authority and hence publish reports on them.
- Cooperating with the financial markets authorities abroad and joining memberships of the relevant Arab and international organizations.
- Establishing rules of conduct as well as self-monitoring between brokers and professionals in the field of financial markets, encouraging and qualifying brokers and other professionals in the non-banking financial arena in order to raise their technical and practical competence.
- Receiving and following up on reports and complaints related to the activity of the financial markets and taking the appropriate decisions, including but not limited to initiating investigations and imposing sanctions or referrals in accordance with the provisions of the bylaws and regulations issued pursuant thereto.
- Overseeing and supervising all entities operating in the field of financial markets, commodity markets, sukuk, non-banking financial and investment instruments
- Ensuring that the accounting and auditing standards are implemented and approved for auditing as determined by the Executing Regulations
- Maintaining and approving records of the accounting and auditing offices for approval as determined by the executing regulations.
- Supervising, monitoring and ensuring the proper functioning of the markets.
- Deciding on the grievances stemmed out of the decisions of the boards of directors.
- Issuing and granting the necessary licenses to carry out activities related to the markets, taking the necessary measures to halt, withdraw or cancel such permissions and licenses and to monitor the activities of the licensees.
- Adoption of a system to ensure that the obligations arising from the settlement of trading transactions are fulfilled, specifying in particular the membership system, calculation of the contribution and other related matters.
- Adoption of a system for the protection of dealers in the financial markets, showing the membership, subscription and compensation systems for those affected by non-commercial risks.
Entities Under Our Moderation
- Issuers of securities.
- Libyan Capital Market Company.
- Commodity markets.
- Companies and entities operating in the capital market.
- Shari’ah Supervisory Bodies working in the field of Capital Market.
- Approved accounting and auditing offices accredited to the Authority.
- Approved legal offices accredited to the Authority.
- Investment companies, investment funds and investment managers operating in the capital market.
- Financial advisory offices approved by and accredited to the Authority.
- Authorized entities to practice financing Sukuk
- In addition to the above, the Authority’s regulation and supervision is applicable to any entities, companies, institutions or instruments operating in the field of non-bank financial and investment markets.
