MUSCAT : Oman has introduced a new regulatory framework for public joint-stock companies aimed at strengthening transparency, protecting investors and setting clearer procedures for companies facing suspension or termination of their activities.

Under the regulations issued by the Financial Services Authority (FSA), companies are required to disclose material information that could affect the market promptly and in a clear and balanced manner.

The rules require companies to disclose negative developments with the same level of transparency applied to positive announcements, helping ensure investors have timely access to information that could influence investment decisions.

Companies must also respond when newspapers, analytical reports or social media circulate significant information that has not previously been disclosed, or when inaccurate information concerning the company emerges.

In such cases, the company is required to confirm, deny or correct the information to ensure the market receives an accurate account.

The regulations also establish procedures for companies that seek to cease operations or cancel their licences.

If a company itself requests the suspension of its activities or cancellation of its licence, it must submit a plan detailing how it will meet its obligations, settle the rights of customers and reconcile their funds and assets.

The FSA may also suspend or revoke a licence if a company breaches licensing conditions or engages in activities that threaten market stability or the integrity of the financial system.

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