Maldives

Creates the Capital Market Development Authority and regulates licensing of securities intermediaries, stock exchanges and depositories, prospectuses and securities offences such as insider dealing and market manipulation. CMDA may revoke or suspend licences (s.37 in the consolidated numbering) and impose fines for non-compliance (s.62(d)). The consolidated English translation (2023) lists amendments Laws 16/2016 and 30/2020; CMDA also lists a Third Amendment, Law No. 13/2024 (Dhivehi only). The Act takes effect on a date the President appoints, so no effective date is given.