The Jamaica Stock Exchange (JSE), having the responsibility for regulating the local stock market, is seeking to bring awareness of the major legislative changes to listed companies in a bid to ensure stakeholders remain compliant.
Against this background, the JSE partnered with the Companies Office of Jamaica (COJ) and privacy consultant firm Design Privacy to host a recent sensitisation session.
This was done with the aim of highlighting the possible impacts of the recent Amendment to the COJ Act, as well as the requirements of the Data Protection Act (2021), which comes into effect on December 1, 2023.
The JSE’s Regulatory and Market Oversight Division (RMOD) also gave advise to the listed companies on rule amendments that impact companies’ audit committees.
The JSE recently hosted members of listed companies at its 40 Harbour Street headquarters and virtually. The sensitisation session with experts involved in the processes sought to guide attendees through the steps in ensuring smooth continuation of their business when these new and existing policies are actioned.
In recent months, there has been major legislative changes that will affect the way businesses are governed in Jamaica. One being the Senate’s approval of the Companies (Amendment) Act which will enable Jamaicans to meet international obligations in countering money laundering and combating the financing of terrorism.
The bill was approved without amendments on March 31. The other being the introduction of the Data Protection Act (2021) which governs the safe use, storage and sharing of customers’ data.