The FSA Assumes The Following Rules and Responsibilities:

1. Regulation, supervision and organization of the financial sectors and the entities operating therein including all components of capital markets, insurance companies, commodities and energy markets, derivatives, credit rating agencies and persons, entities, companies and related services and products to achieve their soundness and limit the impact of potential risks thereon or on the stability of the financial system.
2. Regulation, supervision and organization of the accounting and audit profession.
3. Assisting the regulated, supervised and organized entities in developing the services they render and adjust the appropriate environment for innovation to render products and services that meet the needs of the society.
4. Preparing draft laws, Royal Decrees, regulations, decisions and instructions related to the FSA’s functions.
5. Acting as required to ensure enforcement of laws, regulations, decisions and instructions, whether through onsite or offsite audit and inspection of the regulated, supervised and organized entities by itself or through outsourcing or through electronic linkage systems.
6. Conducting administrative investigations and required summoning and requesting attendance of violators of the laws, Royal Decrees, regulations, decision and instructions related to the FSA’s functions or in the event of occurrence of violation of the provisions of the laws of jurisdictions outside the Sultanate of Oman based on request by a requesting external entity and take the required actions against the violators.
7. Collecting data, information and statistics on the regulated, supervised and organized entities and publishing reports thereon.
8. Conducting studies and presenting proposal to various official entities on the laws in effect and their amendment. It may, for such purpose, adopt temporary implementation of services or activities or licenses until the issuance of new legislations.
9. Communication with counter parties inside and outside the Sultanate of Oman and international associations and organizations, joining their membership and exchange knowledge and expertise therewith.

10. Organizing seminars, forums and local and international conferences with the aim of spreading awareness in the society on the regulated, supervised and organized sectors, services and activities and the risks they must be aware of and manage such risks.

11. Supervising training courses for employees of the sectors and activities regulated, supervised and organized by FSA.

12. Establishing or contributing to establishing any professional educational or training institution to support the regulated, supervised and organized entities through qualifying, training and national capacity building in collaboration with the competent entities.

13.Representing the Sultanate of Oman in the conferences and meetings of regional and international organizations and institutions related to the FSA’s functions.