Title: Press Release Regarding the List of the Entities Unlicensed at IOSCO

Kuwait, August 17, 2022 – As part of the Capital Markets Authority’s (CMA) commitment to offer a regulatory and supervisory system that supports an attractive and a competitive investment environment, and its keenness to implement the principle of justice, transparency, and integrity, in addition to working in line with the best international practice, protecting the persons dealing in securities activities, reducing systemic risks, and raising the investors’ awareness of the risks of this field; the CMA has included a link of IOSCO’s web page through its website which includes a list of the unlicensed entities that persons are prohibited to deal with  on an international basis (located in the member states) under the title of (Investor Alerts Portal), provided to IOSCO by the member states. This confirms the principle of joint cooperation and concerted international efforts to reduce the investment risks of dealing with entities unlicensed to practice securities activities internationally.
This step fulfills CMA’s efforts of facing all the illegal practices by unlicensed entities locally and internationally at the same time, as it continuously addresses such practices through its awareness and educational campaigns to public investors, and by allocating a page updated regularly on its website that includes a list of the unlicensed entities in the State of Kuwait and all the member states of IOSCO.
It is noteworthy that the CMA takes all the legal procedures against all the monitored illegal practices that violate the Law or Executive Bylaws.
Furthermore, through its membership in IOSCO, the CMA is keen to effectively contribute to achieving the principle of integrity and ensure compliance with the laws and regulations as stipulated in Article 3 of CMA’s Law and provide assistance and exchange of information in order to achieve IOSCO’s principles. It is also aware of its responsibility in reporting on the entities of illegal practices. Accordingly, it included the names of those entities in IOSCO’s list to become a reference for the persons dealing in securities activities on an international basis.
In this regard, the CMA confirms that it works with its counterparts from IOSCO’s member states to upgrade the supervisory and legislative role in order to achieve the purpose of this page and support the national economy in particular and the international economy in general.
Therefore, the CMA calls upon the persons dealing in securities activities to visit its website before dealing with the entity offering the service to ensure if such entity is listed within the list of unlicensed persons locally or internationally.
- To view the list of the entities unlicensed by IOSCO:
List of the Entities Unlicensed by IOSCO
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Notes to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010. Pursuant to the Law, the CMA shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies’ execution of Corporate Governance regulations, and protect investors from unfair practices which violate the CMA's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.
For further information, please contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw