CmaBoardReleases
Title: Press Release: A Delegation from the Financial Markets Regulatory Authority – Sudan Visits the Capital Markets Authority
Kuwait, September 14, 2022 - Within the framework of the Capital Markets Authority's (CMA) keenness on the mutual cooperation between the international supervisory entities and strengthening the means of joint cooperation between the capital markets authorities.
A Delegation from the Financial Markets Regulatory Authority in Sudan (FMA) visited the CMA during the period from 12 to 14/9/2022 to view the CMA’s experience concerning listing, registration, and offering of financial instruments approved by the CMA, in addition to understanding CMA’s experience in disclosure, transparency, and governance on the entities subject to its supervision and the systems used for supervision, compliance, investors protection, and avoiding of conflict of interests.
The program of the visit included meetings with the relevant organizational units and offering of several presentations in collaboration with specialized competences inside the CMA. Such presentations included different work systems and forms by the Markets Sector, Supervision Sectors, and the Steering Committee of Coordinating with the International Organization of Securities Commissions (IOSCO) in which the proposed topics were discussed and all the enquiries were answered.
As for the reason for selecting the CMA Kuwait as the first entity to visit within the official visits, the delegation stated that it was due to the CMA’s distinguished and leading achievements, and to benefit from the CMA’s experiences within this field. The FMA is considered recent, as it was established in 2016.
Furthermore, Prof. Ahmad Al-Melhem - Chairman of CMA Board of Commissioners - Managing Director- met the delegation of the FMA and encouraged them to apply the required balance when dealing with the companies and to regulate its procedures which shall provide it with the opportunity to join IOSCO.
In conclusion, FMA’s delegation thanked the CMA for the reception, organization, and efforts, and praised the accuracy and clarity of CMA’s Law and Executive Bylaws as well as CMA’s cadres, and how it keeps pace with the international developments and adopts the best international practice that shall achieve CMA’s vision and objectives.
Ends-
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