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Title: Press Release: The Capital Markets Authority Issues Resolution No. (03) of 2025 Regarding Amendments to Some Provisions of Module Three (Enforcement of the Law)
Date Publish
12 January 2025
Kuwait, January 12,2025- The Capital Markets Authority issued on Sunday, January 12, 2025 Resolution No. (03) of 2025 Regarding Amendment to Article (1-2) of Module Three (Enforcement of the Law) Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments.
The aforementioned Article, before amendment, stipulates that “The Authority may appoint, or require a Licensed Person to appoint, an Auditor from among the Authority’s registered Auditors, in order to prepare a special report on a particular subject related to one of Licensed Person’s activity. Such an Auditor shall provide the Authority with a copy of their report. The relevant Licensed Person shall pay such auditor’s fees and expenses as well as providing all required documents, information and assistance to the Auditor.”
Whereas the amendment to this Article included listed companies in the Exchange among the entities subject to the requirements of this Article, in addition to licensed persons.
This amendment is part of the framework of enhancing supervision to entities subject to the CMA’s supervision, which includes listed companies in the Exchange.
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: 1888898
Email: pr-media@cma.gov.kw
Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.
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