Kuwait, February14, 2017 - CMA launched its first awareness program for 2017 with a workshop on “special form for enforcing the Arbitration Rules in resolving disputes arising from the obligations set forth in the Law of the Establishment of the Capital Markets Authority and Regulating Securities Activities”.
The workshop was organized according to the mechanism adopted in organizing the awareness programs at the CMA at Khaled Al-Kharafi Hall on Tuesdays at 1:00 p.m. 

CMA’s representatives were:
- Dr. Tareq Aladasani / Director of Litigation & Arbitration Department 
- Mr. Fuad Al-Ateeqi/ Awareness Office Representative

The workshop covered various aspects, the most significant were:
- Definition of Arbitration
- Characteristics of Arbitration 
- General Principles of Arbitration
- Procedures of Arbitration
- Explanation of the special form for enforcing the Arbitration Rules in resolving disputes.

The first aspect defined arbitration as an agreement to resolve disputes which might arise between people through regular entities who are appointed by the arbitration parties, then the speakers clarified the characteristics of arbitration which is an easy, flexible procedure compared with litigation procedures, quick response to disputes, in addition to maintaining the confidentiality and privacy of the evidence in the lawsuit, as well as what the system provides of trust and confidence among the arbitration parties to be able to appoint their own  arbitrator.

The workshop addressed the third aspect of general principles of arbitration relevant to the jurisdiction of litigation disputes, and the independence of provisions of arbitration, arbitration terms, in addition to the disclosure of the arbitrator of any circumstances that may raise doubts on his independency or neutrality. 

As for the procedures of arbitration, the speaker demonstrated elaborately the arbitration procedures of disputes starting with submission of the arbitration application, notifying the defendant of an arbitration application, responding to the application, counterclaim, and referring an arbitration file to the arbitral tribunal to set an arbitration hearing.  

As for the final aspect of the workshop related to the special form for enforcing the arbitration rules in resolving disputes arising from the obligations set forth in the Law of the Establishment of the Capital Markets Authority and Regulating Securities Activities, before addressing any inquiries from the participants. 

Finally, due to the importance and special nature of arbitration, CMA sent private invitations to licensed persons to attend the workshop, along with the usual public invitation.

It should be noted that this awareness program is among CMA initiatives to enhance financial understanding targeting different groups in society executed by the Awareness Office which will be announced soon.

Clarification to Editors
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010, and amended by Law No. 108/2014. Pursuant to the Law, the Authority 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 Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The Authority also aims to provide awareness programs related to securities activities.
For more information, kindly contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw