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Title: Press Release: The Capital Markets Authority Issues the Provisions of Increasing the Capital of Close-Ended Funds with Fixed Capital Listed on the Exchange
Date Publish
04 June 2024
Kuwait, May 04, 2024 – Within the framework of the Capital Markets Authority’s (CMA) strategic objective of developing the legislative and regulatory infrastructure of the capital markets, and in fulfilment of its initiatives of the continuous development in accordance with the best international practices and the recommendations issued by IOSCO, taking into consideration the visions of the persons of interests, the CMA Board of Commissioners issued today Resolution no. (70) of (2024) Regarding Provisions of Increasing the Capital of Close-Ended Funds with Fixed Capital Listed on the Exchange to approve the provisions of such increase. These amendments are based on the continuous development of the regulatory environment, and to enhance attractiveness of managing third-party assets in the Kuwaiti capital markets and create a high durability industry of investment funds in terms of performance and financial solvency that encourage investment in this type of securities activities.
In conclusion, the CMA invites all the related parties to review the finalized amendments and comply with their provisions through visiting the following link:
www.cma.gov.kw
Ends-
Notes to Editors:
The Capital Markets Authority (CMA) of Kuwait was established pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and its amendments, approved by the Kuwaiti Parliament in February 2010. Under this Law, the CMA regulates and supervises securities activities, ensures transparency, fairness, efficiency, and observes listed companies’ implementation of Corporate Governance regulations. The CMA also protects investors from unfair practices and violations of 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
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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