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CMA LAW: "Timing of Disclosure of Material Information"
Date Publish
20 January 2013
Capital Markets Authority is keen to enhance the compliance of the issuers of securities listed on Kuwait Stock Exchange (KSE) to minimize any violations of the law in connection with disclosures of material information.
Therefore, the Authority draws the attention that issuers shall diligently disclose material information once the information is available during the working hours of the Authority or KSE or prior to the next trading session if the information is available beyond working hours. Additionally, the Authority reminds of the requirement for complying with regulations on disclosure of material information it issued, which determines mechanisms and timings of disclosure upon listing on foreign markets as well as upon occurrence of sudden and unforeseen events that require delay of disclosure for a short period.
Furthermore, the Authority draws the attention of issuers, if they believe that there are justifications requiring postponement of disclosure of material information, that such postponement shall not involve potential misleading of the interested public and stakeholders. Request for postponement should be filed with the Disclosure Department including the reasons for postponement and all notes relevant to the information. The Authority may approve the request of postponement or oblige the issuer to disclose the information, if it deems necessary.
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.
