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Kuwait, 20th July 2013 – As part of the CMA's pursuit to lay down the appropriate regulations regarding solving disputes in the capital markets of Kuwait, and to emphasize the principles of fairness, transparency and integrity; the CMA Board of Commissioners have ratified the Rules of Arbitration, which shall come into force from 1/4/2014. They shall only be implied on disputes arising from the liabilities stipulated in the CMA Law No. (7) of 2010, or any other law related to capital markets transactions according to the provisions of Article (1) of the CMA Rules of Arbitration. When the arbitration rules are enforced in the CMA, use of the arbitration rules in Kuwait Stock Exchange will be ceased. This is a step towards keeping up to with the progress of the international and local transactions, and the increased demand of resorting to arbitration for solving disputes and settling conflicts due to its, low cost, quick procedures, and complete confidentiality in handling the disputes and maintaining the opponents privacy. In addition, choosing the arbitrator is usually done according to his/her technical knowledge and expertise in the matter of the dispute. The arbitration period is short, and the arbitration centers are widely spread which lessened the burden on the state's courts.
Most of the regulating legislations of the capital markets consider arbitration as a main optional method used for solving disputes related to securities. In business, arbitration is considered a second option that works in line with the judicial authorities. It is an important issue in the commercial business nowadays, and its importance will increase in the future with the increase of the commercial business and the resulting disputes. The CMA will announce soon the start of registering the arbitrators and expert.
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, oblige the listed companies to execute the Corporate Governance Principles, and protect the investors from the unfair practices which violate the Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of the merger, acquisition, and disclosure operations. The Authority also aims at providing awareness programmes related to securities activities.
For more information kindly contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22410169
Email: pr-media@kuwaitcma.org
CMA LAW: Rules of Arbitration of the Capital Markets Authority
Date Publish
20 July 2013
Kuwait, 20th July 2013 – As part of the CMA's pursuit to lay down the appropriate regulations regarding solving disputes in the capital markets of Kuwait, and to emphasize the principles of fairness, transparency and integrity; the CMA Board of Commissioners have ratified the Rules of Arbitration, which shall come into force from 1/4/2014. They shall only be implied on disputes arising from the liabilities stipulated in the CMA Law No. (7) of 2010, or any other law related to capital markets transactions according to the provisions of Article (1) of the CMA Rules of Arbitration. When the arbitration rules are enforced in the CMA, use of the arbitration rules in Kuwait Stock Exchange will be ceased. This is a step towards keeping up to with the progress of the international and local transactions, and the increased demand of resorting to arbitration for solving disputes and settling conflicts due to its, low cost, quick procedures, and complete confidentiality in handling the disputes and maintaining the opponents privacy. In addition, choosing the arbitrator is usually done according to his/her technical knowledge and expertise in the matter of the dispute. The arbitration period is short, and the arbitration centers are widely spread which lessened the burden on the state's courts.
Most of the regulating legislations of the capital markets consider arbitration as a main optional method used for solving disputes related to securities. In business, arbitration is considered a second option that works in line with the judicial authorities. It is an important issue in the commercial business nowadays, and its importance will increase in the future with the increase of the commercial business and the resulting disputes. The CMA will announce soon the start of registering the arbitrators and expert.
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, oblige the listed companies to execute the Corporate Governance Principles, and protect the investors from the unfair practices which violate the Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of the merger, acquisition, and disclosure operations. The Authority also aims at providing awareness programmes related to securities activities.
For more information kindly contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22410169
Email: pr-media@kuwaitcma.org
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