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Kuwait, 12th October 2014 – The Capital Markets Authority's delegation, headed by Mr. Mishaal M. Al-Usaimi – Vice Chairman of the CMA Board of Commissioners, who was accompanied by Mr. Khaled Faisal Al-Ghais – International Relations Office Director and Ms. Aisha Al-Nusif from the Legal Studies Department, attended the 39th meeting of the of the International Organization of Securities Commissions (IOSCO) in Rio de Janeiro, which was held from 28/9 to 2/10/2014.
The delegation met the Secretary-General of IOSCO, the Vice Chairman of the Board of Directors, and the officials concerned with the issue of the organization's membership to explain the CMA's efforts for becoming a member.
The delegation attended the meetings of the committees emerging from the IOSCO to discuss the latest legal developments in the member countries. It also participated in the Union of Arab Securities Authorities' meeting held on the sideline of the annual meeting of the IOSCO in order to coordinate between the participating Arab countries' authorities. Additionally, the delegation held a number of meetings with other capital markets authorities, during which many topics were discussed regarding training and improving the human resources, exchanging experiences and conducting mutual workshops.
It is worth mentioning that IOSCO was established in 1983. Its membership regulates more than 95% of the world's securities markets. Its members include over 120 securities regulators and 80 other securities markets participants (i.e. stock exchanges, financial regional and international organizations etc.).
Furthermore, IOSCO is the acknowledged international body that brings together the world's securities regulators and is recognized as the global standard setter for the securities sector. It aims at maintaining fair, efficient and transparent markets, and seeks to address systemic risks, enhance investor protection and promote investor confidence in the integrity of securities markets through strengthened information exchange and cooperation in enforcement against misconduct and in supervision of markets and market intermediaries.
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: Capital Markets Authority Participates in the 39th Meeting of the International Organization of Securities Commissions (IOSCO) in Rio de Janeiro
Date Publish
12 October 2014
Kuwait, 12th October 2014 – The Capital Markets Authority's delegation, headed by Mr. Mishaal M. Al-Usaimi – Vice Chairman of the CMA Board of Commissioners, who was accompanied by Mr. Khaled Faisal Al-Ghais – International Relations Office Director and Ms. Aisha Al-Nusif from the Legal Studies Department, attended the 39th meeting of the of the International Organization of Securities Commissions (IOSCO) in Rio de Janeiro, which was held from 28/9 to 2/10/2014.
The delegation met the Secretary-General of IOSCO, the Vice Chairman of the Board of Directors, and the officials concerned with the issue of the organization's membership to explain the CMA's efforts for becoming a member.
The delegation attended the meetings of the committees emerging from the IOSCO to discuss the latest legal developments in the member countries. It also participated in the Union of Arab Securities Authorities' meeting held on the sideline of the annual meeting of the IOSCO in order to coordinate between the participating Arab countries' authorities. Additionally, the delegation held a number of meetings with other capital markets authorities, during which many topics were discussed regarding training and improving the human resources, exchanging experiences and conducting mutual workshops.
It is worth mentioning that IOSCO was established in 1983. Its membership regulates more than 95% of the world's securities markets. Its members include over 120 securities regulators and 80 other securities markets participants (i.e. stock exchanges, financial regional and international organizations etc.).
Furthermore, IOSCO is the acknowledged international body that brings together the world's securities regulators and is recognized as the global standard setter for the securities sector. It aims at maintaining fair, efficient and transparent markets, and seeks to address systemic risks, enhance investor protection and promote investor confidence in the integrity of securities markets through strengthened information exchange and cooperation in enforcement against misconduct and in supervision of markets and market intermediaries.
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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