CMA LAW: The Capital Markets Authority Holds the 10th Awareness Workshop Concerning "Anti-Money Laundering and Counter Terrorist Financing"

Kuwait, 16th December 2014 – The Capital Markets Authority has held on Tuesday 16/12/2014 an awareness workshop, which is part of its awareness workshops' program of 2014 at Kuwait Stock Exchange. The workshop was about "Anti-Money Laundering and Counter Terrorist Financing", and it was given by Mr. Talal Al-Zamami – Director of Field Inspection Department at the CMA. It was also attended by the Director of the Awareness Office at CMA, and a representative of the Legal Affairs Sector. The workshop tackled the following aspects:
The CMA regulations regarding Anti-Money Laundering and Counter Terrorist Financing.

The requirements of the Ministerial Resolution No. (5) of 2014.
The first aspect covers the mechanism of the licensed persons' peruse of the related regulations, the implemented Policies and Procedures Guide, the risk evaluation study, and "Know Your Customer" Form. It also specifies the Politically Exposed Persons (PEPs), the mechanism of reporting suspicious transaction, the Compliance Officer's tasks, and the penalties regarding any of the related violations. The second aspect tackled the formation of the Ministerial Committee concerned with the implementation of the Ministerial Resolution No. (5) of 2014, and its competences.
Furthermore, the workshop reviewed the content of the guiding regulations issued by the committee concerned with executing the Security Council's resolutions of the Ministry of Foreign Affairs.
On this occasion, the CMA is pleased to express its gratitude to the participants, and looks forward to future cooperation. It also welcomes their opinions and suggestions regarding the different issues of mutual concern. 

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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