CMA LAW: The Capital Markets Authority Holds its 7th Awareness Workshop for the Second Quarter of 2015

Kuwait, 26th May 2015 – The Capital Markets Authority (CMA) has held its 7th awareness workshop on Tuesday 26/5/2015. This workshop is part of its awareness workshops programs, which are usually held in Khaled Al-Kharafi Hall at Kuwait Stock Exchange at 12:30 p.m. The workshop was titled "Licensing Securities Activities", during which the speakers reviewed the procedures of obtaining the required licenses to practice different securities activities according to the provisions of Article 124 of the Executive Bylaw of Law No. 7 of 2010. The aspects covered were as follows:
- Scope of regulations' application of licensing securities activities in Kuwait and abroad either through a client in Kuwait or for his/her account
- The applicant
- Application procedures
- Application study and approval
- Application form of licensing securities activities

The speakers mainly concentrated on the three cases of the applicant:
- Companies under establishment whether the founder is a natural individual or a corporate entity.
- Companies whose licenses require amendment of purposes
- Existing companies whose licenses do not require amendments of purposes.

Moreover, the speakers tackled the requirements that must be fulfilled by the applicant, including providing information and documents which confirm the availability of competence and efficiency, sufficient resources, administrative expertise and systems, qualified staff, executives, and board members.
At the end, participants Q & As were answered by the representatives of the Licensing and Registration Department and the Legal Studies Department.

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        
      

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.