CMA LAW: Execution of the Arbitration Rules

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In line with the Capital Markets Authority's endeavour to enhance the legal awareness of traders in the capital market, and in order to implement the provisions of Article (148) of Law No. (7) of 2010 regarding the "Establishment of the Capital Markets Authority and Regulating Securities Activity", and Article (444) of its Executive Bylaw concerning settling the disputes by arbitration, the Authority hereby announces that the execution of the legal procedures of the Arbitration Rules at the Authority have started on 1/4/2014. These Rules are based on fairness and transparency, and they have the following characteristics:

• Professionalism and expertise in settling disputes with the assistant of consultants and members of the judiciary authorities and specialists in settling disputes by arbitration.
• Speed of the arbitration procedures and accuracy in considering and deciding on the dispute.
• Guaranteeing confidentiality and professional honesty, while allowing the opponents to choose experienced arbitrators.

 

The Authority would like to draw the attention of traders in the capital market to the fact that the mentioned Arbitration Rules are exclusively applicable on the disputes arising from the obligations set forth in in Capital Markets Authority's Law No. (7) of 2010, or any other law if related to transactions of the capital market.  Through these Rules, the Authority aims at providing all the methods which support the implementation of the Law and saving the time and effort of traders in Kuwait Stock Exchange.

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