CmaBoardReleases
Title: Capital Markets Authority Organizes its First Awareness Program
Kuwait, May 3, 2016 - CMA has released its first awareness event for the first quarter of the current financial year, which is a workshop related to disclosure of interests according to the new Executive Bylaws.
The speakers dealt with disclosure issues at the CMA through various aspects, starting with the regulation of disclosure of interests and the parties concerned with such disclosures like the interested persons, the time and means of disclosure. After outlining and explaining the disclosure forms, the speakers came across the topic of group disclosure and pointed out the percentages that are excluded from disclosure. Then they reviewed cases which the interested persons may come across, and mentioned listed companies’ obligations towards such disclosures, before making the closing remarks and after answering all the participants queries.
It should be noted, that the current awareness program of the CMA is limited to six workshops extending until the 5th of June which will be organized in accordance with the adopted mechanism for awareness programs at the Authority, at the same place and time at Khaled Al-Kharafi Hall on Tuesdays at 12:30 p.m., except for the last workshop which will be held on Sunday, the 5th of June due to the upcoming holy month of Ramadan.
As the Capital Markets Authority begins its awareness activities, it hopes that the concerned parties will participate in the open discussions to achieve the desired awareness goals related to securities issues, it also welcomes all questions and queries in various issues related to its various activities.
Subjects and timings of the workshops are as follows:
1. Disclosure of Interests (Disclosure) - 3/5/2016
2. Promoting collective investment schemes outside Kuwait (Collective Investment Schemes) - 10/5/2016
3. Anti-Money Laundering and Combating Financing of Terrorism (Office Supervision) - 17/5/2016
4. Regulations of Registering Auditors in the Concerned Register with the Capital Markets Authority (Licensing and Registration) - 24/5/2016
5. Violating Trading Conduct (Market Surveillance) - 31/5/2016
6. CMA Electronic Portal (IT) - 5/6/2016
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, observe listed companies’ execution of Corporate Governance Regulations, and protect investors from unfair practices which violate the Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The Authority also aims to provide awareness programs related to securities activities.
For more information, kindly contact
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@kuwaitcma.org
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