CmaBoardReleases
Back to Search
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 merger, acquisition, and disclosure operations. The Authority also aims to provide 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 Concludes the First week of its awareness Campaign
Date Publish
28 November 2015
Kuwait, November 28, 2015 – The Capital Markets Authority has concluded on Thursday 26/11/2015 the first phase of its awareness campaign which is related to the amendments of the Executive Bylaws. This campaign came after the issuance of the new Bylaws, and it is considered the biggest of its kind in the securities activities' history. Not only does the campaign include workshops, but it also includes different awareness methods such as sending intensive daily awareness messages through social media and phone, in addition to a number of other activities.
The first week of the awareness program, which is from 22/11/2015 to 26/11/2015, discussed a number of important aspects as follows:
Day 1 – The first part of the workshop of enforcing the CMA's Law and its Executive Bylaws tackled two topics: one discussed the regulatory framework of punitive accountability and reconciliation in light of Law No. 7 of 2010 and its Executive Bylaws and their amendments, while the other one discussed the mechanism of enforcing CMA Law. The enforcement tools reviewed were supervision, inspection judicial power, reporting violations and investigation.
Day 2 – It completed the part discussed on day 1 on enforcing CMA Law and its Executive Bylaws. It tackled the topic of Arbitration; its privileges, principles, scope of competency, and formation of the Arbitration institution, and also the regulatory framework of complaints and grievances in light of CMA Law and its Executive Bylaws and their amendments by reviewing the grievance cases, forms, and time, as well as the complaint cases, concepts, types, forms, mechanisms of investigation and decisions made.
Day 3 – It was dedicated to discussing the securities activities according to the new Executive Bylaws, and the internal policies and procedures of the licensed person. It also tackled other issues such as the amendments of licensing requirements, amending the scope of licensing to for assets' safekeeping, adding new activities like assets evaluation, and amending the requirements of the capital of some activities.
Day 4 – It discussed the provisions of Module 5 and the amendments of the market Maker in particular. It tackled the aspects of Market Maker, the Authority's role regarding the Market Maker, the main goals of having a Market Maker, the mechanisms and requirements of registering the Market Maker, in addition to the facilities granted to him and his obligations. It also discussed the portfolio of the Market Maker.
Day 5 – The amendments of the jobs and positions requiring registration were discussed, in addition to the amendments of the regulations of registering external Sharia auditing offices. It tackled the amendments of Module 5, in particular the amendments of canceling some positions or adding others, or banning conjoining some positions.
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 merger, acquisition, and disclosure operations. The Authority also aims to provide 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.
