CmaBoardReleases
Title: Press Release: The Capital Markets Authority Participates in the 47th Annual Meeting of IOSCO
Kuwait, October 22, 2022 – A delegation from the Capital Markets Authority (CMA) participated in the 47th meeting of the International Organization of Securities Commission – IOSCO in Marrakesh in the Kingdom of Morocco during the period from October 17 to 20, 2022. The meeting discussed several vital and important issues on the financial, regulatory and supervisory levels. It included the following meetings: the consultative meeting of the Union of Arab Securities Authorities on October 16, 2022, the meetings of the committees and Board of Directors of IOSCO in the first three days, and the annual meeting of Autorite Marocaine Du Marche Des Capitaux (AMMC) on October 20, 2022. Most of the international capital markets authorities and several securities and capital markets experts participated in the annual meeting. Such member states meet annually to discuss vital issues related to international securities and the future markets.
The CMA delegation was headed by Mr. Muthanna Al-Saleh – Head of Markets Sector, accompanied by Mr. Abdulrahman Mahmoud Mohamad – International Relations Office Director and Ms. Nora Alharoun – Legal Specialist.
This is the first participation for the CMA after the election of Mr. Muthanna Al-Saleh as a Representative of the Growth and Emerging Markets Committee (GEMC) and a Board Member for the next two years. CMA’s delegation attended several meetings of relevant committees and workshops.
Moreover, on October 17, 2022, Mr. Muthanna Al-Saleh participated in the meeting of the Growth and Emerging Markets Committee (GEMC) and Africa / Middle-East Regional Committee (AMERC) in which several topics were discussed such as the following:
• FinTech.
• Emerging Risks.
• IOSCO’s efforts in Cyber Security.
• Sustainable Finance.
• Crypto Assets.
Mr. Muthanna Al-Saleh, in his capacity as a Board Member, participated in the meeting of IOSCO’s Board on October 18, 2022, in which the Board Members discussed the presented agenda and took the appropriate decisions thereon.
The President’s Committee met on October 19, 2022 and discussed several important issues.
On October 20, 2022, CMA’s delegation attended the annual conference of Autorite Marocaine Du Marche Des Capitaux (AMMC), which is the organizing authority of the annual meeting.
The CMA’s participation representing the State of Kuwait in all the international organizations will contribute in the exchange of experiences, visits, and information with the member states in order to develop the capital market, improve the investors protection and attraction, and upgrade the level of supervision to achieve more integrity, fairness, and transparency. It also confirms the continuation of the efforts of the CMA in enhancing the effectiveness of its role in IOSCO in order to be an active member in the organization.
It is worth noting that IOSCO was established in 1983 and includes the membership of 95% of the international capital markets, 125 supervisory entities, and 90 participants from regional and international exchanges and organizations. It is considered as the highest professional international organization in the field of regulating and supervising the capital markets, as it is the international organization that gathers the securities regulators in the world and is known as an international assessment tool in the securities sector. IOSCO develops, applies, and enhances compliance with the internationally approved standards for regulating the securities. It also works with the Group of Twenty (G20) and the Financial Stability Board (FSB) on the agenda of the global regulatory reform, which aims to enhancing the regulatory and supervisory authorities of the capital markets authorities, contributes in detecting and controlling the financial crimes as well as cooperating in the training and the exchange of visits and information, in addition to improving the protection and attraction of the investors and upgrading the supervisory level in order to achieve the highest levels of integrity, fairness, and transparency.
Ends-
Notes to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010. Pursuant to the Law, the CMA 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 CMA's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.
For further information, please contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw