Title: Press Release: Evacuation Drill at the CMA for a Sample of Departments to Fulfill the Business Continuity Program Controls

Kuwait, December 24, 2022 - Within the framework of the business continuity management program that the CMA began implementing in 2019, commencing from the preparation of the necessary policies and procedures leading to the establishment of a steering committee specialized in managing the business continuity plan, which the CMA succeeded in its application in 2020 during the Corona pandemic, and in May 2022, the CMA completed its third cycle of the business continuity program.

The CMA is currently looking forward to implementing the best international practices in this field, as it carried out last Tuesday morning, December 20, 2022, at 8:30 am, a successful evacuation drill for a sample of the CMA’s active and sensitive departments. The training scenario included a complete power outage for the CMA’s building, which requires evacuating the building and continuing to carry out the CMA's business without interruption at home.

Accordingly, the business continuity program manager carried out the necessary reporting process by activating the business continuity plan and following the communication diagram updated in the third cycle of the business continuity program, directing the continuity of critical and important businesses completely at home, communicating with the technical support team to provide mobile computers and VPN connection service for a list of the employees in charge of these works and  transferring office calls to mobile phones, as part of the uninterrupted business continuity.

The drill is concerned with the field of business continuity due to its importance in:

1- Preparing employees and training them on the ideal handling of disaster and crisis scenarios and how to evacuate the building by following security and safety procedures.

2- Fulfilling the requirements of the business continuity management program and recording existing observations during the training process to avoid them in the future.

3- Fulfilling the requirements of the international standard certification (ISO 22301), which the CMA seeks to achieve in the near future.

In conclusion, the CMA thanks all parties that contributed to the success of this drill.

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.
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