Title: Press Release: The Capital Markets Authority Participates in the 48th Annual Meeting of the International Organization of Securities Commission (IOSCO)

Kuwait, June 18, 2023 – A delegation from the Capital Markets Authority (CMA) participated in the 48th meeting of the International Organization of Securities Commission (IOSCO) in the capital Bangkok- Thailand during the period from June 13 to 15, 2023. The CMA delegation was headed by Mr. Muthanna Al-Saleh – Head of Markets Sector and Board Member of the Organization, accompanied by Mr. Abdulrahman Mahmoud Mohamad – International Relations Office Director and Ms. Nora Alharoun –Senior Specialist in the Chairman of the Board of Commissioners and  Managing Director’s Office.

The meeting discussed several vital and important issues on the financial, regulatory and supervisory levels. It also included, on its sidelines, several important meetings that began on June 12, 2023, and the subsequent meetings of the Organization’s Board of Directors and committees in the following days. 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.

This is the second participation respectively 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 two years.  CMA’s delegation attended several meetings of relevant committees and workshops.

Moreover, 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.
• 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, in which the Board Members discussed the presented agenda and took the appropriate decisions thereon. The delegation also attended
the President’s Committee.

The CMA’s participation representing the State of Kuwait in all the international organizations will contribute in the exchange of experiences 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 CMA efforts 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