Title: Capital Markets Authority Hosts the Sixth Meeting of the Working Team Responsible for Training
Date Publish 29 December 2018
Kuwait, 29th December 2018, the Capital Markets Authority of Kuwait (CMA) hosted on Thursday, 27 December 2018, the sixth meeting of the Gulf Cooperation Council (GCC) Task Force for Training Officials, attended by the Secretariat and representatives of the GCC States. The Capital Markets Authority of the State of Kuwait prepared the initiative of the e-training portal in April 2016, to build and host a website to review the training programs and their contents and any papers prepared and published by the regulators of the GCC financial markets. The suggestion was welcomed and approved by the committee of the Heads of Authorities of the GCC Authorities at its 15th meeting held in Riyadh in the year mentioned above. Accordingly, the working team responsible for training the GCC financial market authorities was assigned to work with the Capital Markets Authority in Kuwait to approve the final framework of the website. The project went through four stages, which was launched since June 2017.
Kuwait, represented by the Capital Markets Authority, has adopted the joint e-training portal for the GCC countries. It has established the project and took responsibility for its operation and technical support. The project aims to exchange experiences and training programs through its publication on the e-training portal, ease registration of training programs, providing a knowledge database containing all educational materials, as well as providing data and statistics on the activities of the employees of the concerned bodies, and strengthening and consolidating and activating the concept of e-learning between the GCC countries, it should also be noted that this project targets to the integration of the infrastructure between the GCC through building an electronic platform available on the Internet and compatible with the highest standards of information security.
During the meeting of the working team responsible for training, the decisions of the committee of the Heads of Authorities of the GCC States (or their equivalent) at its 16th meeting held in the Kingdom of Bahrain and (17) in the State of Kuwait were reviewed and briefed, especially the joint electronic training of the regulators of the GCC financial markets, in light of the agreement reached by the Committee of Heads of Authorities at its meeting last October in Kuwait, in which the General Secretariat was assigned to coordinate with the Capital Markets Authority in Kuwait to hold a workshop for training supervisors in Kuwait, in December of this year, and working on the portal in trial period, in preparation for its launch.
The team reviewed the results of the training and development programs held in 2018 in the GCC countries, in addition to discussing the proposed training calendar for 2019.
On the sidelines of this meeting, a workshop was held for the working team responsible for training, to introduce the system of the joint electronic training portal for the GCC countries and train the team to use the system, in addition to registering the training officials in the portal and activating their authorities to prepare and disseminate training programs from the GCC countries, and staff members at the portal to review the training programs.
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.
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