Title: CMA continues its awareness programs for 2019
Date Publish 22 April 2019
KUWAIT CITY, April 22, 2019 - As part of its efforts to fulfill its awareness role for securities activities, the Capital Markets Authority (CMA) held a special awareness workshop on Monday, April 22, 2019 under the title "Registered Broker's Transactions with its Clients" in Khaled Al-Kharafi Hall at the Boursa Kuwait Building
The workshop aimed at making licensed persons aware of the activity of “a securities broker registered in the exchange” and its representatives, as well as compliance officials in the ways and mechanism of receiving orders from the clients on the stock exchange.
The CMA was represented at the workshop by Mr. Sulaiman Hamad Al-Mousa, Director of the Market Surveillance Department at the CMA, Mr. Khalid Mohammed Al-Qadhi, Director of the Trading Surveillance Section, and Mr. Ibrahim Abdul Razzaq Al-Ibrahim, Director of Market Operations Surveillance Section, reviewed the subject of the workshop. The workshop was divided into several aspects, the first of which defined the role of a registered securities broker, to move on to the second aspect of the relationship between the registered broker and the client, the obligations and procedures regulating it and the features related to the contract between them, in addition to the very important aspect of knowing the client and the brokers role in preparing a special form and the procedures to acquire the correct information before dealing with the client and the obligation to update them. The regulations and procedures regulating the assignment of the client to another person for trading in securities on his behalf was also explained. The third aspect of the workshop explained the means of receiving orders from clients as stipulated in the Executive Bylaws of the CMA’s Law. The fourth aspect was the general requirements on the means of receiving orders from clients. The workshop concluded with the topic of dealing with telephone conversations when receiving orders by the registered broker and implementation of the clients and the features to be considered.
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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