Capital Markets Authority-CMA Board Releases - CMA

Navigation

  • Skip to Content
Unlicensed Entities
logo

  • CMA Portal
  • عـربـي
  • Ifsah Portal

Navigation

  • Home
    • Resolutions and Circulars
    • Announcements and Press Releases
    • CMA Law
    • Executive Bylaw
    • Forms
    • Reports and Complaints
    • Annual Reports
    • Strategic Reports
  • About CMA
    • Mission
    • Vision
    • Institutional Values
    • CMA Objectives
    • Code Of Ethics
    • CMA Board of Commissioners
    • Employment
    • Chairman Message
    • Organizational Structure
  • Awareness
    • Suggestions
    • Publications
    • National Project
    • Events
    • List Of Licensed Companies
    • External Audit Offices
    • List Of Registered Auditors
    • Local and Gulf Unlicensed Entities
    • Persons Restricted from Practicing Securities Activities or Registered Positions and Employment Positions
    • Workshops
    • Facilitating the opening of investment accounts Initiative
    • CMA Radio
    • FAQ
  • Media Center
    • List of Investment Funds
    • List Of Agreements
    • CMA Gallery
    • Media Appearances
    • Press Releases
    • Kuwait's Exchange Privatization Journey
    • Main Resolutions and Procedures of Precautionary Period Against COVID-19
  • International Organizations
  • Fintech
    • Introduction to Financial Technology
    • Securities-based Crowdfunding
    • Digital Financial Advisory
    • Initial Implementation Phase
    • List of Companies Registered in the Fintech Services Register
    • Digital Library
    • Contact the Fintech Unit
  • CMA Portal
  • Ifsah Portal

CmaAdvanceSearch



Navigation

  • Home
    • Resolutions and Circulars
    • Announcements and Press Releases
    • CMA Law
    • Executive Bylaw
    • Forms
    • Reports and Complaints
    • Annual Reports
    • Strategic Reports
  • About CMA
    • Mission
    • Vision
    • Institutional Values
    • CMA Objectives
    • Code Of Ethics
    • CMA Board of Commissioners
    • Employment
    • Chairman Message
    • Organizational Structure
  • Awareness
    • Suggestions
    • Publications
    • National Project
    • Events
    • List Of Licensed Companies
    • External Audit Offices
    • List Of Registered Auditors
    • Local and Gulf Unlicensed Entities
    • Persons Restricted from Practicing Securities Activities or Registered Positions and Employment Positions
    • Workshops
    • Facilitating the opening of investment accounts Initiative
    • CMA Radio
    • FAQ
  • Media Center
    • List of Investment Funds
    • List Of Agreements
    • CMA Gallery
    • Media Appearances
    • Press Releases
    • Kuwait's Exchange Privatization Journey
    • Main Resolutions and Procedures of Precautionary Period Against COVID-19
  • International Organizations
  • Fintech
    • Introduction to Financial Technology
    • Securities-based Crowdfunding
    • Digital Financial Advisory
    • Initial Implementation Phase
    • List of Companies Registered in the Fintech Services Register
    • Digital Library
    • Contact the Fintech Unit
عـربـي

CMA Board Releases - CMA

CmaBoardReleases

Board Releases

Back to Search

Board Releases

A+| A-
Title: Press Release: Closure of the Advisors Office of the Capital Markets Authority
Date Publish 16 November 2021


Kuwait, November 16, 2021- In light of the Capital Markets Authority’s (CMA) pursuit to upgrade its work by keeping pace with the latest practices in the field of the government administration and adopting the best methodologies in this regard, and in sense of responsibility towards complying with the general orientation of the country towards controlling the expenses, reduce the expenditure, and not expanding the organizational structures of the government entities when the need ceases to exist, the CMA has reviewed its organizational structure for the purpose of identifying the structural condition and the competences of all the current organizational units at the CMA to determine their usefulness, in addition to the ones that may require to be established in the future upon the developments of the financial markets, their products, and their control frameworks. 
As a result of such revision along with CMA’s effort to reduce the duplication and repetition in the competences and works of its organizational units to ensure the development of the institutional infrastructure and the work environment as well as an optimal management of its human and financial resources and enhancing of its internal governance, the CMA decided that it no longer requires  the Advisors Office within its organizational structure, which was previously established to provide the technical advice and opinion regarding the advisory requests of the specialized technical and legal pillars related to CMA’s competences and scope of work that are referred to it, in addition to conducting studies and research and submitting proposals and initiatives that are necessary to perform, achieve and develop the work in CMA’s establishment phase, and to be in line with the need for specialized technical expertise to execute CMA’s strategic plans and objectives at that time. 
Moreover, as the CMA has realized that there is a similarity between the competences of the Advisors Office and the other organizational units that has the same competences, the CMA found the possibility to close the Advisors Office of the Board of Commissioners within its current organizational structure for the purpose of taking the advantage of tightening its organizational structure without prejudice to the quality of the services provided by the CMA and in a form that does not obstruct the achievement of its strategic plans and objectives. 
In conclusion, the CMA emphasizes on its pride in its human cadres and national elements that were fully depended on in the leadership, advisory, supervisory, and specialized positions, which were the landmark of promoting the financial market system and achieving a quantum leap in the Kuwaiti market’s classifications since the establishment of the CMA, and the party to be relied on in the future in achieving more achievements for the service of the national economy and achievement of the government vision. 
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

Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.

Share & Print


  • Share
  • Print

CmaSideNavigation

In this section

  • Home
  • About CMA
  • Awareness
  • Media Center
  • International Organizations
  • Fintech

CMA Automated Assistant

We use cookies to ensure you get the best experience on our website.

Footer - Links

  • Privacy Policy
  • Publishing Policy
  • Site Map
  • Contact Us

Footer - Copyrights

Footer - Useful Links

Useful Links

  • International Organization of Securities Commissions (IOSCO)
  • Boursa Kuwait
  • Central Bank of Kuwait
  • Kuwait Investment Authority
  • Kuwait Government Online
  • Kuwait Clearing Company

Footer - Contact Us

Contact Us

Email:pr-media@cma.gov.kw

Phone:1888898

Fax:+965 22903500

Postal Address:P.O.Box 3913, Safat 13040, Kuwait

Address:Kuwait City, Al-Shahuda Street, Al-Hamra Tower, 20th Floor

Footer - Social Media

Copyright © 2024 Capital market authority. All Rights Reserved