Title: The Authority’s Electronic Portal is the Subject of an Extensive Training Program Organized by the Capital Markets Authority

KUWAIT CITY, August 15, 2018 - The Capital Markets Authority (CMA) will hold a training program on the new services through the Electronic Portal, which will be launched on September 9th.

The awareness program, which will address all concerned parties, includes 15 awareness workshops, two workshops a day. The program is divided into an external workshop aimed at the wide participation of those involved in the program, such as licensed and non-licensed companies as well as listed companies. Auditors and Sharia Audit Offices workshops will be held at Khaled Al-Kharafi Hall at Bursa's headquarters on Monday 27/8/2018 and 14 workshops will be held at the Authority's headquarters from 8/28 to 9/5. 

This program aims at introducing the new services that will be launched by the Authority through its Electronic Portal as of September 9th, which comes as a complement to the previously launched services such as those relating to corporate governance. It also aims to introduce the requirements of this service and the procedures for obtaining it through this Portal.

The new services to be launched at the above mentioned date range from legal services designed to regulate the communication mechanisms between the Authority and the regulated entities, and other services related to licensing activities such as applications for licensing securities activities, as well as requests for renewal and cancellation.

The third of these services relates to the registration functions, such as the applications for candidacy for positions and jobs that are required to be registered with the licensed persons in accordance with the Fit & Proper Rules, in addition to the registration and cancellation of such positions and posts, and as applications for the registration of external audit offices and auditors. The last services to be launched through the Portal deals with services related to the regulation of markets. These include the application forms for the listing of Kuwaiti and non-Kuwaiti shareholding companies’ shares on the exchange, which will be submitted to the Authority by the Boursa Kuwait Company, along with application’s recommendation, and listing applications of companies’ shares in exchanges outside Kuwait. In addition to the voluntary withdrawal applications of shares of companies listed on the Boursa Kuwait, which are submitted directly to the Authority.

It should be noted that the Capital Markets Authority, in its approach to dealing with its clients and its services as a developer and not only a regulator. It seeks through its project to launch its services through its Electronic Portal and to monitor its periodic updates to achieve efficiency  in an electronic environment and to enforce its vision, which is compatible with the Government's directions on automating the work according to a mechanism that facilitates work procedures, saves time and effort and effectively contributes to improving the business environment in securities activities in general, and the services provided by the Authority in particular.

Ends
 
Notes 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.
For further information, please contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505