Title: Amending Some Provisions of the Executive Bylaws of Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their Amendments Within the Framework of the Implementation of the Qualification Examinations Project for Registered Employment Positions
Date Publish 03 December 2019
Kuwait City, 03 December 2019, Starting from the awareness role of the Capital Markets Authority, and implementing one of its major objectives issued in Article (3) of its Establishment Law, specifically the seventh paragraph, which stipulates “Enhance public awareness of Securities activities and of the benefits, risks and obligations arising from investments in Securities and encourage their development”; CMA continued on Tuesday, December 03, the implementation of the third external event of its comprehensive awareness program for the last quarter of 2019.
This workshop took place in Khaled Al-Kharafi Hall in Boursa Kuwait Securities Company and was presented by the following:
- Mrs. Altaf Sulaiman: Registration and Accreditation Section Manager.
- Mrs. Zahra Almousa: Specialist in the Licensing and Registration Department.
- Mrs. Zamzam Alali: Analyst in the Licensing and Registration Department.
- Mrs. Sarah Fayez Alkandari: Legal Researcher in the Legal Studies Department.
- Mr. Fahed Almutairi : Senior Specialist in the Awareness Office
This workshop dealt with its subject of “Amending Some Provisions of the Executive Bylaws of Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their Amendments Within the Framework of the Implementation of the Qualification Examinations Project for Registered Employment Positions” through several aspects, the most prominent of which were:
- The Professional Qualifications Program and the mechanism of its implementation in its various phases: the preliminary and mandatory implementation phases, and the phase between them.
- Explaining the amendments stipulated in Resolution No. (145) of 2019 that included amending some Modules of the Executive Bylaws, which were amending and adding definitions to Module One (Glossary), and the amendments of Module Five (Securities Activities and Registered Persons) regarding Registered Positions and Employment Positions in which some of its appendices were amended and new appendices were added.
- The services of licensing and registration for the registered persons that are offered on CMA electronic portal, and the mechanism of receiving them.
In continuing implementing its various awareness workshops, the CMA is pleased to draw the attention of the concerned parties in its activities to a number of external events included in the current awareness program that extends until the end of 2019, whose implementation dates will be announced consecutively. It also welcomes all their suggestions and inquiries related to awareness-raising in particular.
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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