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CMA LAW: Press Release Regarding Amendment to Some Appendices of Module Ten (Disclosure and Transparency) of CMA’s Executive Bylaws of
Date Publish
06 February 2025
Kuwait, 06 February 2025 - As part of the Capital Markets Authority’s (CMA) continuous pursuit to develop the rules that regulate securities activities, the CMA has issued on Thursday 06/02/2025 Resolution No. (27) of 2025 on the addition of the following phrase: “The issuer of this disclosure bears full responsibility for the soundness, accuracy, and completeness of the information contained therein. The issuer acknowledges that it has assumed Care of a Prudent Person to avoid any misleading, false, or incomplete information. The Capital Markets Authority and Boursa Kuwait Securities Exchange shall have no liability whatsoever for the contents of this disclosure. This disclaimer applies to any damages incurred by any Person as a result of the publication of this disclosure, permitting its dissemination through their electronic systems or websites, or its use in any other manner.” to the disclosure appendices numbered 7,8,10,11,12, and14 included in Module Ten (Disclosure and Transparency) of the Executive Bylaws of Law No. 7 of 2010.
This Resolution aims to enhance the principle of disclosure and transparency, which the CMA seeks to apply by reminding the issuer of the disclosure of his responsibilities thereon and holding him accountable for the accuracy of the disclosed information.
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: 1888898
Email: pr-media@cma.gov.kw
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