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Title: Announcement Regarding the Issuance of a Disciplinary Board Resolution
Date Publish
22 February 2015
Awareness Announcement
(The Annual Report) Pursuant to "CMA Regulations Concerning Anti-Money Laundering and Counter Terrorist Financing"
Kuwait, 22nd February 2015
In line with the CMA's endeavour to enhance the legal awareness of the licensed persons and all the parties concerned with the implementation of the provisions of Law No. (106) of 2013 regarding "Anti-Money Laundering and Counter Terrorist Financing", and the international resolutions issued in this regard; the CMA emphasizes the importance of perusing its "Regulations Concerning Anti-Money Laundering and Counter Terrorist Financing No. (C .M .A. /S .S. /I.C/4/2013)" issued on 17/7/2013, and working according to them.
The CMA reminds all persons concerned with the implementation of the above mentioned Regulations of the importance of preparing an annual report pursuant to Item (4/e) of Article (Twenty Second) of the same Regulations, which necessitate the licensed person preparation of an annual report and submitting it to the Board of Directors of the licensed person. It should include all the executed measures for the purpose of implementing the internal policies, procedures, controls and proposals for increasing the effectiveness and efficiency of such measures, and submitting a copy of the required report to the CMA by the end of next March, pursuant to the provisions of Circular No. (1) of 2015 issued on 7/1/2015.
The CMA anticipates the licensed persons' abidance by the provisions of "Anti-Money Laundering and Counter Terrorist Financing Regulations" to avoid punitive accountability subject to Law No. (7) of 2010 regarding the "Establishment of the Capital Markets Authority and Regulating the Securities' activity" and its Executive Bylaw, without prejudice to any stricter penalty which is stipulated in the Law of anti-money laundering and terrorist financing, or any other related laws.
Traders and Licensed Persons can visit the Capital Markets Authority's website (www.cma.gov.kw), Kuwait Stock Exchange's website (www.kse.com.kw), and the Twitter account @cma_kwt to keep up with the Authority's latest awareness announcements.
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.
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