CmaBoardReleases
Title: Capital Markets Authority Holds its Fifth Awareness Workshop on Violating Trading Conduct
Kuwait, May 31, 2016 – As part of CMA’s awareness program for the first quarter of the financial year, it has held its fifth awareness workshop at KSE building on Tuesday 31/5/2015 at 12:30 pm. It discussed the issue of the violating trading conduct. Many aspects were tackled such as:
- Trading while in possession of material information or its manipulation.
- Exchange’s fraud.
- Illegal trading acts.
- Penalties and punishments.
The workshop aimed at defining the violating trading acts and how to avoid them in order to achieve fairness among persons who deal in securities activities. The first aspect covered the meaning of inside information; the information that is not disclosed to the public, and whose disclosure would affect the trading price of a security. The speakers also talked about the specification of such information, in addition to the issue of trading while possessing of such information like the time of trading and the legitimate cases of trading while possessing the information.
The second aspect discussed the crime of fraud at the Exchange, the various types of such fraud and the negative effect of this act.
The third aspect covered the illegal acts of trading which are not considered as crimes but may require punitive accountability.
The last aspect was dedicated to the explanation of the most important penalties and punishments of trading conduct, whether they were classified as trading crimes or illegal acts.
At the end of the workshop, the participants were given time to ask questions which the speakers answered and clarified.
It is worth noting that CMA representatives at the workshop were Mr. Sulaiman Almousa – Director of Market Surveillance Department, Mr. Khaled Alqadi – Manager of Trading Supervision Section, Mr. Khaled Alsaqer –Director of Awareness Office, and Mr. Khaled Alfahad – Representative of Legal Affairs Sector.
Clarification 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 more information, kindly contact
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw