Title: Press Release: Regarding the Procedures and Measures Taken by the CMA to Achieve the Goals it was Established to Fulfill

Kuwait, November 2, 2021- As part of the Capital Market’s Authority (CMA) continuous endeavor to achieve the goals stipulated in Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, foremost regulating securities activities in a fair, competitive and transparent manner, ensuring compliance with laws and regulations related to such activities, as well as protecting persons dealing in securities activities, and reducing the systemic risks that are expected to occur in securities activities.

To accomplish such objectives, the CMA issues relevant resolutions and takes many appropriate controls and precautionary measures within the framework of the public interest.

The indication of this is that the CMA takes momentary decisions in the form of suspending the licensed person from practicing securities activities, or suspend dealing in the shares of a listed company in the Securities Exchange until the regulatory requirements are met or the violating situation is corrected, and until the CMA, through all concerned departments, completes a thorough inspection to ensure and determine the integrity of the company’s corrective procedures in fulfilling the regulatory requirements.

At the same time, the CMA enabled every person with a capacity and interest to communicate with it using the forms shown on the CMA's website and to submit direct correspondence through the public registry during official working hours.

Therefore, the CMA calls upon everyone to comply with the provisions of Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their amendments, and to follow the methods referred to above, and to distance themselves from committing legally wrong acts, especially not to violate the provisions of Article (127) of the Law, which confirms the necessity of enabling the CMA to carry out its legally prescribed supervisory  role and not obstructing it in any way whatsoever.

Additionally, taking into consideration the provisions of Law No. (63) of 2015 regarding combating information technology misconducts, especially paragraph (4) of Article (3), which considered the use of the internet or any means of information technology as a means to compel any natural or corporate person to perform an act or refrain from it as a criminal offense punishable by the aforementioned laws.

In conclusion, the CMA confirms that it will continue its supervisory and regulatory role, which will create a sound investment environment in the State of Kuwait based on the application of the law in accordance with the principles of fairness, transparency and integrity to keep pace with international best practice.

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: 22903062
Fax: 22903505 
Email: pr-media@cma.gov.kw