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CMA LAW: CMA Circular No. (11) of 2025 on the Ministry of Commerce and Industry Resolution No. (16) of 2025 Regarding Amendment to Some Provisions of the Ministerial Resolution No. (04) of 2023 on the Procedures of Identifying the Identity of the Beneficial Owner
Date Publish
20 April 2025
"Circular to All Licensed Persons"
Chairman of the Board of Directors
Greetings,
With reference to the Ministry of Commerce and Industry Resolution No. (16) of 2025 Regarding Amendment to Some Provisions of the Ministerial Resolution No. (04) of 2023 on the Procedures of Identifying the Identity of the Beneficial Owner, published in the Official Gazette “Kuwait Al-Youm” in its issue no. (1728) on Sunday 02/03/2025 (attached), and on this regard, the Capital Markets Authority (CMA) confirms that the amendments mentioned in the aforementioned Ministerial Resolution which included in Item (2) of Article (3) that “Legal entities listed in local and international exchanges that are subject to the disclosure requirements which ensure sufficient transparency of the beneficial ownership as well as their subsidiary companies of majority ownership are exempt from implementing the provisions of this Resolution”, as they do not conflict with the CMA’s supervision of the licensed persons pursuant to the commitments imposed by the provisions of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its amendments. Accordingly, you are required to continue submitting “the forms of the due diligence procedures that should be met by the licensed persons by the CMA and the entities that submit license applications to the CMA” through the CMA’s electronic portal.
Emad Ahmed Tifouni
Issued on: 20/04/2025.
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.
