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Title: Press Release Regarding Resolution No. (90) of 2024
Date Publish
21 July 2024
Kuwait, July 21, 2024 – As part of the ongoing efforts of the Capital Markets Authority (CMA) to develop the regulatory framework of securities activities and of the public shareholding companies listed at Boursa Kuwait Securities Exchange subject to the CMA’s supervision in some of their operations, the CMA issued on Sunday July 21, 2024 Resolution No. (90) of 2024 Regarding the Exemption of the Companies Subject to the Supervision of the Insurance Regulatory Unit from the Provisions of Module Fifteen (Corporate Governance) of the Executive Bylaws of Law No. 7 of 2010 by adding some amendments to the provisions of Module One (Glossary) and the provisions of Module Fifteen (Corporate Governance) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments, provided that this resolution shall come into force as of 01/01/2025.
This amendment is in line with the MoU between the CMA and the Unit regarding the roles determined by the legislator for the Insurance Unit in the areas of regulation and supervision of companies operating in the insurance activity, and the potential overlapping of some jurisdictions in the areas of joint work between the CMA and the Unit.
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
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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