Title: Press Release on Resolution No. (152) of 2024

Kuwait, November 10, 2024 - As part of the Capital Markets Authority’s (CMA) continuous pursuit to develop the rules that regulate securities activities, the CMA has issued on Sunday 10/11/2024 Resolution No. (152) of 2024 Regarding Amending Article 5-3-2 Item 2 of and Form No. 2 (Report Indicating Securities Investment Portfolios of the Licensed Person) of Appendix 2 of Module Seven (Clients’ Funds and Clients’ Assets) 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.

Based on the CMA’s pursuit to develop its work environment to keep pace with the latest developments and to be in line with the CMA’s objectives in the field of digital transformation and raising the efficiency of working in an electronic environment, some data and information were added to Article 5-3-2 Item 2 and Form No. 2 (Report Indicating Securities Investment Portfolios of the Licensed Person) of Appendix 2 of Module Seven (Clients’ Funds and Clients’ Assets) of the Executive Bylaws of aforementioned Law for the suspended Securities Investment Portfolios at the person licensed to practice the activity of Investment Portfolio Manager, the purpose of which is to clarify the date of suspending the Investment Portfolio, the suspension reasons, and the procedure taken regarding the suspended Investment Portfolio and its date.

This amendment aims to provide a flexible environment at the CMA for following-up the procedures of the Investment Portfolios Managers at the suspended Investment Portfolios through simplifying the handling procedures and facilitating the provision of the required information and data in the periodic reports electronically.

Ends-
Note 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