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CMA
KUWAIT CITY, August 20: Since its inception, the Capital Markets Authority (CMA) has diligently taken the necessary measures to achieve the objectives set out in Article (3) of Law No. 7 of 2010 and its subsequent amendments. A key focus of these goals is the regulation of securities activities to ensure fairness, competitiveness, transparency and the protection of participants in this area. The aim is to reduce the risks associated with such activities, reports the daily Al-Rai. In an exclusive statement to Al-Rai, the Capital Markets Authority underscored its ongoing efforts to promote awareness of the fundamental principles of investing in the financial markets. This effort aims to educate the public of all walks of life, including novice and retail investors, about ways to identify and mitigate the risks associated with this form of investing.
In addition, the agency strives to improve understanding of financial fraud and related misconduct. At the same time, the authority has committed itself to refine the regulations and laws for the Kuwaiti financial market. This commitment stems from a desire to adapt to the dynamic growth in this important economic and financial sector, while seeking harmonization with global best practices. The most recent step in this direction was the publication of Resolution No. (166) of 2022. This resolution is intended to improve the provisions of the implementing regulations of Law No. 7 of 2010, which relates to the establishment of the capital market regulator to regulate the securities business and its subsequent changes. These improvements include a major overhaul of investment adviser policies in all licensed firms.
efforts
In line with these efforts, the Authority has introduced the establishment of a registry for professionals involved in financial analysis. These professionals are authorized to disseminate analysis of the stock market and trends in the capital market. However, certain prerequisites and criteria to ensure competence apply to this practice. The authority emphasizes its exceptional approach, which highlights professionals who want to provide educational and information services about the general development of the exchange. This practice is consistent with the constitutional guarantees of freedom of speech and expression under Article (36) of the Kuwaiti Constitution.
However, the Authority stresses that rights inherently come with specific duties and responsibilities and may therefore be subject to legal controls and well-defined regulatory frameworks. These measures protect the market and its participants and prevent fraudulent activities aimed at illicitly hijacking citizens’ funds and consuming their savings. With this in mind, the Authority urges everyone involved in securities trading to critically review recommendations, advice and analysis disseminated across various social media platforms and media channels. Caution should be exercised not to rely solely on recommendations from unauthorized sources, even if they claim to be from authorized individuals.
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