Capital Markets Authority Wins Board Membership IOSCO For Second Time


(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Feb 13 (KUNA) -- The Capital Markets Authority (CMA) announced on Tuesday winning a position as a board representative for the Growth and Emerging Markets Committee (GEMC) in the International Organization of Securities Commissions (IOSCO) for two years, for the second consecutive time.
In a press release, CMA said that the GEMC is the largest committee in IOSCO, with 115 members representing 75 percent of its regular and observer members.
The committee's goal is to develop and enhance the effectiveness of emerging markets by establishing controls and standards that will increase the efficiency of these markets, in addition to providing training programs for member countries.
CMA aims to open new avenues of cooperation and closely follow the experiences of representatives from advanced markets in the areas of regulating and supervising financial markets, as well as new and advanced investment instruments, in addition to benefiting from the participation of the IOSCO board in various prestigious international organizations.
In this regard, the CMA affirmed that the goal of this membership is to achieve maximum benefit through the exchange of experiences and working closely with member countries in the IOSCO, which will have a significant impact on meeting regulatory and legislative aspirations in the Kuwaiti financial market and achieving future economic visions within the goals of Kuwait Vision 2035.
CMA commneded the efforts and support of the Minister of Commerce and Industry Abdullah Al-Jouaan, as it has a significant influence on the authority's continued progress.
The Capital Markets Authority of Kuwait, established 2010, regulates and supervises securities activities, ensures transparency, fairness, efficiency, and observes listed companies' implementation of Corporate Governance regulations, in addition to protecting investors from unfair practices and violations of the CMA's Law. (end)
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