(MENAFN- Kuwait News Agency (KUNA)) The Capital Markets Authority has underlined its commitment to better regulate businesses, protect shareholders and strengthen the financial sector in general and individuals who have licenses to work on the stock market in particular.
During a workshop held by the CMA Tuesday on the field inspection of licensed persons, Director of the Coordination and Follow-up Office of the CMA's Inspection Department Saud Al-Qamlas said that the inspection department aims to create an effective supervisory system of risk-control and the full abidance by regulations.
Al-Qamlas added that the CMA's inspectors seek take all necessary measures to ensure sustainability and safety of the financial situation of the licensed persons and to avoid risks that could undermine the listed companies and the whole financial sector.
They also take pre-emptive moves to address imbalances that may pose a threat to the market, he said.
He went on to say that the inspection department is trying to raise awareness about how traders and financial institutions abide by the law No. 7 of 2010 on the establishment of Capital Markets Authority and securities regulatory activity and its executive regulations.
The utmost goals of the CMA are to avoid or reduce the risks, ensuring full transparency and fair competition on the market, he said.
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