CMA sets regulatory framework for contractual collective investment systems
7th edition of collection of poems composed by Dr Suad Al-Sabah issued
KUWAIT CITY, Aug 1: Capital Markets Authority (CMA) has set the regulatory framework for contractual collective investment systems.
According to a press release, this step is based on the efforts exerted by the Capital Markets Authority to achieve its strategic direction and enhance its continuous efforts aimed at producing an integrated legislative environment to regulate and supervise securities activities by reviewing the existing legislation and making necessary updates.
The authority has been keen, since the issuance of executive bylaws of law No. 7/2010 on the establishment of CMA and the regulation of the securities activity and its amendments in November 2015, to make successive amendments in the various articles in all 16 chapters. This is aimed to develop some provisions of the articles of those executive bylaws to take into account the requirements of practical application and keep up with the latest international developments related to securities activities in order to be consistent with the approved international standards.
CMA’s decision No. 100/2018 does not divert from its framework, although it is of special importance for several considerations.
It aims at establishing special rules for contractual collective investment systems that are established for the purpose of investing funds owned by two or more professional agents. The purpose is to enable customers participating in these systems to participate or obtain profits that may arise from the acquisition, possession, management or disposition of such assets, taking into account the comprehensiveness of the said decision for most of the required modifications.
This makes it a regulatory framework for contractual collective investment regimes. The technical advantages offered by the amendments contained in the resolution gives it greater importance.
Suad Al-Sabah Publishing House issued the 7th edition of the collection of poems titled “Urgent cables for my country” composed by Dr. Suad Al-Sabah.
The 7th edition coincides with the 28th anniversary of the Iraqi invasion of Kuwait on August 2, 1990.
Dr. Suad Al-Sabah is known of her work in prose and poetry that reflect her patriotism and unlimited love for Kuwait and her passion to defend its causes.
The first edition for this collection was published in 1990 and included eight poems. A number of poems were used in the text books of various educational levels in Kuwait and other Arab countries as well due to their exceptional standard.