The Investment Studies Center (ISC) at Union of Investment Companies (UIC), in cooperation with the Grant Thornton Office – Alqtami, Alaiban & Partners, organized a specialized training workshops on "Disclosure & Transparency in accordance with Regulatory Requirements" and "Combating Money Laundering and the Financing of Terrorism" during the period (Monday - Wednesday) 29th April – 01st May 2019 from 8:30 am to 2:30 pm at the Union's headquarters, where the program was presented by Mr. Emad Al Hussein with the participation of a number of attendees from licensed companies and listed in Boursa Kuwait and advisory offices. This course is a part of the organizers’ keenness to follow up presenting the different subjects related to investment companies and regulatory entities
Ms. Fadwa Darwish, ISC Acting Director & Director of Technical Support at UIC explained that this training program comes within the framework of the specialized training programs provided by UIC in line with the needs of investment companies listed in Boursa Kuwait. The training course focused on the practical practices of applying disclosure and transparency and their general concept according to the regulatory requirements, where the instructor referred to the mechanism of disclosure of interests and the collection of properties in accordance with the book "Disclosure and transparency" of Law No. 7 of 2010 on the establishment of the Capital Markets Authority (CMA), as well as defining the internal information, insiders and the mechanism of their disclosure in listed companies. One of the most important topics that was reviewed was the accuracy of the information, the definition and the manner of disclosure, as well as the other themes that complement the subject of disclosure, namely the disclosure of financial statements and other institutional procedures of the regulatory bodies and how to develop the policies and procedures of disclosure.
As for the workshop "Combating Money Laundering and the Financing of Terrorism," Ms. Darwish added: "Our focus has been money laundering, customer acceptance, follow-up, records, the mechanism of notification, ongoing obligations and related penalties.
It is worthy to mention that this is the first cooperation between Grant Thornton's office in Kuwait with UIC, where there is a plan to offer more training events in various fields which are considered within the activities of the Office and UIC within their social responsibilities through the introduction of advanced training programs integrated In line with local and regional developments and requirements.
At the end of the training program, certificates were granted for participants.