The Investment Studies Center (ISC), the training arm of Union of Investment Companies (UIC) held a training program on “Regulating Dealing in Securities by Insiders according to Kuwait CMA Rules”, on 25th April 2024 at UIC premises. The program was presented by Counselor Amr Hafez - First Deputy - Head of the Legal Department at Kuwait Financial Centre S.A.K.C., and a member of the Legal Committee of UIC, and Mr. Mohammad A. Safsouf, Vice President of the Corporate Affairs Department at Kuwait Financial Centre (MARKAZ), and the expert, legal advisor and certified specialist in the field of anti-laundering. Funds from ACAMS.
Mrs. Fadwa Darwish – UIC Secretary General, stated that the training program was held within the framework of the plan of ISC to spread awareness and knowledge to employees of investment companies and all those concerned regarding the administrative, legal and technical aspects related to the work of companies, as the program aimed to shed light On best practices regarding procedures for dealing in securities for insiders; This enables participants to avoid any violations that may affect the interests of their companies.
The training program covered several topics, as it included a detailed and comprehensive definition of the insider, and the circumstances in which the person is an insider in the listed company. The participants also learned about the responsibilities of both the listed company and the insider, the no-dealing periods, the insider’s obligations in terms of disclosure, and the stock exchange’s obligations.
To ensure the provision of a fruitful and effective training experience; Practical examples and cases were discussed with the participants, which allowed them to acquire the skills and tools necessary to perform their tasks efficiently in accordance with the requirements of the Capital Markets Authority.
At the conclusion of her statement, Mrs. Fadwa Darwish stressed the importance of training and developing employees in the investment sector on a regular and continuous basis to keep pace with the latest developments in the world of finance and business and in accordance with the requirements of the regulatory authorities in the State of Kuwait.