Markaz partners with UIC to offer first course on regulating insider trading under Kuwait’s CMA regulations – ARAB TIMES – KUWAIT NEWS

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Kuwait, May 25: Kuwait Financial Center ‘Markaz’ in collaboration with the Association of Investment Companies (UIC) hosted the inaugural session of joint lectures on ‘Regulation of securities trading by insiders’ in accordance with the regulations of the Kuwait Capital Markets Authority (MOTH). The aim of the course, which took place on April 25, 2024, was to deepen the understanding of insider trading regulations and promote compliance among financial professionals in Kuwait.

The training session was led by Mr. Amr Hafez, Senior Legal Advisor, and Mr. Mohammed A. Safsouf, Vice President of Fund Administration and Corporate Affairs at Markaz. They provided participants with a comprehensive insight into the practical and legal aspects of insider trading, highlighting the importance of maintaining transparency and honesty in the financial sector.

Commenting on the occasion, Mr. Hafez noted: “The Kuwaiti legislature has made commendable progress in identifying and regulating insider trading practices for insiders. This course is a testament to Markaz’s commitment to locating the correct knowledge among licensed individuals and bridging the gap between theoretical knowledge and practical application, ensuring that the team of experienced professionals is well prepared to comply with the laws and regulations set out by the CMA in this respect.”

Intervening in the discussion, Mr. Safsouf said: “In the current regulatory environment, it is imperative not only to understand but also to comply with insider trading regulations, which are the cornerstone of market integrity. If you think compliance is expensive, try non-compliance! At Markaz, we emphasize the importance of Know Your Employees (KYE) as a key strategy to effectively mitigate regulatory risk.

The course covered key topics such as the responsibilities of listed companies and insiders, trading restriction periods and procedures for maintaining a corporate insider watchlist and disclosure practices. These discussions align with the conclusions of the World Economic Forum’s 2023-2024 Global Threat Perception Survey, which highlighted that disinformation and disinformation pose significant near-term risks, underscoring the need for transparency.

This initiative is part of Markaz’s ongoing commitment to enhancing professional opportunities in the financial sector through expert-led training and knowledge sharing, reflecting the company’s culture of collaboration and leadership in financial education. It is also consistent with its CSR pillars, such as Building human capacity, Adapting the business environment to the principles of sustainable development and promoting good governance in the business environment.