Kuwait Financial Centre (Markaz) said it had collaborated with Union of Investment Companies to host the inaugural co-lecturing session on 'Regulating Dealing in Securities by Insiders' as per regulations of Kuwait Capital Markets Authority (CMA). 

 

The course, which was held recently in Kuwait, was designed to deepen the understanding of insider trading laws and foster compliance among Kuwait’s financial professionals, said Markaz in a statement.

 

This initiative is part of Markaz’s ongoing commitment to enhance the professional capabilities of the financial sector through expert-led training and knowledge sharing, reflecting the company’s culture of collaboration and leadership in financial education. 

 

It also falls in line with its CSR pillars of Building Human Capacity, aligning the business environment with the principles of sustainable development and promoting good governance in the business environment.

 

The training session was led by Amr Hafez, Senior Legal Advisor, and Mohammed A. Safsouf, Vice President of Fund Administration & Corporate Affairs at Markaz.

 

They provided participants with comprehensive insights into the practical and legal aspects of insider trading, emphasizing the importance of maintaining transparency and integrity within the financial sector.

 

On the key initiative, Hafez said: "The Kuwaiti legislature has made commendable strides in identifying and regulating insider trading practices for those who possess inside information."

 

The course covered crucial topics such as the responsibilities of listed companies and insiders, trading restriction periods, and procedures for maintaining a corporate insiders watch list and disclosure practices. 

 

"This course is a testament to Markaz’s commitment to localising correct knowledge among licensed individuals and bridging the gap between theoretical knowledge and practical application, ensuring that a team of seasoned professionals are well-equipped to uphold the laws and regulations set forth by the CMA in this regard," he added.

 

Adding to the discussion, Safsouf said: "In the current regulatory environment, it is imperative not only to understand but also to comply with insider trading regulations, which serve as a cornerstone of market integrity."

 

"If you think compliance is expensive, try non-compliance! At Markaz, we underscore the significance of 'Know Your Employees' (KYE) as a critical strategy to effectively mitigate regulatory risks," he added.

 

These discussions align with the findings of the World Economic Forum’s Global Risks Perception Survey 2023-2024, which highlighted misinformation and disinformation as significant short-term risks, underscoring the need for transparency.-TradeArabia News Service