Kuwait Approves Capital Market Regulator Bill

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Kuwait’s parliament approved a capital markets bill allowing the creation of the emirate’s first stock market regulator.

The law, approved by 48 lawmakers and opposed by one in the second and final round of voting today, stipulates the establishment of an independent capital market authority comprised of five members who will be appointed by a decree of the emir, according to a copy of the bill.

The bill will bring more transparency to the Kuwait Stock Exchange, which has lacked regulation and affected small investors, lawmakers said.

The authority’s responsibilities would include regulating bourse activity “so that it is fair, competent, competitive and transparent,” according to the bill. It will also supervise public and private subscriptions, and regulate and supervise acquisitions and mergers.END