Kuwait's newly formed regulator Capital Markets Authority (CMA) has given investment funds until March 2012 to impose a cap on their ownership in individual financial securities, the state news agency said on Monday.
According to the CMA bylaws, which came into effect in March but are still not fully implemented, an investment fund operating in Kuwait cannot own more than ten percent in a single security.
'The CMA's decision comes from its responsibility towards the national economy and after following economic developments and the situation of Kuwait's stock market,' KUNA cited a CMA statement late on Monday.
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