Kuwait CMA Authority switches to post supervision

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KUWAIT CITY, April 26, (KUNA): The Capital Market Authority on Wednesday announced it was changing advance supervision of companies’ financial statements and schedules of general assemblies to post examination effective early June.

This step does not affect other supervisory requirements toward the other units under its supervision, namely the Central Bank of Kuwait and the Ministry of Commerce and Industry.

All relevant parties must abide by the Law 7/2010 regarding establishment of the Capital Market Authority, regulating the stock market, the executive regulations and instructions issued by the authority for boosting confidence in the market and the domestic business environment.

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