Kuwait: Financial Sector Assessment Program—Detailed Assessments of Observance of Standards and Codes—International Organization of Securities Commission (IOSCO)—Objectives and Principles of Securities Regulation
IMF Staff Country Reports, November 8, 2004
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- Kuwait: Financial Sector Assessment Program—Detailed Assessments of Observance of Standards and Codes—International Organization of Securities Commission (IOSCO)—Objectives and Principles of Securities Regulation
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Bibliographic details
- Published: November 8, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451822311.002
Summary and purpose
- Reviews preconditions for effective securities regulation in Kuwait.
- Notes the securities market in Kuwait is the second largest in the Arab world in terms of value of trading and market capitalization.
- Identifies key regulatory gaps and needs for clearer rules and enforcement.
Major findings
- The securities market ranks as the second largest in the Arab world by value of trading and market capitalization.
- A set of well-articulated and clear regulations and procedures governing public offering of securities, including tender offers, should be prepared and enforced.
- Rules governing mergers and acquisitions are not in place and need to be well defined.
Policy implications and recommended actions
- Prepare and enforce comprehensive regulations and procedures for public offerings of securities, explicitly covering tender offers.
- Define and introduce clear rules governing mergers and acquisitions within the securities regulatory framework.
- Strengthen regulatory clarity and enforcement capacity to support effective securities market functioning.