Chief-in-Editor  Prof. Badria A. Al-Awadi

Although the third annual conference of the Faculty of Law, which was held on 10-11 May , who devoted its sessions to discuss governance and the regulation of capital markets, was not the first neither in Kuwait nor in the Arab world, and certainly will not be the latest, but the issues and dilemmas discussed by more than 36 Kuwaitis , Arab and foreign researchers as well as facts and developments at the level of practice emphasizes the importance and usefulness of choosing this topic for the annual conference of the college, further questions and related issues raised, which are still pending, including, for example, but not limited to:
Why the implementation of the governance system faces a large number of obstacles especially in the capital markets in Kuwait , and the Arab states which is limiting the anticipated positive impact? Do the supervisory authorities need for implementation of governance itself a mechanism of governance and commitment to evaluate and activate that commitment? is the governance considers as burden on small and medium-sized companies that do business in the field of capital markets? And How to explain the withdrawal of dozens of companies from the market after the start activating the rules and standards of corporate governance in the companies? Is there a defect or lack in guarantees or is there an imbalance or that the traditions and market, including companies with all previous excesses hard to regulate and organize and take more efforts and time to handle ? Is it enough to enter the stock market authorities via organizational decisions and disciplinary sanctions to avoid legislative gaps which revealed the beginnings of the application or it must be the legislature to intervene?
These questions and others will continue to be raised and the need for researchers and scholars efforts, and our journal is always welcomed legal and scientific writings in this area, in order to enrich the debate and help to provide legal objective solutions for lawmakers ,executive and legal authorities.
On the other hand, at a time when the governments and the supervisory authorities, as is the case in Kuwait, allocated funds and established administrative institutions, both in the framework of the Ministry of Commerce or the Capital Markets Authority, some of those in charge of companies criticizes compulsory procedures regarding the standards and governance decisions, pointing especially to the financial cost, which is surprising because the system is designed basically to ensure transparency and integrity in the conduct of companies so as to ensure the development of their performance and enhance their profits, it is also a matter of re-emphasize that the moral and customary standards alone are no longer sufficient to ensure the smooth flow of the transparency and integrity of the various institutions for the economic and investment cycle ,stave off corruption and failure in various project management, it should be activate legal and objective criteria in partnership and interactivemeans, as well as regulatory and criminal, something that began to take hold day after day, and worth double and rationalizing financial and human investment being made in it, including the required legal, legislative and judgments solutions.
It is also important to emphasize in this context that the dissemination and application of corporate governance concepts and strive to achieve their objectives in various fields and sectors, as referred to in the research paper presented by Prof. Mohammad Al-Moqatei in the Conference and published within the issue, that will create a positive public environment conducive to achieving the objectives governance of promoting transparency, integrity and performance development and production within the institutions and companies, which reveals a positive impact on the economies and national communities through the tools accurate and specific mechanisms for the proper functioning and monitoring and evaluation and reform, which values ​​never meant restrictions on the owners of companies and private initiatives and executives in their quest to maximize their profits and their returns, but they provide safeguards for them and for our shareholders private and the regulators and society in general, the legal and regulatory equation positive and effective when properly applied and downloaded on the ground, raised and continues to raise the problematic legislative and doctrinal in the financial and legal community certainly needed to interpretations and suggestions researchers.
The governance is not only a measure or procedure or mechanism to monitor the management of companies or institutions , but it is the work system to development, evaluation and control, which are almost as leafy shade tree that derives its luster and growth from moral values ​​and norms of legal standards and procedural regulations and free creative wills of managers, initiators and organizers, as well as regulatory, economic and financial environment of which seeks to achieve the difficult balance between the broad area of ​​the Special initiative and the private sector to open and the protection of the community interests