The Financial Conduct Authority, FCA, in the United Kingdom & Kuwait
Dr. Ahmad Suliman Al-Otaibi
Assistant Professor, Public Law Kuwait International Law School- Kilaw
Abstract:
This paper examines the Capital Markets Authority, CMA. The Capital Markets Authority was established according to Law No. 7/2010 passed by the Kuwaiti parliament on February, 2010. The study examines the CMA within related Kuwaiti laws (i.e., constitution provisions, laws and by laws). It raises significant questions regarding legal provisions that govern the CMA in terms of formation and function. Moreover, it observes the legal relations between the CMA and members of staff. It discusses the legal relations between the CMA and the Central Government. The study questions whether the CMA is subjected to the public law or governed by the private law. Accordingly, the results would determine the jurisdiction of the courts.
The study also reveals the role of the CMA in governing capital markets. Therefore, it is beneficial to examine the legal system of the Financial Conduct Authority(FCA) of the United Kingdom, as such experience should provide essential materials to deliver a constructive study and help improve the CMA’s functionality.