Tuesday, September 14, 2010

Union of Kuwaiti Investment Companies Studies the Constitutionality of New Capital Markets Law

AlQabas reports that the Union of Kuwaiti Investment Companies has been studying the new Capital Markets Authority Law as part of their self-proclaimed selfless desire to participate in all aspects of the economy and decisions relating thereto.  

As a result of these efforts, they've discovered some shortcomings it seems and have rather patriotically pointed these out to the authorities.   Further careful study has uncovered some articles which are clearly unconstitutional and,  as well, probably run counter to the original intent of the Founders.  By what I suppose might be described as sheer coincidence, the offending articles relate to penalties applicable to Kuwaiti investment companies.

Appropriate action will be no doubt be taken. 

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