Latest news with #regulations
Zawya
41 minutes ago
- Business
- Zawya
CMA outlines rules for investment dealings with 'former Kuwaiti citizens'
KUWAIT CITY - The Capital Markets Authority (CMA) has issued Circular No. 20 of 2025, outlining key regulations for dealing with individuals whose Kuwaiti citizenship has been revoked under the "Noble work" clause of Article 5 of Amiri Decree No. 15 of 1959, which governs the Kuwaiti Nationality Law. The circular, addressed to all licensed entities and authorized persons, follows the Ministry of Interior's statement issued on July 10, which detailed the legal status, residency rules, and restricted rights applicable to those affected by this category of citizenship revocation. According to the CMA, the objective of the circular is to ensure full compliance with the legal and regulatory frameworks that govern the treatment of such individuals, particularly within the investment and financial sectors. The Authority emphasized the importance of adjusting internal policies accordingly to avoid violations. Key regulatory measures The circular highlighted main controls that authorized entities must follow: Revoked Individuals Not Considered Kuwaitis: Anyone whose citizenship has been withdrawn under the 'Noble work' clause will no longer be considered a Kuwaiti citizen to implement CMA laws and regulations. Such individuals will also lose eligibility for rights and benefits granted to Kuwaiti citizens once the grace period granted by the Ministry of Interior expires. Verification of Legal Status: All authorized persons must verify the legal status and valid residency of clients affected by the Amiri Decree. This includes examining official documents confirming their status post-citizenship revocation. For decrees issued before July 20, 2025, the four-month grace period begins from that date. For future cases, the grace period will begin from the date of issuance of each new revocation decree. Review and Update of Client Records:: In the case of existing investment transactions or business relationships with affected individuals, their legal status must be reviewed and updated to ensure alignment with current legal and regulatory frameworks during the status adjustment period. Additionally, the CMA advised that if any licensed person seeks official clarification on a client's status, they should contact the Article Eight Affairs Office at the Ministry of Interior, which is the competent authority responsible for determining applicable benefits and procedures in these cases. The Authority stressed the necessity for full adherence to applicable legislation and related decrees concerning citizenship revocation. It urged licensed firms and individuals to revise their internal compliance policies to avoid unauthorized dealings or regulatory breaches. This move reflects Kuwait's broader efforts to ensure legal clarity and institutional alignment in handling sensitive nationality-related cases within the country's financial and investment sectors.
Zawya
a day ago
- Business
- Zawya
CBUAE suspends motor insurance business of a foreign insurance company's branch
Abu Dhabi: The Central Bank of the UAE (CBUAE) suspended the motor insurance business of a foreign insurance company's branch (insurer), pursuant to Articles (33) and (44) of Federal Decree Law No. (48) of 2023 Regulating Insurance Activities. The insurer remains liable for all rights and obligations arising from insurance contracts concluded before the suspension. This action comes as a result of the entity's failure to comply with the solvency and guarantee requirements, specified in the Law and prevailing regulations governing insurance companies in the UAE. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all insurers, their owners and staff comply with the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the insurance sector and safeguard the UAE financial ecosystem.
CBC
2 days ago
- Automotive
- CBC
'Free for all': Advocates call for e-scooter regulations as injury numbers climb
Hospitalizations related to electric scooters have increased and some advocates point to a lack of regulations around the use of the two-wheelers in Manitoba. Latest data from the Canadian Institute for Health Information (CIHI) said that nearly 1,000 people were hospitalized nationally for scooter-related injuries during the 12-month period starting April 1, 2023. That's up from 810 during the same period of 2022-23. Half of the injuries — 498 — were related to motorized e-scooters, an increase of 32 per cent over the 375 hospitalizations recorded in 2022-23. In the same time period Manitoba saw the rise in the total number of injuries jump by 50 per cent. "I get scared for them because, between a car and a scooter, who's going to win?" said cyclist Marian Siemens, who almost got into an accident earlier this summer because a e-scooter rider ignored a red light. "He was not paying any attention to the traffic. He could have got smacked … then what would have happened?" She believes regulations would help curb dangerous driving. "If they don't follow the rules of the road, they should be fined," she said. Pamela Fuselli, the CEO of Parachute, a national organization focused on injury-prevention across many fields — at home, on the road, and through activities — said e-scooters are a great low-cost transportation options but they are not toys. "The injuries can go from cuts and bruises from falling off the e-scooter to broken bones and serious head injuries," she said. "Kids under 16 really shouldn't operate these scooters." Currently in Manitoba, e-scooters are unregulated which means anyone, at any age, can drive the motorized scooter on streets, sidewalks, and bike paths going any speed. "I'm just aware of my surroundings and I pick where I drive. I just want to make sure I'm protected if something happens," said Edward Fortier, who uses a scooter to get around the city and commute to work. "I do know a few people who have had pretty bad accidents on e-scooters, so that's in the back of my mind." He avoids streets with heavy traffic and plans his route around residential areas or roads that have bike paths he can use. He says some e-scooter users drive recklessly on the road, making things unsafe for pedestrians, cyclists, and cars. "If I'm on a sidewalk and there's people … I'm not going to go full speed if there's people walking." 'Not a policy priority' Rob Kristjansson wants to see motorized e-scooters regulated in Manitoba, much like an electric bike. "I call it a legal grey area," said Kristjansson, who has been advocating for regulations for years and is a moderator of the e-scooter Winnipeg Facebook group. According to the City of Winnipeg, motorized vehicles fall under the Highway Traffic Act, which means regulations fall under provincial legislation. But Kristjansson says amendments made to the act in 2022 give municipalities the power to create bylaws that would set speed limits on shared roads. The city looked into regulations when there was strong interest in creating scooter-sharing programs, but once that interest died down so did the city's. Kristjansson has advocated for regulations around speed, age, and where e-scooters can be driven but says he continues to hear the same message from his city councillor: "It is not a policy priority for me in this term." "I appreciate that the city has many priorities,I just want my thing on the list," he said. Until motorized scooters are formally recognized in the province, people will continue getting hurt, Kristjansson saod, adding it's a small step with positive impacts down the line. "To empower regulatory authorities to say 'hey, what you're doing is unsafe, you need to behave like a cyclist' instead of this free for all." A provincial spokesperson told CBC, "as the use of e-scooters continues to grow, the Manitoba government is actively exploring options to establish a regulatory framework to guide their safe and responsible use across the province." Amid rising injury rates, advocates call for e-scooter regulations in Manitoba 2 hours ago It's becoming a popular way to get around, but with the increase of electric scooters on the road, hospitalizations because of them are increasing and some are blaming the lack of rules around their use.
Auto Car
2 days ago
- Automotive
- Auto Car
Cadillac is finally set to return to the UK with two-car line-up
'We look at our links from a global perspective, and then we decide which are the programmes we're going to bring to Europe.' Brugal added that the key to bringing an even wider portfolio of GM cars to the UK and Europe quickly would be down to legislation, given that some cars sold in the US, for example, could not be sold in Europe given the disparity in emission regulations and safety standards. 'If the regulations between the US and Europe harmonise, it will make our life easier," he said. "We will bring a lot of benefit to the final customer, because that will increase the range of options.' Europe could even get its own bespoke GM model, said Brugal. While not yet confirmed, the possibility is being considered given the different wants and expectations of buyers in different markets. 'We craft cars that we don't have in the US, but we have them in other markets," Brugal said. "We have cars that are specific for the South America region, and we can have cars that are more of an Asia or China portfolio. 'Not all of them are available in the US, and not everything which is available in the US is available for China customers or European customers. 'In the future, can it be that [we create a] car that is [just] for Europe, Australia, New Zealand, Japan or Korea? Maybe it can be.' In the near-term, each brand that comes to the UK will have a separate retail strategy, he said, and not be grouped under one GM umbrella – like JLR, for example. 'We don't envisage a future where we're going to be mixing Cadillac with Corvette,' he said. 'Corvette has its own DNA, and it's going to be staying as a standalone brand. Cadillac has its own entity as well." As such, they will be sold in different ways. For example, while Corvette will continue to be sold via dealer partners such as Arnold Clark, Cadillac will instead use an online-based agency model supported by 'experience' pop-up stores.
New York Times
2 days ago
- Politics
- New York Times
How New York Schools Will Crack Down on Cellphones
Good morning. It's Monday. Today we'll get details on new regulations that will bar students from having cellphones in class once school starts in September. For students in New York City's 1,600 public schools, something will be different when the 2025-26 academic year begins on Sept. 4, thanks to one sentence on Page 5 of an eight-page regulation that was approved last week: 'Students may not use personal internet-enabled electronic devices during the school day.' Translation: No smartphones in class. Or in the gym. Or in the cafeteria. Is it a ban? The Department of Education asked that question — but did not answer it — on a webpage explaining the new policy. But there is no question that the city's restrictions mirror state regulations championed by Gov. Kathy Hochul, who maintains that a 'bell-to-bell' prohibition through the school day would mean better learning and less cyberbullying. Hochul is so committed to the idea that the $254 billion state budget deal for the fiscal year that began on July 1 included $13.5 million for school districts that need help purchasing equipment to store cellphones. Hochul said during a recent appearance with Schools Chancellor Melissa Aviles-Ramos that Mayor Eric Adams was putting in $25 million in New York City, where about half of the schools had already imposed regulations on their own. The city's rules will differ from school to school. The Department of Education says that each school will develop its own policy, in writing. The FAQ section on the department's webpage says that children can take their phones to school, but that once they arrive, the phones must be stored. Phones can go into 'school-assigned personal or shared lockers' or cellphone pouches, but cannot simply remain in a backpack all day. 'Backpacks alone are not considered a sufficient storage option, unless they are kept in a closet or cubby that cannot be accessed by students without permission,' the webpage says. Want all of The Times? Subscribe.
