Regulatory Alerts2013-08-14
Compliance Departments in Certain Joint-Stock Companies
The Capital Markets Authority of Lebanon mandates designated joint-stock companies to establish independent Compliance Departments ensuring adherence to capital market laws, regulations, and anti-money laundering standards. These departments must be staffed by qualified personnel or approved external institutions, report semi-annually to the board of directors, and submit annual compliance assessments to external auditors. Applicable companies have one year from official gazette publication to implement these provisions, with non-compliance subject to administrative penalties.
Share