Regulatory Alerts2023-03-08
On Amending the Business Conduct Regulation Series 3000 and Market Conduct Regulation Series 4000
The Capital Markets Authority, acting through the Governor of Bank of Lebanon, issued Notice No. 89 to amend Articles 3318 and 3521 of the Business Conduct Regulation Series 3000, and Paragraph 8 of Article 4202 of the Market Conduct Regulation Series 4000. The amendments mandate licensed institutions to deliver client reports, statements, and fee schedules via paper, email, or SMS while ensuring electronic integrity under Law No. 81 and obtaining annual portfolio signatures through compliance oversight. Furthermore, the updated fee schedule takes effect after a mandatory two-week notification period unless the client objects, with passage of this period constituting implicit approval for ongoing fee and commission collection.
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