Regulatory Alerts2018-03-29
Amendment of Business Conduct Regulation Series 3000
The Capital Markets Authority of Lebanon amended its Business Conduct Regulation Series 3000 by adding Article 3303 to formalize electronic and written client communication channels. The updated rule permits approved institutions to accept trading orders through any pre-agreed written medium, explicitly shifting operational responsibility to the client upon acknowledgment. This amendment enters into force upon Official Gazette publication, aligning transactional practices with the 2011 Capital Markets Law.
Announcement no. 33 On the Amendment of the Business Conduct Regulation Series 3000 Pursuant to the Law No. 161 dated 17/8/2011 on Capital Markets, Pursuant to the decision of the Board of the Capital Markets Authority No. 21/4/18 taken in its meeting held on 19/3/2018, We inform you of the following: First: Amendment of the Business Conduct Regulation Series 3000 whereas an article has been added related to the means of communication with the customer to receive orders and instructions related to transactions to part "d" related with dealing with customers, and here below is the article thereof: "3303 - Means of communication with the customer to receive orders and instructions related to trading operations The approved institution may receive the client’s orders and instructions related to trading operations by any means of communication agreed upon with the client in advance and in writing form, through which the client expresses his understanding that the use of the means agreed upon with the approved institution is at his own responsibility and agrees to hold the responsibility that may result from the use of such means.” Second: This Announcement shall enter in force upon its publication in the Official Gazette.
Beirut, March 29, 2018 Chairman of the CMA/ Governor of Banque du Liban Riad Toufic Salame