Regulatory Alerts2000-06-10
Regulating the Financial Intermediation Profession
The Lebanese Parliament enacted Law No. 234 to establish a comprehensive licensing and regulatory framework for financial intermediation institutions operating in Lebanon. The legislation mandates prior authorization from the Banque du Liban, defines permissible operations such as derivatives trading and portfolio management, and sets strict capital, registration, and client protection requirements. It further empowers the central bank to enforce compliance through administrative sanctions, delay penalties, and mandatory audits while prohibiting unauthorized entities from using protected financial designations.
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