Regulatory Alerts2019-09-24
Amendment to the Capital Markets Business Code Regulation Series 3000
The Capital Markets Authority of Lebanon issued Announcement No. 62 to amend Articles 3319 and 3521 of its Business Code Regulation Series 3000. The revised provisions require approved institutions to promptly issue contract notes containing specified annex details and deliver monthly account statements to registered postal addresses, granting clients a two-week period to dispute any transactions. Compliance departments must verify statement delivery and obtain annual portfolio signatures, with agents authorized to act on behalf of clients under power of attorney, while the amendments take effect upon official gazette publication.
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