Regulatory Alerts2013-11-20
Decision No. 6 on Prohibiting Insider Trading and Exploitation of Non-Public Information in Lebanon's Capital Markets
The Capital Markets Authority and Lebanon's Central Bank issued Decision No. 6 to prohibit the exploitation of inside non-public information by insiders and closely related persons during capital market trading. The regulation mandates investment service providers to maintain updated insider lists and report relevant securities transactions within three business days, while imposing a ten-day pre- and post-disclosure blackout period on trading activities. It defines qualifying financial instruments and inside information, extends prohibitions to third-party disclosures and advisory activities, and authorizes the regulator to impose administrative penalties for violations under Law No. 160 of 2011.
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