Regulatory Alerts2018-07-26
Related to the Reporting of Financial Statements
The Capital Markets Authority of Lebanon requires all legal entities to submit audited financial statements for the year ending 31 December 2017 within ten working days of this announcement publication in the Official Gazette. Non-compliant entities face administrative sanctions under Capital Markets Law No 161, and the directive takes immediate effect upon official gazette release. This mandate enforces Article Forty Four of the governing capital markets legislation to ensure timely financial reporting across regulated organizations.
Announcement No 37 Related to the obligation of providing financial statements Pursuant to Law No 161 dated 17/8/2011 on Capital Markets, especially Articles 2 & 11 (in particular clauses “a”, “c” and “e” of Paragraph II) and Articles 36, 42 & 44 thereof, Pursuant to the decision of the Capital Markets Authority’s Board No 18/8/2018 taken in its meeting held on 9/7/2018, We inform you of the following: First: All legal entities are requested to abide by Article Forty Four of Law No 161 dated 17/8/2011 on Capital Markets. Second: All legal entities are given a period of ten working days from the date of publication of the present Announcement in the Official Gazette to provide the Capital Markets Authority with the financial statements audited by the Auditor for the year ending on 31/12/2017. Third: Any party that breached the provisions of the present Announcement will be subject to the administrative sanctions provided for in the applicable laws and regulations, in particular in Law No 161 dated 17/8/2011 (on Capital Markets). Fourth: This Announcement shall enter in force upon its publication in the Official Gazette. Beirut, July 26, 2018 Chairman of the CMA/ Governor of Banque du Liban Riad Toufic Salame