Regulatory Alerts2016-06-09
Amendment of Decision 10 on Financial Intermediation Institutions
The Capital Markets Authority of Lebanon issued Announcement No. 20 to amend Decision 10 regarding financial intermediation institutions. The amendment introduces a new sub-article mandating that these institutions conduct annual, conflict-free valuations of all privately placed securities held in client portfolios and proprietary books. Institutions must accurately record these valuations in client statements and proprietary records, clearly marking privately placed securities with a disclaimer detailing the valuation methodology, conducting entity, and assessment date.
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