Regulatory Alerts2005-12-09
Collective Investment Schemes in Securities and Other Financial Instruments
The Central Bank of Lebanon, through Decree No. 15317 as amended by the Joint Parliamentary Committees, establishes a comprehensive regulatory framework for collective investment schemes in securities and other financial instruments. The legislation mandates prior licensing, defines the legal structures of mutual funds and variable capital investment companies, and imposes strict governance, valuation, and risk distribution requirements on managers and depositaries. It further codifies tax exemptions, investment limits, client protection rules, and specialized Sharia-compliant management models to ensure market stability and transparency.
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