Regulatory Alerts2021-12-03
De-Listing of Julius Baer (Lebanon) SAL from the List of Financial Intermediation Institutions
The Capital Markets Authority issued Notice No. 79 to formally remove Julius Baer (Lebanon) S.A.L. from the List of Financial Intermediation Institutions, effective upon publication in the Official Gazette. This de-listing follows the Board's October 12, 2021 decision to cancel the firm's license subject to specific compliance conditions. The regulatory action confirms that all legal prerequisites for the cancellation have been verified and documented by the Authority's Chairman.
Capital Markets Authority CAPITAL MARKETS AUTHORITY
Notice No. 79
The Chairman of the Capital Markets Authority, pursuant to Law No. 161 dated August 17, 2011, concerning the Capital Markets, and pursuant to Decision No. 21/9/2 of the Capital Markets Authority Board, taken in its meeting held on October 12, 2021, approving the cancellation of the license of "Julius Baer (Lebanon) S.A.L." subject to compliance with certain conditions, and after reviewing the submitted documents confirming that the legal conditions for this cancellation are met,
has decided as follows:
Article One: "Julius Baer (Lebanon) S.A.L.", registered in the list of financial intermediation institutions under number 1, is removed from said list.
Article Two: This notice shall be published in the Official Gazette.
Beirut, on December 3, 2021 Chairman of the Capital Markets Authority / Governor of the Central Bank of Lebanon
(Signature)
Riad Toufic Salamé
Rome Street, Wardieh Hamra - P.O.Box 5358, Beirut, Lebanon - T +961 1 987 250 info@cma.gov.lb www.cma.gov.lb