Regulatory Alerts2021-05-11
Addendum Amending the Licensing and Registration Regulation Series 2000
The Capital Markets Authority of Lebanon issued Announcement No. 72 to amend the Licensing and Registration Regulation Series 2000, updating license requirements for financial institutions. The addendum revises fit-and-proper criteria, mandates Financial Institution Professional Indemnity insurance with a two billion Lebanese Pound minimum (exempting institutions exceeding five billion LBP in capital), and introduces a seven-day notification window for material business changes. These amendments standardize governance, risk management, and asset separation obligations while clarifying administrative liability coverage for managers and staff.
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