Regulatory Alerts2019-08-22
Amendment to the Business Conduct Regulation (Capital Markets Series 3000)
The Capital Markets Authority of Lebanon amends Article 3506 of its Business Conduct Regulation to mandate that approved institutions receive client funds exclusively through cheques, certified cheques, electronic transfers, or POS machines. This amendment restricts permissible payment methods to ensure standardized fund handling across regulated entities. The revised provision takes effect immediately upon its publication in the Official Gazette.
CAPITAL MARKETS AUTHORITY Announcement No. 60 On the amendment of the Business Conduct Regulation in Capital Markets Series 3000 Pursuant to Law No. 161 dated 17/08/2011 on Capital Markets, Pursuant to the decision of the Board of the Capital Markets Authority No. 28/12/19 adopted in its meeting held on 16/07/2019, We advise you of the following: First: Paragraph (1) of Article 3506 of the Business Conduct Regulation in Capital Markets related to handling client money shall be amended to read as follows: “An approved institution must only receive funds from a client by cheque, certified cheque or electronic transfer or by using a POS machine”. Second: This announcement shall enter in force upon its publication in the Official Gazette.
Beirut, August 22, 2019 Chairman of the Capital Markets Authority/ Governor of the Central Bank of Lebanon Riad Toufic Salame (Signed)