Regulatory Alerts2017-01-01
Palestine Monetary Authority Instructions No. 1 of 2017 on Financial and Banking Products, Advertising, and Prize Campaigns
The Palestine Monetary Authority issued Instructions No. 1 of 2017 to enforce transparency and comprehensive disclosure standards for financial service providers regarding new products, advertising, and prize campaigns. The regulations mandate prior regulatory approval for new offerings and establish specific disclosure requirements for various advertising formats, including print, audio, and visual media. Non-compliance with these transparency and advertising standards is subject to fines ranging from $5,000 to $15,000 and potential orders to cease promotional activities.
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