Regulatory Alerts2023-03-08
On Amending the Business Conduct Regulation Series 3000
The Capital Markets Authority, acting through the Governor of the Central Bank of Lebanon, issued Notification No. 91 to amend Article 3321 (Customer Complaints) and append a final paragraph to Appendix No. 9 of the Business Conduct Regulation Series 3000. The amendments clarify that submitting a complaint to the Authority does not preclude clients from pursuing direct legal action before competent judicial courts, particularly given the current absence of a dedicated penalty committee and financial court. This notification takes immediate effect upon publication in the Official Gazette, thereby streamlining dispute resolution pathways for licensed financial institutions and their clients.
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