Capital Markets Authority Decision Number 20 on Filing Procedures for Market Complaints

Decision Number 20 On How to File a Complaint The Chairman of the Capital Markets Authority (CMA) / Governor of the Central Bank of Lebanon, Pursuant to the Law No 161 dated 17/8/2011 on the capital markets, particularly Article 11, Pursuant to the decision of the Capital Markets Authority’s Board 9/2/16 taken in its meeting held on February 22, 2016, Declares the following, Article 1: The Board shall receive complaints about all matters falling within its competence according to the Law No 161 dated 17/8/2011 on the capital markets. Article 2: There shall be no complaint filed at the Capital Markets Authority before the complainant had first communicated with the party against which he is filing the complaint. He has to submit to the Capital Markets Authority a proof that such communication has taken place, and that despite intensive efforts there has been no settlement of the dispute, nor he had received any reply within a period of 3 months from the date the concerned party received the communication. Article 3: A complaint form attached to this decision and published on the CMA website is used to file complaints. The complaint must be based, at the risk of being rejected, on a precise violation confirmed by written documents supporting the complaint filed at the Capital Markets Authority. Article 4: The Capital Markets Authority examines the complaints, conducts necessary investigation, and takes appropriate decisions when need be, in accordance with applicable laws and regulations; when the review is done, the Capital Markets Authority informs the complainant in writing. The Capital Markets Authority reserves the right to inform the complainant or any other party about the results of its investigations or the decisions that may be taken in this regard if appropriate. In reviewing the complaint, the role of the Capital Markets Authority is limited to checking for and dealing with violations of the laws and regulations falling within its competences. The Capital Markets Authority is not the entity authorized to compensate the complainant for any damage which may be incurred as a result of the violation. Article 5: The Capital Markets Authority reserves the right to take all legal and administrative measures stipulated in Law No. 161 dated 17/8/2011 on the capital markets. However, having filed a complaint at the Capital Markets Authority does not prevent the complainant from taking any legal action that he deems appropriate to protect his rights.

Article 6: This decision shall enter into force upon publication in the official gazette. Beirut, February 22, 2016 Chairman of the CMA/ Governor of Banque du Liban Riad Toufic Salameh (Signature)

Complaint Form If the complainant is a natural person Name: Date of Birth: Number of ID: Nationality: Postal Address: E-mail Address: Phone Number: Mobile Phone Number: Profession: If the complainant is a legal person Name: Number of Registration: Registered Address: Country of Registration: Phone Number: Fax Number: Name and Capacity of the Company Representative: If a lawyer/third person is assigned Name and Capacity: Postal Address: Office Phone Number: Office Fax Number: Mobile Phone Number: E-mail Address: Institution concerned by the complaint Name of the institution concerned by the complaint: Product or service concerned by the complaint: Registered Address: Country of Registration: Phone Number: Fax Number: Name and Capacity of the Representative:

Subject of the Complaint Describe the complaint facts and dates, and specify the violation as well as the violated legal text in your opinion as complainant: Documents to be attached to your complaints

1. Prior letter, fax, or e-mail that you have addressed to the management of the concerned institution.
2. Copy of the answer from the institution (if available), and the indication of the reason why the Institution’s answer is not satisfactory. (Please mention if you did not obtain an answer from the Institution).
3. Copy of a document showing your capacity (Extract of Individual Civil Registry Record, ID card, Passport. A valid copy of an official document showing the capacity of the representative, if the complainant is a legal person).
4. Copy of the power of attorney by the notary to the lawyer or third person. Signature of the Complainant or Representative