Regulatory Alerts2014-02-10
Decision No. 13 on Asset Securitization
The Capital Markets Authority, acting through the Governor of Banque du Liban, issued Decision No. 13 to authorize the establishment of securitization funds for tangible or intangible, movable or immovable assets. The decision mandates that such funds secure pre-subscription from ten investors, verify subscriber identities and financial statements with a qualified auditor's report, and clearly define their lawful investment objectives. Furthermore, it exempts intangible asset securitization from these conditions and requires compliance with prior Capital Markets Authority decisions on internal audit and regulatory compliance, taking effect upon publication in the Official Gazette on 20 March 2014.
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