Regulatory Alerts2018-03-12
Amendment to the Business Conduct Regulation Series 3000 and Cancellation of Prior Decisions on Custody, Derivatives, Complaints, and Auditors
The Capital Markets Authority of Lebanon issued Announcement No. 24 to amend its Business Conduct Regulation Series 3000 and cancel five prior decisions governing custody, derivatives, complaints, and auditors. The updated framework mandates strict client account segregation, explicit written consent for pooled assets, monthly custodian reconciliations, and standardized margin calculations for financial derivatives. It also establishes clear procedures for filing client complaints, requires recorded telephone communications, and integrates auditor oversight provisions to enhance regulatory compliance for approved financial institutions.
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