Regulatory Alerts2014-04-28
Amendment of Decision 14 on Collective Investment Schemes
The Capital Markets Authority of Lebanon issued Announcement No. 3 to amend Decision 14, establishing comprehensive regulatory requirements for collective investment schemes. The revised decision mandates specific fund bylaw provisions, including a shareholders’ committee with termination powers and a structured mechanism for approving radical amendments through shareholder voting. It further requires issuer-responsible prospectuses, standardized accounting templates, periodic financial reporting, and strict adherence to Capital Markets Authority directives.
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