Regulatory Alerts2019-08-23
Amendment to the Capital Markets Licensing and Registration Regulation Series 2000
The Capital Markets Authority of Lebanon amends Article 2205 of its Licensing and Registration Regulation Series 2000 to mandate Financial Institution Professional Indemnity insurance for license applicants. The amendment establishes a minimum coverage of two billion Lebanese Pounds or the required capital, whichever is higher, while exempting institutions with capital exceeding five billion Lebanese Pounds. It further recommends administrative liability insurance for managers and staff, taking effect upon publication in the Official Gazette.
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