Regulatory Alerts2021-05-19
Amendment to Market Conduct and Business Conduct Regulations Series 4000 and 3000
The Capital Markets Authority of Lebanon issued Announcement No. 73 to amend its Market Conduct and Business Conduct regulations, mandating clear fee schedule disclosures in client agreements and standardized monthly account notifications. Approved institutions must now notify clients of fee updates via postal or email, granting a two-week objection period before applying revised charges, while simultaneously delivering monthly statements that clients may challenge within the same timeframe. Compliance departments are required to verify accurate client address records, ensure annual portfolio signatures or authorized agent sign-offs, and enforce these protocols upon the announcement's official gazette publication.
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