Regulatory Alerts2023-02-15
Notice No. 90 on Amending the Business Conduct Regulation Series 3000 Regarding Unspecified Perpetual Preferred Shares
Issued by the Capital Markets Authority and the Central Bank of Lebanon, this notice mandates Lebanese licensed institutions to immediately halt pricing unspecified Perpetual preferred shares in customer statements and replace their market value with "Not Available" until further notice. The directive, grounded in the current exceptional economic circumstances and Law No. 161, also requires institutions to cease collecting deposit fees for these shares while preserving the banking system's integrity. It takes effect upon publication in the Official Gazette and operates under Clause 4 of Article 3311 of the Business Conduct Regulation Series 3000.
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