Regulatory Alerts2015-01-27
Amendment of Decision 4 dating 14 August 2013
The Capital Markets Authority of Lebanon issued Announcement No. 12 to amend Decision No. 4, updating compliance obligations for specified joint-stock companies operating in organized and over-the-counter capital markets. The amendments redefine eligibility into four revenue- and shareholder-based categories, permit larger companies to outsource compliance functions to qualified external institutions, and mandate specific external auditor appointments. Companies must notify the Capital Markets Authority of their chosen auditors and outsourcing providers, comply with any regulatory objections, and maintain independent compliance departments to ensure adherence to capital markets laws and anti-money laundering regulations.
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