Regulatory Alerts2019-05-21
Amendment to the Capital Markets Licensing and Registration Regulations Series 2000
The Capital Markets Authority of Lebanon, through Announcement No. 56, amends Paragraph (2) of Article 2409 of its Licensing and Registration Regulations Series 2000 to update professional experience exemptions. The revised criteria exempt individuals with at least fifteen years of financial and banking sector experience, including five years in securities, from required exams, while those with ten to fifteen years must additionally complete all exam-related seminars. These updated exemption thresholds apply to experience accrued up to December 14, 2017, and the announcement takes effect immediately upon its publication in the Official Gazette.
Announcement No. 56 On the amendment of the Capital Markets Licensing and Registration Regulations Series 2000 Pursuant to Law No. 161 dated 17/08/2011 on Capital Markets, Pursuant to the decision of the Board of the Capital Markets Authority No. 18/8/19 adopted in its meeting held on 14/05/2019, We advise you of the following: First: Paragraph (2) of Article 2409 of the Licensing and Registration Regulations relating to exemptions shall be amended to read as follows: “(2) Persons with minimum 15 years’ experience in the financial and banking sector up to 14/12/2017, out of which a minimum of 5 years’ experience in the sector related to securities business. Persons with 10 to 15 years’ experience in the financial and banking sector up to 14/12/2017, out of which a minimum of 5 years’ experience in the sector related to securities business, shall be exempted from the required exams provided they attend all exams-related seminars. Second: This announcement shall enter in force upon its publication in the Official Gazette.
Beirut, May 21, 2019 Chairman of the Capital Markets Authority/ Governor of the Central Bank of Lebanon Riad Toufic Salame