Update of CMA Fees and Commissions and Cancellation of Announcement No. 95 (23 May 2023)

Capital Markets Authority CAPITAL MARKETS AUTHORITY

Announcement No. 97 Related to the cancellation of Announcement No. 95 dated 23 May 2023 Regarding the expenses and commissions and their collection mechanism And its replacement by the present announcement

Pursuant to Law No. 161 dated 17/8/2011 regarding the Capital Markets,

We hereby inform you of the following: First: Announcement No. 95 dated 23 May 2023 is cancelled and replaced by the present announcement. Second: This announcement takes effect upon its publication in the Official Gazette.

Beirut, on 31 January 2024 Acting Chairman of the Capital Markets Authority / Acting Governor of the Central Bank of Lebanon (Signature) Dr. Wissam Mansouri

Rome Street, Wardieh Hamra - P.O.Box 5358, Beirut, Lebanon - T +961 1 987 250 info@cma.gov.lb www.cma.gov.lb

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Annex No. 1

Application No.	Type of Transaction or Application	Applicant (A) Banks	Applicant (B) Financial Institutions	Applicant (C) Financial Brokerage Firms	Applicant (D) Other Licensed Institutions
1	Application for establishing an institution to conduct activities related to financial instruments			500,000,000 LBP
2	Application for a license for one of the activities related to financial instruments	1,000,000,000 LBP	1,000,000,000 LBP	1,000,000,000 LBP	1,000,000,000 LBP
3	Annual fee to maintain the license (per activity)¹	300,000,000 LBP	300,000,000 LBP	300,000,000 LBP	300,000,000 LBP
4	Annual fee to maintain the registration of persons (per person)²	250,000,000 LBP	250,000,000 LBP	250,000,000 LBP	250,000,000 LBP
5	Application for full cancellation of a licensed institution's license	800,000,000 LBP	800,000,000 LBP	800,000,000 LBP	800,000,000 LBP
6	Application for partial cancellation of a licensed institution's license (per activity)	300,000,000 LBP	300,000,000 LBP	300,000,000 LBP	300,000,000 LBP
7	Temporary suspension of an institution from operations	600,000,000 LBP	600,000,000 LBP	600,000,000 LBP	600,000,000 LBP
8	Amendment or replacement of the Articles of Association/Memorandum			100,000,000 LBP
9	Application for registration of a regulated person / transfer of registration / application for review / application to change the status of a registered person	100,000,000 LBP	100,000,000 LBP	100,000,000 LBP	100,000,000 LBP
10	Capital increase/Reorganization process	200,000,000 LBP	200,000,000 LBP	200,000,000 LBP	200,000,000 LBP
11	Disbursement of shares and/or units and/or subscription rights and/or advances	150,000,000 LBP	150,000,000 LBP	150,000,000 LBP	150,000,000 LBP
12	Change of the external supervisory auditor	650,000,000 LBP	650,000,000 LBP	650,000,000 LBP	650,000,000 LBP
13	Delegation of tasks to external entities	100,000,000 LBP	100,000,000 LBP	100,000,000 LBP	100,000,000 LBP
14	Licensing and notification of financial instruments including Lebanese or foreign financial instruments and Islamic bonds: establishment/marketing/promotion	1,000,000,000 LBP	1,000,000,000 LBP	1,000,000,000 LBP	1,000,000,000 LBP
15	Licensing and/or notification of establishment and marketing/promotion of Lebanese/foreign collective investment schemes	1,000,000,000 LBP	1,000,000,000 LBP	1,000,000,000 LBP	1,000,000,000 LBP
16	Amendment of characteristics of a fund/collective investment scheme	150,000,000 LBP	150,000,000 LBP	150,000,000 LBP	150,000,000 LBP
17	Licensing for the establishment of Lebanese institutions to manage collective investment schemes	1,000,000,000 LBP	1,000,000,000 LBP	1,000,000,000 LBP	1,000,000,000 LBP

¹ Payable in the first quarter of each year. ² Payable in the first quarter of each year.

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18	Collective investment schemes: Licensing to manage mutual funds or participate in managing joint stock investment companies	1,000,000,000 LBP	1,000,000,000 LBP	1,000,000,000 LBP	1,000,000,000 LBP
19	Securitization operations: Licensing for the establishment of Lebanese securitization entities / marketing of foreign securitization entity shares	2,000,000,000 LBP	2,000,000,000 LBP	2,000,000,000 LBP	2,000,000,000 LBP
20	Amendment of the regulations of Lebanese securitization entities	150,000,000 LBP	150,000,000 LBP	150,000,000 LBP	150,000,000 LBP
21	Clarification request	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP
22	Extension request	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP
23	Approval and endorsement (consolidation)	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP
24	Certificates and other miscellaneous requests	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP
25	Opening or transfer of a branch	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP
26	Liquidation of funds / Suspension from marketing financial instruments	100,000,000 LBP	100,000,000 LBP	100,000,000 LBP	100,000,000 LBP
27	Merger/acquisition request for companies	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP
28	Change of company/branch location	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP
29	Change of fund supervisory auditor	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP
30	Change of company name	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP	50,000,000 LBP
31	Penalty for delay in complying with deadlines stipulated by Law No. 161 and CMA regulations	150,000,000 LBP	150,000,000 LBP	150,000,000 LBP	150,000,000 LBP

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Annex No. 2

Commission Collection Procedures

1. The requesting entity intending to submit a transaction or application subject to a commission to the Authority must prepay the appropriate financial fee based on Annex No. (1) attached herewith.
2. The fees and commissions specified in Annex No. (1) attached to this announcement, pertaining to each transaction or application, shall be paid by transferring the required amount from a bank account belonging to the requesting entity to a bank account belonging to the Capital Markets Authority, designated for this purpose at the Central Bank of Lebanon, bearing the following IBAN: LB36 0999 0000 0001 0016 5001 1125 (stated consecutively without spaces when used electronically)
3. The transfer is executed through the BDL-RTGS payment system in accordance with the mechanism adopted by said system, and the SWIFT message (MT202) is structured so that fields 20 and 72 display the necessary information as follows:

20: InstitutionNumber – Code of Request 72: /REC/TRNSF/T72/Name of requesting Institution – number of requesting Institution – Code of Request (Institution Category A,B,C,D plus operation type 1,2,3...) – Amount – Date of Payment

For example: To pay the commission due for a licensing and/or notification application for the establishment and marketing/promotion of Lebanese/foreign collective investment schemes from a financial brokerage institution, code C15:

20: 020 – C15 72: /REC/TRNSF/T72/ABCDE – 020 – C15– 1,000,000,000 – 3/01/2024

4. The requesting entity, when submitting a transaction or application to the Capital Markets Authority, must attach a bank notification proving the completion of the required transfer (a copy of the MT 298 message), containing the information detailed in Item 3 above.