Regulatory Alerts2013-12-03
Decision Number 7 on Licensing Documents, Annual Statements and Provisions for Financial Intermediation Institutions
The Capital Markets Authority of Lebanon issues Decision Number 7 to standardize licensing requirements, annual reporting obligations, and operational rules for domestic and foreign financial intermediation institutions. The regulation mandates detailed submission of founder credentials, feasibility studies, and certified articles for new licenses, while requiring institutions to file audited annual reports and financial statements on CD by September 30 each year. Institutions must complete establishment formalities within six months of license issuance, comply with anti-money laundering statutes, publicly display their listing status, and face administrative sanctions for non-compliance.
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