On Amending the Business Conduct Regulation Series 3000

Notification No. 91
Regarding the Amendment of the Business Conduct Regulation Series 3000

Based on Law No. 161 dated August 17, 2011, concerning the Capital Markets, and based on Capital Markets Authority (CMA) Board Decision No. 23/1/6, adopted in its meeting held on January 24, 2023, and based on CMA Board Decision No. 23/2/20, adopted in its meeting held on February 28, 2023, we hereby notify you as follows:

First:
Item 5 of Article 3321 (Customer Complaints) of the Business Conduct Regulation Series 3000 is amended to read as follows:
The Authority retains the right to take all legal and administrative measures stipulated in Law No. 161 dated August 17, 2011, concerning the Capital Markets. The submission of a complaint to it shall not prevent the complainant from taking the legal actions he deems appropriate to protect his rights. Accordingly, it remains for any client who wishes to file a complaint against any licensed institution to directly refer to the competent judicial courts to take appropriate legal actions.

Second:
A final paragraph is added to Appendix No. 9 (Complaint Submission Form) attached to the Business Conduct Regulation Series 3000, as follows:
The Authority retains the right to take all legal and administrative measures stipulated in Law No. 161 dated August 17, 2011, concerning the Capital Markets. The submission of a complaint to it shall not prevent the complainant from taking the legal actions he deems appropriate to protect his rights. In light of the non-establishment of a penalty committee and the non-creation of a specialized financial court under Law No. 161/2011, it remains for any client who wishes to file a complaint against any licensed institution to directly refer to the competent judicial courts to take appropriate legal actions.

Third:
This Notification shall take effect immediately upon its publication in the Official Gazette.

Beirut, March 8, 2023
Chairman of the Capital Markets Authority / Governor of the Central Bank of Lebanon Riad Toufic Salamé