Capital Markets Authority September 20, 2013. Turkish - Arab Capital Markets Forum . The law No.161 establishing the Capital Markets Authority was Promulgated in August 2011. Under this Law, The Capital Markets Authority shall consist of: - The Board - The Secretariat
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Capital Markets Forum
The law No.161 establishing the Capital Markets Authority was Promulgated in August 2011.
- The Board
- The Secretariat
- The Market Control Unit
- The Sanction CommitteeThe Structure of CMA
The CMA ensures the protection of savings invested in Financial Instruments, encourages the capital markets in Lebanon, and coordinates between the various concerned sectors. For this purpose, the Markets Authority shall perform all functions and activities entrusted to it, including but not limited to:
Organizing the disclosure of information to persons who distribute Financial Instruments to the public.
Setting the general regulatory framework for listing Financial Instruments and approving their trading on stock markets.
Sanctioning administrative violations of this Law and its implementation rules.
The Board is appointed by decree taken in the Council of Ministers upon proposal of the Minister of Finance since July, 2012 for a five-year term renewable once.
The management of the Markets Authority is entrusted to a Board formed of seven members:
II- Setting Capital Markets General Regulations.
III- Authorization, approval and ratification.
The Board shall issue opinions on the draft of laws and decrees that relate to the operation and
development of capital markets.Powers of the Board
The Board shall receive the complaints, requests and objections about all matters falling within its competence and shall seek to settle them. If the Board deems it necessary, it shall refer the claims to the Capital Markets Control Unit or to the competent disciplinary or juridical authorities.Powers of the Board
The regulatory decisions of the Board shall be contested before the Council of State, whereas the individual decisions may be contested before the Capital Markets Court established by virtue of the before said Law.
Powers of the Board
The Sanction Committee
A court for the capital markets shall be established and shall be known as the Capital Markets Court, having its headquarters at the Hall of Justice in Beirut. It shall consist of:
The Capital Markets Court
Acting as Court of Appeal, all the decisions taken by the Sanction Committee.