Firas Safieddine, Executive Board Member, delivers the Opening Remarks at the Second Consultation Seminar held by the CMA
Mr. Firas Safieddine, Executive Board Member at the CMA, explains the importance of consultation seminars in the presence of local and international drafting teams before their issuance to the market, highlighting the vision of the CMA to nurture and develop a culture of transparency in the regulatory framework which reflects on the market conduct of licensed persons in the market; an objective which falls within the international standards set by the international regulatory body for securities commissions – IOSCO.
Gabriel Sensenbrenner, World Bank Project Leader sends a strong message of cooperation between the Bank and the CMA
In his remarks, Mr. Sensenbrenner reiterated the support of the World Bank to the work conducted with the CMA, especially in the field of protecting the investor and developing the capital markets. Mr. Sensenbrenner delivered to the audience an update on the status of cooperation with the Bank, pointing out that the focus would be more towards ‘Market Development’ in the final stages of cooperation.
In this respect, Mr. Sensenbrenner emphasized how consultation seminars help in addressing the peculiar nature of every market by further allowing the regulator to understand the culture and practices which help in overcoming market challenges and risks.
Listing Rules Regulation
Listing Rules regulation aims to ensure that issuers and securities to be listed are suitable for listing. This regulation also allows for investors, regulators and the public to have sufficient information to make an informed assessment of the issues and the securities while ensuring that listed issuers maintain sound standards of disclosure following listing and meet the requirements for continued listing. An important feature of Listing Rules regulations is that issuers are required to maintain sound standards of corporate governance whereby ensuring that holders of listed securities are treated fairly and equally.
Offers of Securities Regulation
Offers of Securities regulation aims to enable a licensed entity to carry on a public offer in Lebanon. By issuing this regulation, the CMA sets firm standards and requirements that aim to facilitate the procedure of issuing securities, inviting the investors to subscribe for securities, making a securities advertisement for a new issue of securities, or making any statement, announcement or communication that involves selling or marketing securities in Lebanon.