CMA signs Memorandum of Understanding (MoU) with the French regulator A.M.F. (Autorité des marchés financiers)

May 14, 2014

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As part of the CMA’s strategy to develop and further protect the investors in Capital Markets, the CMA’s Chairman Mr. Riad Salameh signed in May 2014 an MoU with his French counterpart, Chairman of the “Autorité des marchés financiers – AMF” Mr. Gerard Ramex. The MoU shall facilitate the coordination and technical assistance between the two authorities. Commenting on the MoU, Mr. Salameh said: “CMA is working on establishing a long-term financing market to the private sector in Lebanon, through promoting rigorous regulations, while insisting on more transparency and good governance in financial dealings. Such actions shall prove to be of benefit to the Lebanese economy, especially as it helps shape its reputation as a safe and efficient market”. The MoU will allow both regulators to exchange information on the basis of mutual assistance that would enhance the implementation of their respective mandates, while also addressing issues of technical assistance programs to promote mutual regulatory understanding and knowledge.

Commenting on the MoU, Mr. Sami Saliba, Executive Board Member, revealed that the CMA is preparing to sign similar MoUs with Arab counterparts, as well as European countries, and the United States. “We may also sign MoUs with countries in South America,” Mr. Saliba added. “The signature of all these MoUs is a main target for the CMA, and will help the CMA to join the International Organization of Securities Commissions (IOSCO)”. (IOSCO is an association of organizations that regulates international securities and future markets. It has members from over 100 countries, and regulates more than 90 percent of the world’s securities markets).