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  • The CBB's Enforcement Responsibilities

    • MIE-A.1.2

      The CBB's key enforcement-related aims are to protect investors and maintain market integrity and confidence. The CBB's regulatory framework needs to address stray cases of non-compliance to ensure that such contraventions of relevant laws, rules and regulations:

      •  do not cause potential loss to the investing public;
      •  do not disrupt the financial sector in general and the capital market in particular;
      •  do not adversely impact the Kingdom's credibility as an international financial centre;
      •  do not encourage non-compliance or contravention of rules; and
      •  do not unfairly disadvantage the market participants who comply with all laws, rules and regulations.

    • MIE-A.1.3

      The Market Surveillance, Investigation and Enforcement Module (MIE Module) sets out the CBB's regulatory framework governing the mechanisms and proceedings relating to detection and investigation of breaches of laws, rules and regulations and the appropriate enforcement actions. The process of enforcing the laws and regulations generally involves three main steps:

      •  Market Surveillance: identifying that a potential breach of the relevant laws or regulations has taken place and identification of those responsible for the potential breach;
      •  Investigation: once there is a suspected case of a breach of relevant laws or standards, the CBB may conduct investigations or enquiries to find out what has happened, and whether there is any evidence of a breach; and
      •  Enforcement: taking necessary steps to protect the public interest and if appropriate, to punish those responsible for the breach.