MIE-3.2 MIE-3.2 Interim Measures and Actions
MIE-3.2.1
In order to pursue the CBB's objectives and perform the duties specified by Articles 3 and 4 of the Law, the CBB needs to initiate appropriate enforcement measures swiftly before further damage is done and take remedial actions as early as possible, in order to protect the interest of the investors and the capital market.
MIE-3.2.2
The CBB's enforcement measures are intended to achieve compliance and therefore may, in certain cases, have to be applied in a timely and prompt manner without waiting for the
investigation to be completed. In such cases, pending the receipt of a finalinvestigation report, theCMSD will resort to interim enforcement actions in order to restrain future violation and also act as a remedial, so that the past unlawful conduct may be reversed at the earliest.MIE-3.2.3
Interim enforcement actions may be taken, based on the information/documents/reports available with the
CMSD , analysis and findings of theCMSD , interim findings of theinvestigation initiated by theCMSD , and reports from licensed exchanges and the Clearing, Settlement and Central Depository System and the clearing house, or any other appropriate source of documents or information or reports.Amended: July 2021MIE-3.2.4
In cases where the
CMSD takes interim measures, usually theCMSD will provide a post-decisional opportunity of a hearing to thepersons affected by such interim actions within a reasonable period of time, as expeditiously as possible. TheCMSD may, after taking into account the submissions made by thepersons concerned both during the hearing and in writing, modify or reconfirm or cancel or reverse the enforcement action, as may be deemed fit by theCBB Enforcement Decision Review Committee (EDRC).Amended: July 2021MIE-3.2.5
Interim enforcement actions shall be decided by the
CMSD , based on the available information, facts and evidence, including the preliminaryinvestigation report or interiminvestigation report, or any other information, data, report, facts or evidence available to theCMSD . Interim enforcement actions can also be decided by theEnforcement Decisions Review Committee on a reference made to it by theCMSD .Amended: July 2021MIE-3.2.6
Interim enforcement actions shall be applicable without prejudice to any further
investigation and enforcement actions that may be decided by theCMSD or theEnforcement Decisions Review Committee .Amended: July 2021Procedure
MIE-3.2.7
Based on the facts and evidence available, the
CMSD may at its discretion, decide on an interim enforcement action.MIE-3.2.8
In the course of the CMSD’s case examination or during the course of carrying out an
investigation , if it appears to the official of theCMSD conducting the examination orinvestigation , or the appointedinvestigator that an interim enforcement action is warranted, he shall submit the facts and evidence of the case to theCMSD , along with the proposal for interim enforcement action.Amended: July 2021MIE-3.2.9
If the
CMSD , during the course of its normal supervisory functions, finds that interim enforcement action is warranted, theCMSD shall evaluate the information, documents, data and evidence available, and initiate interim enforcement action, as may be deemed fit.MIE-3.2.10
The
CMSD shall issue the order to all the parties against whom interim enforcement action is taken and other relevant parties involved in the implementation of the order, includingcapital market service providers , investors or any other relevant parties.Amended: July 2021MIE-3.2.11
[This Paragraph has been deleted in July 2021].
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[This Paragraph has been deleted in July 2021].
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[This Paragraph has been deleted in July 2021].
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[This Paragraph has been deleted in July 2021].
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[This Paragraph has been deleted in July 2021].
Deleted: July 2021MIE-3.2.17
Interim enforcement actions shall be applicable without prejudice to any further enforcement actions that may be decided by the
CMSD orEDRC , and to any furtherinvestigation and enforcement proceedings and actions.Amended: July 2021