• 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 final investigation report, the CMSD 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 the CMSD, interim findings of the investigation initiated by the CMSD, 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 2021

    • MIE-3.2.4

      In cases where the CMSD takes interim measures, usually the CMSD will provide a post-decisional opportunity of a hearing to the persons affected by such interim actions within a reasonable period of time, as expeditiously as possible. The CMSD may, after taking into account the submissions made by the persons concerned both during the hearing and in writing, modify or reconfirm or cancel or reverse the enforcement action, as may be deemed fit by the CBB Enforcement Decision Review Committee (EDRC).

      Amended: July 2021

    • MIE-3.2.5

      Interim enforcement actions shall be decided by the CMSD, based on the available information, facts and evidence, including the preliminary investigation report or interim investigation report, or any other information, data, report, facts or evidence available to the CMSD. Interim enforcement actions can also be decided by the Enforcement Decisions Review Committee on a reference made to it by the CMSD.

      Amended: July 2021

    • MIE-3.2.6

      Interim enforcement actions shall be applicable without prejudice to any further investigation and enforcement actions that may be decided by the CMSD or the Enforcement Decisions Review Committee.

      Amended: July 2021

    • Procedure

      • 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 the CMSD conducting the examination or investigation, or the appointed investigator that an interim enforcement action is warranted, he shall submit the facts and evidence of the case to the CMSD, along with the proposal for interim enforcement action.

        Amended: July 2021

      • MIE-3.2.9

        If the CMSD, during the course of its normal supervisory functions, finds that interim enforcement action is warranted, the CMSD 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, including capital market service providers, investors or any other relevant parties.

        Amended: July 2021

      • MIE-3.2.11

        [This Paragraph has been deleted in July 2021].

        Deleted: July 2021

      • MIE-3.2.12

        [This Paragraph has been deleted in July 2021].

        Deleted: July 2021

      • MIE-3.2.13

        [This Paragraph has been deleted in July 2021]

        Deleted: July 2021

      • MIE-3.2.14

        [This Paragraph has been deleted in July 2021].

        Deleted: July 2021

      • MIE-3.2.15

        [This Paragraph has been deleted in July 2021].

        Deleted: July 2021

      • MIE-3.2.16

        [This Paragraph has been deleted in July 2021].

        Deleted: July 2021

      • MIE-3.2.17

        Interim enforcement actions shall be applicable without prejudice to any further enforcement actions that may be decided by the CMSD or EDRC, and to any further investigation and enforcement proceedings and actions.

        Amended: July 2021