• MIE-3.3 MIE-3.3 Final Enforcement Actions

    • MIE-3.3.1

      When there is clear-cut evidence to confirm contraventions of the CBB Law, CBB Rulebook or other related laws, rules and regulations, the CBB may implement one or more appropriate enforcement measures.

    • MIE-3.3.2

      The CBB may implement one or more appropriate enforcement measures, where the CBB has evidence in the form of findings of the CMSD investigation done by the investigators appointed by the CBB under Articles 121 or 115 of the CBB Law, along with the information, documents, statements of explanation and other evidence obtained during investigation and also in the form of findings of the CMSD and when there is clear-cut evidence available, even without a formal investigation.

      Amended: July 2021

    • MIE-3.3.3

      If considered appropriate, the CBB may also rely on the documents and information obtained through other means such as information, reports, documents, statements of explanation obtained from the SROs, members of SROs, listed companies, issuers of securities, any other capital market service providers and other third parties, as per Articles 111, 112 and 113 of the CBB Law, inspection conducted under Article 114 of the CBB Law, and references received from other regulatory authorities with complete evidence etc., to initiate final enforcement actions.

      Amended: July 2021

    • MIE-3.3.4

      However, the CBB will usually apply a final enforcement action only after the concerned person has been given notice of the charges of contravention and an opportunity to make his submissions in writing and/or during a personal hearing.