EN-6.1.7
Past version: Effective from 01 Oct 2007 to 30 Sep 2010
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A written notice of a financial penalty must be issued before imposing any financial penalty. The written notice must contain the following information:
(a) the violations committed by the Licensee with respect to CBB Law; or the prudential Rulebook; or any Directions, Warnings or Formal Requests for Information; or violations of the terms and conditions of the License issued to the Licensee;
(b) evidence or proof to support the above;
(c) the level of financial penalty to be imposed;
(d) the grace period to be allowed to the Licensee for challenging the intended penalty (which will not be less than 30 days).
Added: October 2007