EN-5.1.1

Past version: Effective from 01 Jul 2007 to 30 Sep 2012
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Article 129 of the CBB Law, provides the CBB the power to impose financial penalties on licensees. Their use is generally limited to situations where major breaches of regulatory requirements have taken place and a licensee has failed to respond in an acceptable manner to the concerns expressed by the CBB. Financial penalties are thus normally preceded by the issuance of a written formal warning and/or Direction.

Adopted: January 2007