(a) Interim Enforcement Actions

Interim enforcement actions can be taken based on the information, facts and evidence available to the CMSD and such action can be initiated at the earliest possible time as part of the market surveillance function. Details of such interim enforcement actions are given in chapter MIE-3 of this Module.

(b) Directives Under Article 38

The CBB may issue directives to the licensed exchanges, market operators or licensed clearing houses or depositories, or any member of an SRO or any capital market service provider, or any listed company or any issuer of securities, or any market participant, or any other relevant person as a preventive surveillance measure. Such directives under Article 38 of the CBB Law may be issued where the CBB believes that it is necessary or expedient in the interest of the public investors or securities market, or for the protection of investors, to take such action as it considers necessary, and such preventive surveillance measures can be imposed either market-wide or be made available to individual securities or issuers or an SRO, or any member of an SRO or capital market service provider, or market participants or any relevant persons.

(c) Imposition of Trading Limits, Margins and Trading Restrictions

The CMSD may, as a pro-active surveillance measure in emergency situations, impose limits or restrictions or measures. Such measures may include but not be limited to trading limits, position limits, additional margins, trading restrictions, suspending trading of any securities, freezing of accounts, suspending clearing/settlement of any transaction(s), or offsetting the suspected transactions, or any other prudential limits for the purposes of protecting the interests of investors and the securities market.