SROs are required to establish a Disciplinary Committee for the purpose of deciding violations by the members or listed companies, or issuers of SRO's business rules. A Disciplinary Committee shall decide on cases relating to any violation of laws, rules and regulations which regulate the licensed exchanges. Enforcement measures that can be imposed on members of SROs and listed companies/issuers through the Disciplinary Committee of licensed exchanges may include:
i. Warning;
ii. Confiscation of all or part of the member's deposits with the licensed exchange;
iii. Suspension of trading or clearing rights;
iv. Suspension of membership rights;
v. Cancellation of membership;
vi. Financial penalties, fines and charges.
The CMSD may advise licensed exchanges, licensed clearing houses and central depositories within their scope of their respective powers, to take appropriate enforcement actions. These actions can be in addition to other enforcement actions which are taken by the CBB itself.
