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MIE-4.1.8

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 or listed company 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; and
(d) The grace period to be allowed to the licensee or listed company for challenging the intended penalty (which will not be less than 30 days).
Added: July 2021