Regulatory Alerts2019-12-11
CMSA Enforcement Guidelines
The Capital Markets and Securities Authority (CMSA) has issued these Enforcement Guidelines to standardize the practices and procedures followed by its Directorate of Legal Affairs and Enforcement during market investigations. The document outlines the CMSA’s broad statutory powers to compel document production, conduct interviews under oath, and enforce compliance through court orders, while clarifying rules on confidentiality, legal professional privilege, and self-incrimination. It further details the step-by-step investigation process, including report drafting, management review, and the subsequent pathway to disciplinary charges or fast-track tribunal proceedings.
Share