Regulatory Alerts2023-01-15
Regulatory Bylaw No. 5: Suspension, Cessation, and Revocation of Financial Intermediation Companies
The Capital Markets Authority issued Regulatory Bylaw No. 5 to establish the legal framework for the suspension, cessation, and revocation of financial intermediation companies. The regulation defines specific procedures for voluntary suspension requests, grounds for trading suspension due to violations, and conditions under which intermediary status is revoked, including insolvency, failure to maintain capital, or managerial misconduct. It further outlines the administrative powers of the Market Director and the Board, including the right to impose fines and the appeal process for affected parties.
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