Article 70 - Right to make written representations
(1) If the
Regulatory Authority proposes to exercise its disciplinary powers under Part 9 in relation to any Person, it must first give that Person:
(A) a written notice specifying the action which the
Regulatory Authority proposes to take; and
(B) an opportunity to make written representations to the
Regulatory Authority in relation to the proposed action to be taken.
Regulatory Authority may specify in any such notice the manner and time within which any such written representations must be made.
(3) The requirement under Article 70(1) shall not apply:
(B) where the
Regulatory Authority concludes that any delay likely to arise as a result of the requirement under Article 70(1) might be prejudicial to the interests of the clients or customers of the relevant Person, the QFC or the Financial System.
|Amended by QFC Reg 2010-2 (as from 9th December 2010)|