Article 84 - Contravention of Relevant Requirements

(1) For the purposes of these Regulations a Person contravenes a Relevant Requirement if he:
(A) fails to comply with any prohibition or requirement imposed on him by the Regulatory Authority or any undertaking given by him to the Regulatory Authority;
(B) does anything that is prohibited under, or that Contravenes any provision of, any Law, Regulations or Rules;
(C) does not do something that the Person is required to do under any Law, Regulations or Rules;
(D) commits an act of fraud or abuses any fiduciary duty which he owes to his clients or customers; or
(E) otherwise commits any contravention described as such in these Regulations.
(2) Without prejudice to the generality of Article 84(1), for the purposes of these Regulations a Person contravenes a Relevant Requirement if he:
(A) knowingly or recklessly provides to the Regulatory Authority any information which is false, misleading or deceptive, or conceals information where the concealment of such information is likely to mislead or deceive the Regulatory Authority;
(B) conducts Regulated Activities in or from the QFC in breach of Article 11.2 of the QFC Law;
(C) knows or suspects that Regulatory Authority action under Parts 5-10 of these Regulations is being or is likely to be conducted and:
(i) falsifies, conceals, destroys or otherwise disposes of a document which he knows or suspects is or would be relevant to such action, or
(ii) causes or permits the falsification, concealment, destruction or disposal of such a document,
unless he shows that he had no intention of concealing facts disclosed by the documents from the Regulatory Authority or any Nominated Person preparing a report or Investigator undertaking an investigation under Part 8 (Supervision and Investigations) of these Regulations.
Amended by QFC Reg 2010-2 (as from 9th December 2010)