GENE 4.1.7 Notice of certain insolvency-related events

(1) If an authorised firm becomes aware of an event to which this rule applies, the firm must tell the Regulatory Authority about the event immediately, but within 1 business day.
Examples

See examples to rule 4.1.3(1) on the meaning of "within 1 business day".
(2) This rule applies to the following events:
(A) the calling of a meeting to consider a resolution for winding up the authorised firm;
(B) an application to dissolve the authorised firm or to strike it from the register, maintained by the CRO, or a comparable register in another jurisdiction;
(C) the presentation of a petition for the winding up of the authorised firm;
(D) the making of, or any proposals for the making of, a composition or arrangement with creditors of the authorised firm;
(E) the application of any person for the commencement of any insolvency proceedings, appointment of any receiver, administrator or provisional liquidator under the law of any country.
Editorial changes (as from 1st January 2016).