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EN-5.2.5

In accordance with Article 125 of the CBB Law, a written notice of a financial penalty must be issued before imposing any financial penalty. The written notice must contain the following information:

(a) The violations committed by the licensee or persons referred to in paragraph (b) of Article (68 bis 1) of the CBB Law with respect to the CBB Law; the CBB Rulebook; any Directions, Warnings of Formal Requests for Information; or violations of the terms and conditions of the license issued to the licensee;
(b) Evidence of proof to support the above;
(c) The level of financial penalty to be imposed; and
(d) The grace period to be allowed to the licensee or persons referred to in paragraph (b) of Article (68 bis 1) of the CBB Law for challenging the intended penalty (which will not be less than 30 calendar days).
Amended: April 2016
Adopted: January 2007
 Versions
(2 Versions)
 
Jul 1 2007 - Mar 31 2016Apr 1 2016 onwards
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