المادة 104: Power of the Authority to Suspend a Distributor

Article 104: Power of the Authority to Suspend a Distributor

The Authority shall have the power to suspend a distributor in relation to a particular foreign fund or to take any other measures it deems necessary in the event of:

1) the distributor ceasing to carry out activities of dealing or the activity of managing investments and operating funds or the activity of managing investments without notification to the Authority under the Capital Market Institutions Regulations;

2) the cancellation or suspension by the Authority of the distributor’s relevant authorisation(s);

3) a request by the distributor to the Authority to cancel its relevant authorisation;

4) the Authority considering it necessary for the protection of securities holders or maintenance of an orderly market;

5) the Authority believing that the distributor has failed, in a manner which the Authority considers material, to comply with the Capital Market Law and its Implementing Regulations; or

6) any other event determined by the Authority on reasonable grounds to be of sufficient significance.