S.L. 583.6 Art. 6Compliance review.

(1) The Authority may, where it deems necessary, initiate a review of all or part of the conduct and, or operations of an authorised person.

(2) If, in conducting such review, the Authority discovers conduct and, or operations which are not, or may not be, in accordance with the applicable regulatory instruments, it shall notify the authorised person of this fact, giving such authorised person a reasonable time to make any relevant submissions:

Provided that if the authorised person fails to make submissions within the allocated time, the Authority shall reach a decision based on the information available to it:

Provided further that in conducting such review, the Authority may also request any information from third parties that directly or indirectly provide one or more services to, or obtain one or more services from, the authorised person that it deems relevant, without requiring the consent of the authorised person and with or without informing the authorised person.

(3) If the authorised person fails to make submissions or, in its submissions, does not address any concerns which the Authority may have, the Authority may initiate a formal investigation and, or take such other measures, including enforcement measures, as it may deem appropriate. Part IV

Formal Investigation