Article 147 of Capital Markets Authority Law

Any person against whom a sanction stipulated in this Law has been imposed may submit a written grievance against it to the Authority within fifteen days from the date of written notification of the decision. The Authority’s decision rejecting the grievance shall be final and may be challenged before the competent court. Failure to respond to the grievance within one month from the date of its submission shall be deemed a rejection thereof. Fourth: Settlement of Disputes by Arbitration