Article 67 of Capital Markets Authority Law

The Authority may refuse, suspend or revoke a licence, or restrict the activity of any person licensed to engage in the management of securities activities, or any related person affiliated with him, if it establishes that he has committed any of the following:- 1 - Committing a gross error, giving misleading statements, omitting to mention a material fact when submitting his licence application, or omitting to mention any other information required to be submitted to the Authority. - 2 Failing to meet the standards applicable under the provisions of this Chapter or any system or Law Index 1357 Home Page Capital Markets Authority Law Law No. 7 of 2010 concerning the Establishment of the Capital Markets Authority and the Regulation of Securities Activities regulation issued pursuant thereto. 3 - Contravening any provision, rule, system or regulation issued under this Law, or any other law relating to his activity, or a securities law, rule or regulation of another state. 4 - Negligence in supervising any of his subordinates by preventing him from anything that would contravene the provisions of this Law or its Executive Regulations. Chapter Six Auditing the Accounts of Licensed Persons