The management of the Exchange shall inform the Authority of any disciplinary action taken against any of its Members, the details of the Violation that is committed, and the procedures taken and the penalty imposed. The Authority shall be provided with all documents related to the subject within three Business Days.The Authority may, by virtue of a decision it issues or based on a grievance filed by a complainant within fifteen days of his receipt in writing of the notification of the decision, refer the subject to the Disciplinary Board to review the disciplinary action in accordance with its accredited review system. The Disciplinary Board may uphold the Exchange’s decision, or amend, or cancel the same by a reasoned decision.