Article 67 Of Chapter 5
Section: Regulated Securities Activities
The Authority may decline or suspend or revoke a license, or restrict the activity of a Person licensed to engage in the management of Securities activities, or any Person related to it, if it were given evidence that he has done one of the following:
1 - Commits a major fault, gives misleading information, or omits to mention a material fact when applying for a license, or omits to mention any other information that should be submitted to the Authority.
2 - Fails to meet the standards applied under this Chapter or any other subsequent system or bylaws issued accordingly.
3 - Violates any provision, rule, regulation, or bylaws issued under this Law, or under any law related to its activity, or a Securities law, or rule or bylaws of another country.
4 - Is negligent in monitoring one of his affiliates (subordinates) by failing to prevent him/her from acting in a way which might be a violation of the provisions of this Law or its Executive Bylaws.
* Article (67) is amended pursuant to Law No. 22 of 2015 Amending Some Provisions of Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority & Regulating Securities Activities.