Article 140 Of Chapter 11
Section: Penalties and Disciplinary Actions
One or more disciplinary boards shall be established within the Authority, composed of three members headed by a judge delegated by the Supreme Judiciary Council and two members who are experienced in financial, economic, and legal affairs. The term of membership of the Disciplinary Board shall be three years and may be renewed. The Board shall address the following matters:
1 - Deciding in the disciplinary matters referred to it by the Authority and concerning the violation of the provisions of this Law, Bylaws or any decisions or instructions issued in connection therewith.
2 - Deciding in the appeals filed against the Securities Exchange decisions and the decisions taken by the Violations Committee thereat. The Disciplinary Board, when hearing these appeals shall be deemed to act as an appellate body and its rulings with regard thereto shall be final. The Executive Bylaws shall set forth the system, rules and procedures of the work of the Disciplinary Board and the manner in which it issues resolutions and notify the concerned parties thereof.