To:  Associate Members/ Full Members/ Local Members

No. 02/00

 

Disciplinary action imposed by the Business Conduct Committee

Members are advised, pursuant to Article 38.13, of Disciplinary Action taken by the Business Conduct Committee (the BCC):

MEMBER 1

It was identified that an Associate Member had failed to comply with:

Article 4.6(4)(c)(i)

[Associate Members to lodge financial returns within one calendar month of the last trading date of each preceding month]

The Member lodged the September Quarterly Return on 2 November 1999, which was after the due date for lodgement. The Member did not request an extension of time to lodge the Return.

The Committee noted that this incident was a repeat offence. On this basis, in accordance with Article 38.9.1(d), the BCC imposed a Reprimand upon the Member for the identified breach.

MEMBER 2

It was identified that an Associate Member had failed to comply with:

Article 4.6(4)(c)(i)

[Associate Members to lodge financial returns within one calendar month of the last trading date of each preceding month]

The Member lodged the September Quarterly Return on 1 November 1999, which was after the due date for lodgement. The Member did not request an extension of time to lodge the Return.

The Committee noted that this incident was a repeat offence. On this basis, in accordance with Article 38.9.1(d), the BCC imposed a Reprimand upon the Member for the identified breach.

Deborah Horne
GM; Compliance & Surveillance
05/01/2000