26. Supervision of Authorised Market Institutions

Past version: effective from 05/07/2012 - 20/08/2014
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(1) Without limiting the application of the Regulatory Law 2004, the DFSA may, by written notice, direct an Authorised Market Institution to do or not do specified things that the DFSA considers are necessary or desirable or to ensure the integrity of the DIFC financial markets, including but not limited to directions:
(a) requiring compliance with any duty, requirement, prohibition, obligation or responsibility applicable to an Authorised Market Institution;
(b) requiring an Authorised Market Institution to act in a specified manner in relation to a transaction conducted on or through the facilities operated by an Authorised Market Institution, or in relation to a specified class of transactions; or
(c) requiring an Authorised Market Institution to act in a specified manner or to exercise its powers under any rules that the Authorised Market Institution has made.
(2) Without limiting the application of Article 75 of the Regulatory Law 2004, the DFSA may, by written notice, direct an Authorised Market Institution to:
(a) close the market or facilities operated by an Authorised Market Institution in a particular manner or for a specified period;
(b) suspend transactions on the market or through the facilities operated by the Authorised Market Institution;
(c) suspend transactions in Investments conducted on the market or through the facilities operated by the Authorised Market Institution;
(d) prohibit trading in Investments conducted on the market or through the facilities operated by the Authorised Market Institution;
(e) defer for a specified period the completion date of transactions conducted on the market or through the facilities operated by the Authorised Market Institution;
(f) prohibit a specified person from undertaking any transactions on the facilities operated by the Authorised Market Institution; or
(g) do any act or thing, or not do any act or thing, in order to ensure an orderly market, or reduce risk to the DFSA's objectives.
(3) The Regulatory Appeals Committee has jurisdiction to hear and determine any appeal in relation to a decision to issue a direction under Article 26.