The Capital Markets (Derivatives Markets) Regulations

58. Revocation of a licence

Edition: 2025-02-14 · In force

(1)The Authority may, by order in writing, revoke the licence of a derivatives broker where it is satisfied that—

(a)the reasons for suspension of a licence under regulation 56 continue during the period of such suspension;

(b)a derivatives broker whose licence has been suspended—

(i)is engaging or has engaged in insider trading, market manipulation or any other unfair practice or market abuse;

(ii)has been found guilty of fraud or convicted of a criminal offence;

(iii)has not complied with a directive of the Authority; or

(c)the membership of that derivatives broker has been cancelled by a derivatives exchange or another securities exchange; or

(d)it is necessary for the protection of investors.

(2)The Authority shall, before issuing an order of revocation under subregulation (1), give a derivatives broker an opportunity to be heard.