Settlement notice: allows a noticee an opportunity to apply for settlement, but the board may modify charges. A settlement notice may be issued setting out probable charges and enforcement actions to allow a noticee to apply for settlement within a limited period; it is generally issued before a show-cause notice. The Board may modify enforcement actions or charges regardless of the settlement notice, and the noticee gains no right to settlement based on the noticeed charges. Failure to apply for settlement or withdrawal before the Panel decision allows initiation of proceedings, and settlement may thereafter be sought only in respect of matters pending before a court or tribunal after conclusion of adjudicatory proceedings.