Regulatory measures for intermediary default include cancellation, suspension, debarment or censure and restrictions on new assignments. The designated authority, after reviewing record and any reply, may recommend measures including disposal without adverse action; cancellation or suspension of a certificate of registration; prohibition on new assignments or schemes; debarment of officers or branches from market activities; and issuance of regulatory censure, subject to a cap on censures after which harsher actions may be considered. The authority must endeavour to submit its report within the prescribed period after receipt of the noticee's reply or personal hearing. The provision superseded an earlier requirement for written representations and permitted ex parte action where no reply was filed.