Disciplinary authority: board-directed enforcement obliges local boards to implement non-monetary penalties and limits unilateral modification. The regulation authorises the Board to direct the Self Regulatory Organization's Board of Directors to impose non-monetary disciplinary measures such as expulsion or suspension after an enquiry report; the local board must implement those directions and may not commute, revoke or modify them without the Board's prior written approval. The Board may itself modify or withdraw any direction on its own motion or on representation by the member if satisfied there are sufficient grounds.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Disciplinary authority: board-directed enforcement obliges local boards to implement non-monetary penalties and limits unilateral modification.
The regulation authorises the Board to direct the Self Regulatory Organization's Board of Directors to impose non-monetary disciplinary measures such as expulsion or suspension after an enquiry report; the local board must implement those directions and may not commute, revoke or modify them without the Board's prior written approval. The Board may itself modify or withdraw any direction on its own motion or on representation by the member if satisfied there are sufficient grounds.
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