Inspection procedure for stock brokers: notice required unless public-interest exception; inspecting authority empowered, obligations follow. The Board ordinarily must give reasonable notice to a stock broker before an inspection, but may by written order waive notice if it considers waiver necessary in the interest of investors or public interest. Once empowered, the inspecting authority shall undertake the inspection and the stock broker is bound to discharge obligations and cooperate as prescribed by the related procedural provisions.
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.
The Board ordinarily must give reasonable notice to a stock broker before an inspection, but may by written order waive notice if it considers waiver necessary in the interest of investors or public interest. Once empowered, the inspecting authority shall undertake the inspection and the stock broker is bound to discharge obligations and cooperate as prescribed by the related procedural provisions.
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