3.8 Enquiries

3.8.1           The Compliance Officer may carry out routine enquiries or authorize some other person or persons to do so with him or on his behalf. Members (and other persons subject to the Rules) shall co-operate fully with all routine enquiries.


3.8.2           During such routine enquiry, where the Compliance Officer forms the provisional conclusion that there has been a breach of the Rules (or any arrangement, procedure or direction made, authorized or given thereunder), he may deal with the matter himself.  In such cases, the Compliance Officer shall (i) furnish to the Chairman of the Compliance Committee without delay a report in writing of any action taken or (ii) report his provisional conclusion to the Chairman of the Compliance Committee who shall issue to him such directions as may be appropriate. Unless otherwise directed, the Compliance Officer shall forthwith inform the Member concerned or other person the subject of the enquiry, of his provisional conclusion and of the grounds thereof, and shall invite his comments or observations either by word of mouth or in writing.


3.8.3           Subject to any direction as aforesaid the Compliance Officer shall continue his enquiry and on completion thereof he shall make a report in writing to the Compliance Committee setting out his final conclusion, and making such recommendation as he considers appropriate. The Compliance Committee shall consider such report, and shall then take one or more of the steps mentioned in Rule 5.


3.8.4           Any failure by the Compliance Officer to comply with the above procedures or any of them shall not invalidate his conclusions or any steps taken in consequence thereof.


3.8.5           The provisions of the Rule 3 shall be without prejudice to the provisions of the Electronic User Agreement.


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