(a) The provisions of these Rules apply to Members and Issuers in relation to the violations specified below, without prejudice to Applicable Law, including the decisions of the Authority, and with due regard to the powers of the Market .
(b) These Penalties Rules set out the penalties that can be applied by the Market in relation to its Rules.
(c) The Market may impose financial penalties in the cases permitted under Applicable Law, including those set out in Article 6 of these Rules, provided that no penalty exceeds one hundred thousand (100,000) AED.
(d) The terms used in these Penalty Rules have the meanings given to them in the Glossary Rules.
(a) If an Issuer, Member, or other person violates the Rules or Procedures of the Market, the Market may take one or more of the following actions:
(i) issuing a warning notice; and
(ii) freezing the username given to the Member in the trading system; and
(iii) dispose or liquidate part or all of the bank guarantee deposited with the Market in accordance with its requirements, for the purpose of settling any of t...