Where the Banking Commission finds that a reporting institution has failed to comply with the rules of good conduct of the profession, compromised its financial equilibrium or practiced irregular management or no longer meets the conditions required for accreditation or authorization to operate, as the case may be, the Banking Commission may, after informing the Minister of Finance of the State concerned, serve the regulated institution with :
- a warning, or ;
- an order to take or implement, within a specified deadline, the necessary corrective measures or any appropriate protective measures.
Administrative measures are binding. A regulated institution that fails to comply with an administrative measure is deemed to have breached the regulations in force.
