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11.3.1

If an investigation or inspection reveals that a Clearing Member, any of its directors, employees or agents has breached any Clearing Rule or Directive, CDP may take any of the following forms of disciplinary action, namely:

(1) to charge the Clearing Member before the Disciplinary Committee;
(2) to make an offer of composition to the Clearing Member, if the Rule violation is indicated in the third column of Schedule A as a compoundable Rule violation; or
(3) to issue a letter of warning to the Clearing Member.

Amended on 16 May 201116 May 2011.