1. The Authority may conduct administrative investigations whenever there is a suspicion of violations related to the provisions of this Decree by Law and the Relevant Legislation, or upon receipt of a report thereof. 2. The Authority may request any information, documents, electronic or digital records, data, or reports from Persons or entities subject to its supervision, provided that such requests relate to any transactions, Financial Activities, or Financial Services regulated pursuant to this Decree by Law and the Relevant Legislation, or request disclosure of the Person who possesses any thereof. Such request shall be in writing, reasoned, and limited to what is necessary for the purposes of the administrative investigation. The Persons concerned shall furnish the Authority with the requested materials within a reasonable period determined by the Authority. 3. The Authority may require the attendance any Person subject to its supervision to provide testimony or undergo administrative investigation whenever deemed necessary under the provisions of this Decree by Law and the Relevant Legislation. Failure to attend without an acceptable excuse shall constitute an administrative violation, without prejudice to the Person’s right to seek the assistance of an attorney or legal representative. 4. The Authority shall request information or testimony in coordination with the competent supervisory authority, if any, if the concerned Person or entity is not subject to the Authority’s supervision. 5. Should the Person from whom testimony, information or documents is sought be located outside the State, the Authority may coordinate with the foreign supervisory authority in this regard. 6. The Authority shall have the right to enter the workplaces of Persons subject to its supervision during official working hours, to the extent necessary to verify compliance with the provisions of this Decree by Law and the Relevant Legislation, for the purposes of examining and copying the relevant records and documents, or for conducting an administrative investigation or inspection. The Authority may not enter any premises not subject to its supervision except with the approval of the concerned authority or pursuant to an authorization from the competent Public Prosecution. 7. The Authority may conduct hearings using modern technological means, and may photograph or record such hearings after informing the Person whose testimony is being taken. 8. Any Person required to provide testimony shall comply with the procedural rules of the hearing and attend at the time specified by the Authority, unless they have an excuse accepted by the Authority, and shall sign the investigation minute. 9. The Authority may issue a decision setting out the controls and procedures necessary for managing testimony hearings. 10. The Authority may issue its decision in the administrative investigation in light of the information and data in its possession, in the event the Person fails to attend to provide testimony or fails to comply with any of the procedures of the hearing, including refusal to answer investigation questions. 11. During the administrative investigation, the Authority may take the following measures: a. Refer any suspected criminal conduct to the competent Public Prosecution for the initiation of appropriate criminal investigation proceedings; b. Seek the assistance of one or more experts in the subject matter of the investigation and the violator may, in the event the violation is established, be charged with the costs of such expertise; c. Suspend any Person involved in the investigation from trading or dealing in Financial Products in their account, whether personally, through another, or in any other capacity for the account of others, whenever justified, and may lift the suspension upon removal of such justification; d. Suspend dealings in a trading account or in a particular Financial Product, if the dealing therein is under suspicion, until the reasons for the same cease to exist; e. Suspend any Licensed or Approved Person from practicing their activity or duties whenever justified, and may lift such suspension upon removal of the justification; f. Determine the Persons entitled to attend the investigation; g. Impose restrictions on attendance, including prohibiting disclosure to any Person of information or questions relating to the Person under investigation; h. Regulate the conduct of attendees during the investigation to ensure proper conduct of the hearing and maintenance of order; i. Undertake procedural measures necessary for the administrative investigation, within the limits of the provisions of this Decree by Law and the applicable legislation; j. Request information, documents, electronic or digital records, audio or visual recordings, or bank account from Relevant Authorities or competent judicial authorities, pursuant to the applicable legislation and as required for the administrative investigation; k. The data, documents, or records obtained as a result of the administrative investigation shall constitute evidence e that may be relied upon in any legal or judicial proceeding instituted by the Authority, without prejudice to the right of competent judicial authorities to assess their probative value in accordance with the legally prescribed rules of evidence; l. Retain information and documents throughout the duration of the administrative investigation and to the extent necessary to complete legal procedures; m. No Person may intentionally obstruct or delay the administrative investigation; n. The Authority may publish such information as it deems appropriate in connection with the procedures of the administrative investigation or its referrals to the judicial authorities, to the extent that it does not prejudice the public interest, individual rights, or commercial reputation, and may publish information, data, or results relating to the administrative investigation or the violation after the issuance of a final decision by the Authority or a final judicial ruling.
Interpretation and application must be checked against the official text and current version.