Ruling Disciplinary Committee | DSI 2006-01

DSI Disciplinary Committee ruling dated July 22, 2006.

The DSI Disciplinary Committee ruled on a director of a financial institution who refused to cooperate with a request for information from DSI. The request followed an earlier finding by the AFM in the period when the person concerned was still DSI-registered. The Committee ruled that the person concerned was obliged to cooperate with the information request, even though he was now ex-registered. The committee imposed a fine of €2,500 and ruled that a 12-month suspension would automatically apply to a new registration.

Articles DSI Code of Conduct applicable: 7.1.1, 7.1.2

Linkage to DSI Core Principles:

• Core principle 1: Take responsibility.
  Even as an ex-registeree, the responsibility to cooperate with DSI investigations and requests for information remains.
• Core principle 5: Comply with rules.
  Failure to comply with information requests undermines oversight and trust in the industry.
• Core principle 3: Act carefully
  Carefulness and transparency in communications with regulators are essential to the integrity of financial services.