a) Breach of the rules
Any Stockbroker who is found to be in breach of these rules as hereinabove provided shall be guilty of an offence and subject to penalties as prescribed herein.
The Board through its arbitration Committee and the Council shall have powers to recommend, pronounce and affect anyone or more of, or all the following sanctions against any stockbroker found to have been in breach of these Rules:
i) Suspension of the Stockbroker from the Association for such period as the Committee or the Council would
deem fit but not exceeding Six (6) months.
ii) Expulsion of the stockbroker from the Association.
iii) Payment f such fines as the Committee or the Council would deem fit but not exceeding Kshs 100,000/=. If
any Stockbroker fined fails to pay the fines he automatically becomes suspended from the Association until
he pays the fines.
iv) Recommending to the Authority to cancel the stockbroker’s licence.
c) Use of fines
All fines paid by members shall go to the Association's account for use by the Association for the attainment of its objects as provided for in the Association’s constitution.