Quote Originally Posted by teecee View Post
THere is greater requirement for registered or licenced persons under the rules to comply with the requirements of those rules.
Such agreement is a condition of licencing or registration.
As such failure to comply will / should lead to greater sanctions for these licenced persons who fail to comply with orders legitimately made under the rules.
It is the same in any area. Lawyers, teachers etc have a greater requirement to comply with the rules governing their profession than "Joe Public".
If you don't have the information to charge them in your own right, you don't expect them to supply it to you.........Really!....When someone becomes a 'registered person", I am sure they don't realise they could be expected to hand over their banking details or phone records at any time!.......If you have a specific allegation for a specific day and time and request verification........then so be it! Anyone can be warned off at any time if it takes the boards fancy!........The persons have not complied with a request to supply documents.........the document is not relevant to the day to day situation of being a registered person, and therefore unless a specific request is made, why would someone give over their full records.