(c)
reprimand him or, in
the case of a
registered person
that is a corporation
or firm, reprimand
any director, partner
or person concerned
in its management.
(3)
The Commission shall
not impose any penalty under
subsection (2) without first
giving the registered person
and, in the case of a
registered person that is a
corporation or firm, any
director, partner or person
concerned in its management,
opportunity of being heard.
(4)
Every decision of the
Commission imposing a penalty
under subsection (2) on a
person shall be notified to
that person in writing and
shall include a statement of
the reasons on which it is
based.