81
(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 corpora ·
tion or firm, any direc-
tor, partner or person
C cerned in its manage
ment, an opportunity of
being heard.
A 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 i t i s
based.
5 For the purp ses
of this sect on
19
misconduct" means
(a) any failure to
comply with the
requirements of
this Ordinance or
the Securities and
Futures Commission
Ordinance 1989 (
o f 1989) or any
regulations made
there under with
r e spect to
dealers, commodity
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