MDPPACPB Regulations

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    (c) The applicant undertakes to cease the infringing conduct and 
implement corrective measures; and 
    (d) The application does not materially prejudice the Authority’s ability to 
ensure deterrence and effective enforcement. 
 
(2) Settlement shall not be available where the conduct: 
    (a) Involves fraud, corruption, or wilful obstruction of justice; 
    (b) Causes substantial and irreparable harm to market participants or 
consumers; or 
    (c) Raises issues of overriding public interest requiring full adjudication. 
 
5. Conditions for Settlement 
 
The following conditions must be satisfied before a settlement may be 
concluded: 
(a) Full and truthful disclosure of all facts relevant to the case; 
(b) Written acknowledgement of the facts and legal basis of the infringement; 
(c) Cooperation with the Authority, including disclosure of internal documents, 
data, and testimony; 
(d) Agreement to proposed remedies, compliance undertakings, or corrective 
actions; and 
(e) Agreement to the payment of any settlement sum, penalty, or fine 
reduction determined by the Authority. 
 
 
Part III – Procedural Steps and Timelines 
 
6. Initiation of Settlement Process 
 
(1) A regulated entity may submit a written Notice of Settlement Interest within 
14 days of receiving: 
    (a) A Statement of Objections; or 
    (b) A Notice of Investigation Findings. 
(2) The Authority may, at its discretion, invite a party to consider settlement 
where it deems the case suitable. 
 
7. Submission of Settlement Application 
 
(1) A formal Settlement Application must be filed within 30 days of submitting 
a Notice of Settlement Interest. 
(2) The application shall include: 
    (a) Full admission of facts and liability; 
    (b) Proposal for settlement terms, including corrective measures; 
    (c) Evidence of internal compliance improvements; 
    (d) A statement of willingness to cooperate with the Authority; and 
    (e) Confidentiality requests, if any.