935 CMR 501.302 - Compliance Examination

(1) After an MTC has been licensed, the Commission or a Commission Delegee pursuant to M.G.L. c. 94I and M.G.L. 94G, ยง 4(a)(xx), has the authority to demand access to its papers, books, documents, records, correspondence, electronic communications, and other tangible things to examine and inspect. Such examination and inspection may include interrogatories to parties or subpoenas to compel the production of papers, books, documents, records, correspondence, electronic communications, and other tangible things. The examination and inspection of an MTC may also include the interview of material witnesses, registered agents or Close Associates whom the Commission has determined is involved in the financing, management or operation of the MTC.
(2) Administrative Subpoenas. The Commission or a Commission Delegee may, during a preliminary investigation prior to a hearing, issue, modify, amend or rescind subpoenas. Material witnesses, registered agents, or other Persons whom the Commission has determined are involved in the financing, management or operation of an MTC may petition the Commission to modify, amend or rescind subpoenas.
(3) General Provisions. Administrative subpoenas for compliance examination and inspection shall be issued in the name of the Commission by the Commission or a Commission Delegee. Service may be made in a form and manner determined by the Commission including, but not limited to, by the consent of the parties.
(4) Enforcement of Subpoenas. On the failure of a person to comply with a subpoena, and not subsequently vacated or modified by the Commission or a Commission Delegee, the Commission or a Commission Delegee may apply to the Superior Court for an order to compel compliance with the subpoena; an order for costs and fees associated with the issuance and enforcement of the subpoena; or an order of contempt for any failure by a party to comply with a court order.
(5) The failure to cooperate with provisions of 935 CMR 501.302 may result in administrative or disciplinary action against the Licensee.

Notes

935 CMR 501.302
Adopted by Mass Register Issue 1403, eff. 11/1/2019. Amended by Mass Register Issue 1406, eff. 11/1/2019. Amended by Mass Register Issue 1434, eff. 1/8/2021. Amended by Mass Register Issue 1507, eff. 10/27/2023.

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