MARKET COMPLIANCE AND ENFORCEMENT COMMITTEE (MCEC)
The regulatory enforcement role of PDEx is carried out by the MRSG as the front line unit and the MCEC. The MRSG performs surveillance and detection procedures, and carries out the actions mandated by the MCEC in disciplinary matters.
The MCEC performs the disciplinary process of the SRO, according parties due process in the conduct of proceedings, making findings of fact in cases brought before it by the MRSG, and adjudicating the said cases, including the imposition of sanctions in accordance with the PDEx Rules as warranted by the facts.
Given the need for impartiality in performing this function, and a heightened sensitivity to confidentiality in the proceedings, the MCEC is composed only of independent governors, and the market operator who has a key interest in ensuring that the delivery of impartial justice is carried out.