- (a) When a party fails to request a hearing within the time specified in the cease and desist order or other administrative order, the allegations against the party may be deemed admitted.
(b)
- (1) When a party fails to appear at a scheduled hearing, the allegations against the party may be deemed admitted.
- (2) Without further proceedings or notice to the party, the Securities Commissioner shall issue a final decision.
- (3) The commissioner may, if deemed necessary, receive evidence from the staff, as part of the record, concerning the appropriateness of the amount of any civil penalty sought in the request.
- (c) A party that failed to request or appear at a hearing may file a petition for reconsideration of a final decision.