Current through Register 1536, December 6, 2024
Section 26.06 - Revocation of Qualification by the Commission(1) If the Commission has reason to believe that a board granted approval to retain a consultant pursuant to 840 CMR 26.04(1), or the investments of any such board, do not comply with the requirements of M.G.L. c. 32, § 23(2), or with the requirements of 840 CMR 16.00 through 26.00, the Commission may require the board to show cause why the qualification of the consultant should not be revoked. If the board fails to establish that its investments do so comply, the Commission may revoke the qualification of the consultant.(2) If the Commission determines that an action of a consultant, including but not limited to, involvement in any regulatory action, litigation or legal proceedings, change in principals or senior professionals, or ability to perform significantly impairs or changes the consultant's ability to perform, the Commission may require the board to show cause why the qualification should not be revoked. If the board fails to establish that the consultant is capable of discharging its duties, the Commission may revoke the qualification.