The Capital Market Law

a) Any person who carries on, or purports to carry on, the activities provided in Article 32 of this Law without a license, shall be considered in violation of the provisions of Article 31 of this Law and the Committee may sentence the violator, in addition to the sanctions set out in Article 59 of this law, to imprisonment for a term not to exceed nine (9) months. b) Any agreement or contract that is entered into in relation to a Security related transaction that is in violation of Article 31 of this Law shall be void, and the violator may not complain on the basis of such agreement or contract against the other party, and the other party shall be entitled to request the rescission of the agreement or contract and the recovery of any money or other property paid or transferred by him under the agreement or contract, provided that he returns any money or other property received by him through such agreement or contract. The Committee shall have jurisdiction over claims brought pursuant to this Article.