The Commissioner may revoke an entity's registration under this Act if the Commissioner reasonably believes that any of certain conditions exist. These conditions include the following:

  (a)   the entity not being entitled to registration;

  (b)   the entity contravening this Act or not complying with a governance standard or external conduct standard;

  (c)   the entity providing information that was false or misleading in a material particular in its application for registration;

  (d)   the entity requesting that the Commissioner revoke the registration.

The Commissioner must consider a range of factors before revoking a registered entity's registration under this Act.

If the Commissioner believes on reasonable grounds that a registered entity is not entitled to be registered, the Commissioner may give a show cause notice to the entity.