(a) The license issued under section 721 is subject to revocation or suspension by the Board, upon previous notice and hearing pursuant to the regulations under this chapter, if:
(1) An international financial services entity or the person of which the international financial services entity is a unit, contravenes or fails to comply with any of the provisions of this chapter, any regulation of the Board, or any of the terms or conditions of the license to operate an international financial services entity.
(2) An international financial services entity fails to pay the annual license fee of $75,000.
(3) The Board finds that the business or affairs of an international financial services entity are conducted in a manner that is not consistent with the public interest.
(b) In all hearings commenced under this chapter, the International Financial Services Entity has the burden of proof, and the standard of proof is by clear and convincing evidence. The Board may not undertake any arbitrary or discriminatory enforcement action.
(c) An international financial services entity or the person of which the international financial services entity is a unit, may at any time, and in the manner provided by the regulations of the Board, surrender its license to operate an international financial services entity.