(a) The commissioner, by the same procedures described by Section 4005.105, may at any time suspend the exempt status of any trading system exempted by the legislature on or after January 1, 1989, if at the time of the hearing the trading system does not meet the applicable standards for approval of exchanges provided by this title.
(b) The suspension of a trading system under Subsection (a) has the same effect as the withdrawal of approval of a stock exchange under Section 4005.105.
(c) The suspension under Subsection (a) remains in effect until the commissioner by order determines that the trading system:
(1) has corrected each deficiency on which the suspension was based; and
(2) maintains standards and procedures that provide reasonable protection to the public.