Where, as a result of an investigation, the Commissioner or prescribed member:
(a) is satisfied that the member has not committed a breach of discipline, the Commissioner or prescribed member shall take no further action; or
(b) continues to believe, on the same or different reasonable grounds, that the member has committed a breach of discipline, the Commissioner or prescribed member may:
(i) take no further action;
(ii) counsel and caution the member;
(iii) cause the member to be formally cautioned in writing; or
(iv) charge the member with the breach of discipline alleged.