; and (II) submit to the company the report; and (B) if a response by a certified development company is requested in a report submitted under subparagraph (A), require the company to submit responses to the Administrator not later than 45 business days after the date on which the company receives the report. (e) Enforcement authority against certified development companies (1) Informal enforcement authority The Director may take an informal enforcement action against a certified development company if the Director finds that the company has violated a statutory or regulatory requirement or any requirement in a Standard Operating Procedures Manual or Policy Notice relating to a program or function of the Office of Capital Access. (2) Formal enforcement authority (A) In general With the approval of the Lender Oversight Committee established under section 48 of the Small Business Act ( 15 U.S.C. 657u ), the Director may take a formal enforcement action against any certified development company if the Director finds that the company has violated— (i) a statutory or regulatory requirement, including a requirement relating to the necessary funds for making loans when those funds are not made available to the company from private sources on reasonable terms