Whole Section

  • 11.3 Disciplinary Action

    • 11.3.1

      If an investigation or inspection reveals that a Clearing Member, any of its directors, employees or agents has breached any Clearing Rule or Directive, CDP may take any of the following forms of disciplinary action, namely:

      (1) to charge the Clearing Member before the Disciplinary Committee;
      (2) to make an offer of composition to the Clearing Member, if the Rule violation is indicated in the third column of Schedule A as a compoundable Rule violation; or
      (3) to issue a letter of warning to the Clearing Member.

      Amended on 16 May 201116 May 2011.

    • 11.3.2

      If the Clearing Member does not accept the offer of composition or comply with the terms of the composition within the stipulated time as prescribed by CDP, CDP may refer the said Clearing Member to the Disciplinary Committee.

      Added on 16 May 201116 May 2011.

    • 11.3.3

      Where CDP becomes aware of any incident of overtrading as described in Rule 10.11.1 of the SGX-ST Rules, CDP may, in its sole discretion, withhold any profits from the transaction that resulted in overtrading, or any other moneys, that are due or owing to the Clearing Member which qualified that trade, and may not release such profits or moneys until all disciplinary proceedings (including any appeal) in respect of that incident of overtrading have been concluded.

      Added on 23 January 200923 January 2009 and amended on 16 May 201116 May 2011 and 3 June 20193 June 2019.