Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
Definitions and Interpretation
Chapter 1 Introduction
Chapter 2 Sponsors
Chapter 3 Disciplinary and Appeals Procedures, and Enforcement Powers of the Exchange
Chapter 4 Equity Securities
Chapter 5 Reserved
Chapter 6 Reserved
Chapter 7 Continuing Obligation
Chapter 8 Changes in Capital
Chapter 9 Interested Person Transactions
Chapter 10 Acquisitions and Realisations
Chapter 11 Takeovers
Chapter 12 Circulars, Annual Reports and Electronic Communications
Chapter 13 Trading Halt, Suspension and Delisting
Chapter 14 Transition Rules
Appendices
Practice Notes
Code of Corporate Governance 2012
Code of Corporate Governance 2018
SGX-ST Rules
CDP Clearing Rules
CDP Settlement Rules
DVP Rules [Entire Rulebook has been deleted]
CDP Depository Rules
Futures Trading Rules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(1 version)
 
Oct 7 2015 onwards

317

(1) Upon conclusion of the hearing, the Disciplinary Committee shall within a specified period of no more than 6 weeks determine if the proceeded charges are made out and provide a written grounds of decision.
(2) Where the Disciplinary Committee makes a finding that the proceeded charges are made out, the Disciplinary Committee shall also include in the written grounds, the sanctions which are to be imposed against the Relevant Person. The Disciplinary Committee may impose one or more of the following sanctions:
(a) issuing a private warning;
(b) issuing a public reprimand;
(c) in the case of an issuer:
(i) requiring an issuer to appoint special auditors, compliance advisers, legal advisers or other independent professionals for specified purposes;
(ii) requiring an issuer to implement an effective education or compliance programme;
(iii) requiring an issuer to appoint independent advisers to minority shareholders;
(iv) requiring an issuer's directors or key executive officers to undertake a mandatory education or training programme;
(v) requiring an issuer to undertake an independent review of internal controls and processes;
(vi) requiring an issuer to perform other remedial action to rectify the consequences of contraventions;
(vii) issuing an order for the denial of facilities of the market, prohibiting an issuer from accessing the facilities of the market for a specified period;
(viii) requiring an issuer to comply with conditions on the activities undertaken by the issuer;
(ix) imposing fines payable to the Exchange, of not more than $250,000 per contravention, subject to a maximum of $1,000,000 per hearing for multiple charges. Fines may be paid by way of instalments which shall not exceed 12 months from the date of the imposition of the fine;
(x) issuing an order for the suspension of the trading of an issuer's securities for a specified period; or
(xi) issuing an order for the removal of an issuer from the Official List;
(d) in the case of a sponsor:
(i) imposing conditions on the authorization of a sponsor;
(ii) imposing fines payable to the Exchange, of not more than $250,000 per contravention, subject to a maximum of $1,000,000 per hearing for multiple charges. Fines may be paid by way of instalments which shall not exceed 12 months from the date of the imposition of the fine;
(iii) issuing an order for the revocation of the authorization of a sponsor;
(iv) suspending or restricting the activities that the sponsor undertakes; or
(v) requiring an education program to be undertaken;
(e) In the case of a director or executive officer of an issuer:
(i) requiring the resignation of the director or executive officer from an existing position with any issuer listed on the Exchange;
(ii) issuing an order prohibiting any issuer for a period not exceeding 3 years, from appointing or reappointing the director or executive officer, as a director or executive officer, or both;
(f) in the case of a registered professional;
(i) imposing conditions on the registration of a registered professional;
(ii) imposing fines payable to the Exchange, of not more than $100,000 per contravention, subject to a maximum of $500,000 per hearing for multiple charges. Fines may be paid by way of instalments which shall not exceed 12 months from the date of the imposition of the fine;
(iii) suspending or restricting activities that the registered professional undertakes;
(iv) issuing an order for the cancellation of the registration of a registered professional; or
(v) requiring an education program to be undertaken;
(g) issuing an order for costs, requiring that the proceedings be paid by a Relevant Person if the Relevant Person's conduct during proceedings was unreasonable; or
(h) issuing any other order which the Disciplinary Committee is of the opinion is appropriate.
(3) Where the Disciplinary Committee finds that proceeded charges are made out, and the Relevant Person did not object under Rule 316(5) to an application for charges to be TIC charges, the Disciplinary Committee shall consider the TIC charges before determining the appropriate sanctions. The Disciplinary Committee shall include in the written grounds of decision, the effect that the TIC charges had on the determination of the sanctions imposed.
(4) Where the Disciplinary Committee considers a TIC charge and has included in the written grounds of decision, the effect that the TIC charge had on the determination of the sanctions imposed, the Exchange may not take any further disciplinary action against the Relevant Person in respect of the TIC charge.
(5) Where a Relevant Person objects to an application for charges to be taken into consideration under Rule 316(5), the charges shall be deemed to be stood down charges. The Disciplinary Committee shall not consider stood down charges when determining sanctions to be imposed.
(6) The Exchange may proceed on the stood down charges by convening a separate Disciplinary Committee hearing.
(7) Failure by a Relevant Person to comply with such requirements or orders issued by the Disciplinary Committee under Rule 317(2) shall be deemed a contravention of the Rules.

Added on 7 October 2015.