Whole Section

  • 4.02A Disciplinary Action

    • 4.02A.1

      If an investigation or inspection reveals that a Clearing Member has breached any Rules, the Clearing House may take any of the following forms of disciplinary action, namely:

      4.02A.1.1 to charge the Clearing Member before the Disciplinary Committee;
      4.02A.1.2 to make an offer of composition to the Clearing Member, if an investigation or inspection reveals that the Clearing Member may have breached any Rule which is indicated in the third column of Schedule A as being compoundable; or
      4.02A.1.3 to issue a letter of warning to the Clearing Member.

      Amended on 27 March 200627 March 2006 and 16 May 201116 May 2011.

    • 4.02A.1A

      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 the Clearing House, the Clearing House may refer the said Clearing Member to the Disciplinary Committee.

      Added on 16 May 201116 May 2011.

    • 4.02A.2

      No proceeding or determination in respect of a Rule violation shall be annulled, avoided, called into question or set aside by reason of the fact that the matter under consideration may or should have been dealt with by another committee under this Rules, or that the person concerned was absent from the hearing or any adjournments thereof despite having been given notice thereof.

      Amended on 27 March 200627 March 2006.