4.03A.4

Past version: Effective up to 02 Jun 2019

The powers of the Disciplinary Committee include:—

4.03A.4.1 expelling a Clearing Member;
4.03A.4.2 suspending a Clearing Member;
4.03A.4.3 imposing a fine not exceeding S$250,000 or, in the case of a delivery contract, any other amount as specified in the relevant contract specifications on a Clearing Member;
4.03A.4.4 reprimanding (publicly or privately) a Clearing Member;
4.03A.4.5 requiring an education program to be undertaken;
4.03A.4.6 requiring a compliance program to be undertaken;
4.03A.4.7 imposing any restrictions or conditions on activities that a Clearing Member undertakes or in the case of a Bank Clearing Member, its business governed by this Rules;
4.03A.4.8 requiring reimbursement or compensation to be paid;
4.03A.4.9 ordering payment of fine by instalments;
4.03A.4.10 ordering a stay of the penalty imposed, pending an appeal to the Appeals Committee;
4.03A.4.11 requiring any director or in the case of a Bank Clearing Member, any director or person in a senior management position who is responsible for its business governed by this Rules, to step down from day-to-day conduct of the business affairs of the Clearing Member; and
4.03A.4.12 appointing a manager to manage the business of the Clearing Member or in the case of a Bank Clearing Member, its business governed by this Rules. The Disciplinary Committee will fix the remuneration of the manager, which must be paid by the Clearing Member. The Clearing Member is solely responsible for the manager's acts and defaults. The manager must carry out directions given by the Disciplinary Committee in relation to the business of the Clearing Member, including carrying on the business of the Clearing Member in accordance with instructions.

Added on 27 March 200627 March 2006 and amended on 10 August 200710 August 2007 and 22 February 201022 February 2010.