7.6.2 Powers of the Disciplinary Committee

Past version: Effective up to 02 Jun 2019

If the Disciplinary Committee is satisfied that the Exchange has proved on a balance of probabilities that the Member, Approved Trader or Registered Representative has committed the conduct described in the charge, the Disciplinary Committee may impose one or more of the following Sanctions:

(a) expelling the Member, Approved Trader or Registered Representative concerned;
(b) suspending the Member, Approved Trader or Registered Representative concerned;
(c) imposing a penalty not exceeding S$250,000 on the Member, Approved Trader or Registered Representative concerned, which may be paid in installments;
(d) reprimanding the Member, Approved Trader or Registered Representative concerned;
(e) requiring an education program to be undertaken by the Member, Approved Trader or Registered Representative concerned;
(f) requiring a compliance program to be undertaken by the Member, Approved Trader or Registered Representative concerned;
(g) imposing any restrictions or conditions on activities that the Member, Approved Trader or Registered Representative concerned undertakes, or, in the case of a Bank Trading Member, undertakes for the Bank Trading Member's Business Governed by this Rules;
(h) requiring the Member, Approved Trader or Registered Representative concerned to make reimbursement or compensation of up to $250,000 to any Person who has suffered pecuniary loss as a result of the conduct of that Member, Approved Trader or Registered Representative;
(i) requiring any director of the Member concerned, or in the case of a Bank Trading 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 Member; or
(j) appointing a manager to manage the business of the Member concerned, or, in the case of a Bank Trading Member, its Business Governed by this Rules. The Disciplinary Committee shall fix the remuneration of the manager, which shall be paid by the Member concerned. The Member concerned is solely responsible for the manager's acts and defaults. The manager shall carry out directions given by the Disciplinary Committee in relation to the conduct of the business of the Member concerned.

The Disciplinary Committee may also order a stay of any Sanction imposed under this Rule, pending an appeal to the Appeals Committee.

Amended on 25 August 200925 August 2009.