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11.5.4

The powers of the Disciplinary Committee include:—

(1) expelling a Clearing Member. The Disciplinary Committee may order a Clearing Member to be expelled notwithstanding that he has resigned
(2) suspending a Clearing Member;
(3) imposing a fine not exceeding S$250,000 per charge on a Clearing Member, or in the case of multiple charges, not exceeding S$1,000,000 per hearing;
(4) reprimanding (publicly or privately) a Clearing Member;
(5) requiring an education program to be undertaken;
(6) requiring a compliance program to be undertaken;
(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 Clearing Rules;
(8) requiring compensation to be paid;
(9) ordering payment of fines by instalments, which shall not exceed 12 months from the date of imposition of the fine, unless otherwise permitted by the Disciplinary Committee;
(10) ordering a stay of the penalty imposed, pending an appeal to the Appeals Committee;
(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 Clearing Rules, to step down from the day-to-day conduct of business affairs of the Clearing Member; and
(12) confirming, changing or discharging the appointment of a Manager under Rule 11.12.2(4).

Amended on 1 July 20081 July 2008 and 3 June 20193 June 2019.