Versions

 

2.34.1A

If a Clearing Member has been found guilty of a rule violation or is found to have a record of frequent rule violations and inadequate management, which in the opinion of the Clearing House, places or may place the Clearing House at risk or the financial condition of such Clearing Member is such that it jeopardizes or may jeopardize the integrity of the Clearing House, the Clearing House may carry out one (1) or more of the following against the Clearing Member:—

2.34.1A.1 order it to cease and desist from conduct found to be in violation of this Rules;
2.34.1A.2 prescribe such additional capital requirements as the Clearing House deems necessary;
2.34.1A.3 prescribe such position limits as the Clearing House deems necessary;
2.34.1A.4 impose a fine against it, not exceeding S$250,000;
2.34.1A.5 order the Clearing Member to liquidate all or any portion of the open contracts cleared by it which are open contracts under its House Accounts and/or open contracts of its Customers as the Clearing House deems necessary for ensuring a fair and orderly market or for ensuring the integrity of, and proper management of systemic risk in the organised market and/or transfer all or any portion of the open contracts clearing by such Clearing Member to one (1) or more Clearing Members; and
2.34.1A.6 reprimand, suspend, expel or impose such other sanction or penalty or take such other actions it deems fit against such Clearing Member.

Added on 27 March 200627 March 2006 and amended on 8 October 20188 October 2018.