Whole Section

  • 4.16 Complaints by Clearing Members

    • 4.16.1

      It is the policy of the Clearing House to maintain a forum for the resolution of any dispute between Clearing Members arising out of transactions on the Clearing House or of other matters pertaining to the Clearing House.

      Any Clearing Member who has a dispute, grievance or complaint against another Clearing Member may refer the matter to arbitration in accordance with Chapter 5 or may file a written complaint with the Clearing House as appropriate.

      Amended on 27 March 200627 March 2006.

    • 4.16.2

      A Clearing Member who fails to exhaust the procedures set out above and in Chapter 5 may be found to have engaged in conduct which is substantially detrimental to the interest of the Clearing House.

    • 4.16.3

      A Clearing Member found guilty of having engaged in conduct which is substantially detrimental to the interest of the Clearing House may, in addition to the disciplinary actions prescribed for a major offence, be required to pay the Clearing House an amount computed to include the costs and expenses, including legal fees on an indemnity basis, incurred by the Clearing House in defending or responding to any proceeding by such Clearing Member.

    • 4.16.4

      A Clearing Member who believes that another Clearing Member or the Clearing House or its officials, officers, employees or representatives has acted in contravention of the law or this Rules may, without violating this Rule, complain directly to the Authority.