Whole Section

  • 12.4 Composition by SGX-ST for Rule Violation

    • 12.4.1

      SGX-ST may make an offer of composition to a Registered Person if SGX-ST is of the opinion that there has been a violation of the Rules and the Rule violation is indicated in the third column of Schedule A as a compoundable Rule violation. The terms of the offer of composition include payment of a specified sum to SGX-ST and may include the fulfilment of any accompanying terms that SGX-ST may prescribe.

      Added on 3 June 20193 June 2019.

    • 12.4.2

      Upon payment of the specified sum and fulfilment of the accompanying terms within the stipulated time, no further proceedings shall be taken against that Registered Person for that Rule violation.

      Added on 3 June 20193 June 2019.

    • 12.4.3

      Acceptance of the offer of composition by the Registered Person amounts to an admission of liability and the Registered Person will be deemed to have committed the conduct described in the offer of composition.

      Added on 3 June 20193 June 2019.

    • 12.4.4

      SGX-ST retains the discretion to offer composition to a Registered Person of an amount that is lower or higher than the guidelines that are indicated in Schedule A, except that the amount of composition that SGX-ST may offer shall not exceed S$10,000 for each Rule violation.

      Added on 3 June 20193 June 2019.

    • 12.4.5

      Notwithstanding that a Rule violation is indicated as being compoundable under Schedule A, SGX-ST retains the discretion not to make an offer of composition to the Registered Person and instead, to charge the said Registered Person before the Disciplinary Committee.

      Added on 3 June 20193 June 2019.

    • 12.4.6

      If SGX-ST has made an offer of composition, it will not commence disciplinary proceedings against a Registered Person until after the stipulated period for the offer lapses.

      Added on 3 June 20193 June 2019.

    • 12.4.7

      If the Registered Person does not accept the offer of composition or comply with the terms of the composition within the stipulated time as prescribed by SGX-ST, SGX-ST may charge the Registered Person before the Disciplinary Committee.

      Added on 3 June 20193 June 2019.

    • 12.4.8

      For the purposes of determining whether a Rule violation is classified as a first, second, third or subsequent offence under Schedule A, only previous violations under the same Rule will be taken into consideration.

      Added on 3 June 20193 June 2019.