To be eligible for registration as a registered professional, an applicant must meet the following criteria:
(1) be employed full time by a sponsor, unless otherwise agreed by the Exchange;
(2) have a satisfactory reputation and work record in all places where he has worked;
(3) not be in breach of any relevant rule or law in any place where he works, including being the subject of any disciplinary proceedings, or any investigation which might lead to disciplinary action by any regulatory authority. The Exchange will take into consideration any previous breaches by the applicant of any relevant rule or law, and past disciplinary action by any regulatory authority. The Exchange will normally not accept an applicant if complaints, warning letters, fines, private or public censures or reprimands, or other disciplinary action by any regulatory authority occurred in the last 2 years;
(4) hold a degree or appropriate professional qualifications; and