Past version: Effective from 19 May 2014 to 30 Jun 2016
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by SGX-ST, where SGX-ST has Determined the Trading Member, Approved Executive Director and/or Trading Representative to be Liable | Mandatory minimum penalty imposable by the Disciplinary Committee | ||||||||||
| Rule Chapter/Number | Brief Description of Rule | Trading Members (or Designated Market Maker, where applicable) | Approved Executive Directors | Trading Representatives (or Market Making Representative, where applicable) | |||||||||
| 1st Violation | 2nd Violation | 3rd Violation | 1st Violation | 2nd Violation | 3rd Violation | 1st Violation | 2nd Violation | 3rd Violation | |||||
| Chapter 12 — Operational Requirements | |||||||||||||
| 12.1 | Records | ||||||||||||
| 12.1.1(1) | Trading Member, Director or Trading Representative to maintain complete and accurate records in accordance with the SFA and/or SFR, or requirements prescribed by the Relevant Regulatory Authority, as applicable. | Not Compoundable | [Unless otherwise specified in this Schedule] | ||||||||||
| Not Compoundable | $10,000 | ||||||||||||
| Trading Member, Director or Trading Representative to maintain complete and accurate records in accordance with the Rules | Compoundable | [Unless otherwise specified in this Schedule] | |||||||||||
| $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | ||||
| Trading Member to notify SGX-ST of changes to requirements prescribed by the Relevant Regulatory Authority. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| Trading Member to comply with additional requirements prescribed by SGX-ST. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||||
| 12.1.1(2) | Trading Member, Director or Trading Representative not to make false or misleading entries. | Not Compoundable | Not Compoundable | $10,000 | |||||||||
| 12.1.1(3) | Trading Member, Director or Trading Representative to make all material entries in any Document. | Not Compoundable | Not Compoundable | $10,000 | |||||||||
| 12.1.1(4) | Trading Member, Director or Trading Representative not to alter or destroy any Documents. | Not Compoundable | Not Compoundable | $10,000 | |||||||||
| 12.1.2 | Trading Member, Director or Trading Representative to ensure integrity, security and confidentiality in the transmission and storage of records. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | |
| 12.1.3 | Trading Member to make records available to SGX-ST as required | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.2 | Confidentiality of customer's information | ||||||||||||
| 12.2.1 | Trading Member and Trading Representative to maintain confidentiality of customer's information. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | |
| 12.2.2 | Failure to ensure that a person to whom customer's information is disclosed maintains confidentiality. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | |
| 12.3 | Customer accounts | ||||||||||||
| 12.3.1(1) | Trading Member to obtain the necessary particulars before opening an individual customer account. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.1(2) | Trading Member to verify customer's identity and intention when account is not opened in person. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.2(1) | Trading Member to obtain the necessary particulars before opening a corporate customer account. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.2(2) | Trading Member to obtain a certified true copy of the certificate of incorporation of the customer before opening a corporate customer account | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.2(3) | Trading Member to obtain the necessary documents before opening a corporate customer account | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.3 | Trading Member to have on file the necessary particulars and/or documents for opening an agency account. | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.4(1) | Trading Member to allow customers to open a joint account only if the specified conditions are met | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.4(2) | Trading Member not to permit a joint account to be operated by more than 2 individuals | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.4(3) | Trading Member to maintain the necessary information for the operation of a joint account. | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.4(4) | Trading Member to require each joint account holder to specify whether he/she is jointly and severally liable for debts incurred in the joint account. | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.5 | Customer accounts to be approved in the stipulated manner. | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.6 | Trading Member to obtain a written risk acknowledgement statement from a customer in accordance with the SFA and/or SFR, or requirements prescribed by the Relevant Regulatory Authority, as applicable.. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| Trading Member to notify SGX-ST of changes to requirements prescribed by the Relevant Regulatory Authority. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| Trading Member to comply with additional requirements prescribed by SGX-ST. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||||
| 12.3.7 | Trading Member to designate a customer account by the customer's full name and an account code. | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3.9 | Trading Member to ensure customer and proprietary account code designated by 7 alphanumeric/numeric characters | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.3A | Customer Education | ||||||||||||
| 12.3A.1 | Trading Member to provide online customers with adequate information on specific areas | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.4 | Trading Authority | ||||||||||||
| 12.4.1 | Trading Member to obtain written authorisation from the customer before accepting orders from a third party. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.5 | Brokerages and Charges | ||||||||||||
| 12.5.1 | Commission rate chargeable to comply with specified rates, if so prescribed by SGX-ST | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.5.2 | Trading Member to disclose charges and expenses to be borne by the customer. | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.6 | Contract Notes | ||||||||||||
| 12.6.1 | Trading Member to send customer a contract note for purchase and sale of securities or Futures Contracts. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | N.A. | ||||||
| 12.6.2 | Trading Member to state on the contract note that the contract is subjected to the Rules and Directives of SGX-ST. | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.6.3(1) | Trading Member to include information in the contract note in accordance with SFR. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | N.A. | ||||||
| Trading Member to show separately in the contract note, the stipulated fees, tax and charges. | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | ||
| 12.6.3(2) | Trading Member to obtain customer's consent before issuing contract notes in electronic form. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.6.4 | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | |
| Trading Member to comply with such requirements prescribed by the Relevant Regulatory Authority in respect of contract notes. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | N.A. | |||||||
| Trading Member to comply with such requirements prescribed by the Relevant Regulatory Authority before sending contract notes in electronic form. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| Trading Member to notify SGX-ST of changes to requirements prescribed by the Relevant Regulatory Authority. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| Trading Member to comply with additional requirements prescribed by SGX-ST. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | N.A. | |||||||
| [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | |
| 12.6.7 | Trading Member to produce contract notes to SGX-ST in the same form as when given to customers. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.7 | Statement of Account to Customers | ||||||||||||
| 12.7.1 | Trading Member to send customer a monthly statement of account. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.7.2(1) | Trading Member to include information in the statement of account in accordance with SFR. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | N.A. | ||||||
| Trading Member to include any other information in the statement of account as prescribed by SGX-ST | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| Trading Member to obtain customers' consent before sending statement of account in electronic form. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| 12.7.2(2) | Trading Member to comply with such requirements prescribed by the Relevant Regulatory Authority in respect of statements of account. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | N.A. | ||||||
| Trading Member to comply with such requirements prescribed by the Relevant Regulatory Authority before sending statement of account in electronic form. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| Trading Member to notify SGX-ST of changes to requirements prescribed by the Relevant Regulatory Authority. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| Trading Member to comply with additional requirements prescribed by SGX-ST. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||||
| 12.7.3 | [Deleted] | [Deleted] | [Deleted] | [Deleted] | [Deleted] | [Deleted] | [Deleted] | [Deleted] | [Deleted] | [Deleted] | [Deleted] | [Deleted] | |
| 12.7.5 | Trading Member to produce statement of accounts to SGX-ST in the same form as when given to customers. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.8 | Amendment of Contract | ||||||||||||
| 12.8.1 | Trading Member to amend contract only if there is a valid reason. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.8.2 | Amendment of contract to be approved by the specified persons | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.8.3 | Approval to be given before contract is amended | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.9 | Communication with Third Parties | ||||||||||||
| 12.9.1 | Trading Member to communicate directly with customers. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.9.2 | Trading Member not to allow a third party to collect cash or stipulated documents without written authorisation. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.10 | Payment to Customers | ||||||||||||
| 12.10.1 | All cheques to customers to be crossed unless stipulated conditions are met | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.10.2 | Trading Member not to accept a house cheque unless the stipulated conditions are met | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.10A | Customer's Money and Assets | ||||||||||||
| 12.10A.1 | Trading Member to meet the stipulated fiduciary obligations to its Customers | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.10A.2(2) | Trading Member to comply with such requirements prescribed by the Relevant Regulatory Authority in respect of stipulated fiduciary obligations. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| Trading Member to notify SGX-ST of changes to requirements prescribed by the Relevant Regulatory Authority. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| Trading Member to comply with additional requirements prescribed by SGX-ST. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||||
| 12.11 | Customer's and Remisier's Money | ||||||||||||
| 12.11.1 | Trading Member to comply with the stipulated provisions in the Securities and Futures (Licensing and Conduct of Business) Regulations 2002. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.11.2 | Trading Member to deposit all money received on account of a Remisier in a trust account. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.11.3 | Trading Member to designate the accounts maintained with a financial institution as a trust account, or customer or Remisier account, as the case may be. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.11.5 | Trading Member not to commingle money received with Trading Member's own funds. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.11.6 | Trading Member not to withdraw Remisier's money from a trust account when the prescribed conditions are not met. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.11.7 | Trading Member to notify the Remisier of the withdrawal made by the next business day | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.12 | Customer's and Remisier's Assets | ||||||||||||
| 12.12.1 | Trading Member to comply with the stipulated provisions in the Securities and Futures (Licensing and Conduct of Business) Regulations 2002. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.12.3 | Trading Member to designate accounts maintained with a financial institution as a trust account, customer, or Remisier account. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.12.4 | Trading Member to deposit assets of its customers in a separate custody account from Remisiers | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.12.5 | Trading Member not to commingle assets of a customer or Remisier, with Trading Member's own assets. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.12.6 | Trading Member not to withdraw remisier's assets from a custody account when the prescribed conditions are not met. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.12.7 | Trading Member to notify the Remisier of the withdrawal of assets by the next business day | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.13 | Reporting of Delinquent Accounts. | ||||||||||||
| 12.13.1 | Trading Member to inform SGX-ST of the particulars of delinquent accounts. | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.14 | Separation of Front Office and Back Office Functions | ||||||||||||
| 12.14.1 | Trading Member to separate front and back office functions. | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | ||||||
| 12.15 | Stock Account | ||||||||||||
| 12.15.1 | Trading Member to make trades of securities or Futures Contracts for the Trading Member's proprietary account under a separate stock account. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.15.2 | Stock Account to be operated by a Director, or his designate, who is licensed to trade. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.15.3 | Trading Member not to allow a Remisier to operate a Stock Account. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.16 | Suspense Account | ||||||||||||
| 12.16.1(2) | Purchases and trades to be booked to the customer's account when the order is completed | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | |
| 12.16.1(3) | Orders not to be warehoused in a suspense account for more than 2 Market Days without proper reasons for the extension of time. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | |
| 12.16.2 | Trading Member not to execute trades in a customer's suspense account for another customer unless the prescribed conditions are met | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.16.3 | A general suspense account for different customers only to be used where the Trading Member has procedures to ensure fair allocation. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.16.4 | Suspense account not to be used for error trades or proprietary trades. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | |
| 12.17 | Trading by Employees and Agents | ||||||||||||
| 12.17.1 | Trading Member to require a Director, Officer, Dealer and employee to obtain prior written approval for each trade | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.17.2 | Trading Representative not to execute an order for the stipulated accounts without proper written authorisation. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | |
| 12.17.3 | Trading Member to require Director, Officer, Trading Representative, employees to trade through the Trading Member. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.17.4 | Trading Member not to buy or sell securities or Futures Contracts for Director, Officer, Trading Representative, employees of another Trading Member without prior written approval of that Trading Member. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.17.5 | Trading Member to put in place procedures to ensure that agents who are privy to confidential information do not use the information to trade for their own benefit. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.17.6 | Trading Member to put in place procedures to monitor trading activities of Director, Officer, Trading Representative, employees. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.18 | Compliance Review | ||||||||||||
| 12.18.2 | Trading Member to carry out checks through stipulated department/person. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.18.1 | Trading Member to carry out checks to ensure compliance with all regulatory requirements. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.19 | Advertising | ||||||||||||
| 12.19.1 | Trading Member to ensure that advertising or publicity adheres to the stipulated requirements. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.19.2 | Trading Member that holds a licence specified in Rule 4.1.1(1)(b) not to direct advertising or publicity to Customers domiciled in Singapore. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.20 | Soft Dollar Commissions | ||||||||||||
| 12.20.1 | Trading Member and Trading Representatives not to receive goods and services from a broker when the stipulated criteria are not met. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | |
| 12.20.2 | Trading Member not to pay for goods and services to customers when the stipulated criteria are not met. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.21 | Use of Office Premises | ||||||||||||
| 12.21.1 | Trading Member not to allow unauthorised persons to use the Trading Member's office premises. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.22 | Use of Prescribed Forms | ||||||||||||
| 12.22.1 | Trading Member to use forms prescribed by SGX-ST. | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | |
| 12.23 | Application of Chapter 12 | ||||||||||||
| 12.23.2 | Trading Member that holds a licence specified in Rule 4.1.1(1)(b) to comply with such requirements prescribed by the Relevant Regulatory Authority and principles of good business practice in respect of the stipulated requirements in relation to Rules 12.3.1, 12.3.2, 12.4, 12.8.2, 12.8.3, 12.9, 12.10, 12.15, 12.16 and 12.17.21 | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| Trading Member that holds a licence specified in Rule 4.1.1(1)(b) to comply with such requirements prescribed by the Relevant Regulatory Authority and principles of good business practice in respect of the stipulated requirements in relation to Rules 12.3.3, 12.3.4, 12.3.5 and 12.3A.22 | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. | ||
Added on 16 May 201116 May 2011 and amended on 18 September 201218 September 2012 and 19 May 201419 May 2014.