(1) breaches the Securities and Futures Act or Securities and Futures Regulations;

(2) breaches the Rules or Directives;

(3) breaches any relevant law or regulation which governs that person's other business activities;

(4) breaches the rules of any other exchange;

(5) breaches any provision involving fraud or dishonesty, whether in or out of Singapore;

(6) breaches director's duties;

(7) is the subject of a written complaint involving an allegation of fraud or dishonesty, whether in or out of Singapore;

(8) is the subject of an investigation involving an allegation of fraud or dishonesty, whether in or out of Singapore;

(9) is the subject of any disciplinary action taken by the Trading Member involving suspension, termination, withholding of commissions, fines or any other significant limitation of activities;

(10) engages in conduct that has the effect of circumventing the Securities and Futures Act, Securities and Futures Regulations, the Rules, or Directives;

(11) engages in conduct which is inconsistent with the principles of good business practice;

(12) engages in conduct detrimental to the financial integrity, reputation or interests of SGX-ST , or markets established or operated by SGX-ST; or

(13) is insolvent, or has been issued a bankruptcy or winding up proceeding.