A Trading Member must require a Director, Officer, Dealer and employee to obtain the prior written approval of a senior management staff independent of sales or dealing of a Trading Member, or a senior management staff of a related corporation of that Trading Member charged with the approval function, for each trade in his or her personal account or an account over which he or she has control or influence (other than a customer's Discretionary Account) (such account(s) being an account carried on the books of the Trading Member).

Refer to Practice Note 12.17.1.

Amended on 3 April 20083 April 2008 and 1 July 20161 July 2016.

A Trading Representative of the Trading Member must not execute an order for an account referred to in Rule 12.17.1, unless the order is authorised in writing as required under Rule 12.17.1.

A Trading Member must require a Director, Officer, Trading Representative or employee of the Trading Member to trade through it. However, if this is impractical, the Trading Member meets this Rule if it has procedures to monitor such trades and it documents the circumstances that give rise to the impracticality.

A Trading Member must not knowingly buy or sell securities or futures contracts for a Director, Officer, Trading Representative or employee of another Trading Member, except with the prior written approval of the other Trading Member.

Amended on 3 April 20083 April 2008 and 8 October 20188 October 2018.

A Trading Member must have in place procedures to ensure that agents who are privy to confidential information relating to dealing in securities or trading in futures contracts, do not use such information to trade for their own benefit.

Amended on 3 April 20083 April 2008 and 8 October 20188 October 2018.

A Trading Member must have in place procedures to monitor the trading activities of its Directors, Officers, Trading Representatives and employees.

Refer to Practice Note 12.17.1.