12.5.1
SGX-ST may initiate disciplinary proceedings and charge a Registered Person before the Disciplinary Committee if SGX-ST is of the opinion that the Registered Person has committed, or has caused its Trading Member to commit (where applicable), any of the following:
Added on 3 June 20193 June 2019.
12.5.2
The Disciplinary Committee shall comprise persons appointed by the SGX RegCo Board and shall not have a member who is, or who within three years of the proposed appointment date was, a Director, Officer or employee of:
Added on 3 June 20193 June 2019.
12.5.3
The SGX RegCo Board shall appoint the chairman and the deputy chairman of the Disciplinary Committee. In the absence of the chairman, the deputy chairman will have all the powers of the chairman.
Added on 3 June 20193 June 2019.
12.5.4
The Disciplinary Committee shall, as a tribunal of first instance, hear and determine charges brought by SGX-ST against a Registered Person pursuant to Rule 12.5.1. The Disciplinary Committee may exercise its powers against a Registered Person if it is satisfied, on a balance of probabilities, that the Registered Person has committed any of the matters set out in Rule 12.5.1.
Added on 3 June 20193 June 2019.
12.5.5
Procedures may be issued in relation to Disciplinary Committee proceedings. The procedures are binding on all the parties to the proceedings and may be varied by the Disciplinary Committee as provided in the procedures or the Rules. Where any matter is not dealt with by the procedures or the Rules, the Disciplinary Committee may establish its own procedures.
Refer to the [Disciplinary Committee and Appeals Committee Handbook].
Added on 3 June 20193 June 2019.
12.5.6
The Disciplinary Committee may hear and determine charges against a Registered Person even if the Registered Person is no longer a Registered Person at the time of the Disciplinary Committee hearing, so long as the Registered Person was a Registered Person at the time of the alleged contravention.
Added on 3 June 20193 June 2019.
12.5.7
The Disciplinary Committee may impose one or more of the following sanctions:
Added on 3 June 20193 June 2019.
12.5.8
Where a mandatory minimum penalty has been stipulated for a particular Rule violation in the thirteenth column of Schedule A, the Disciplinary Committee:
Added on 3 June 20193 June 2019.
12.5.9
A failure to comply with any sanction imposed by the Disciplinary Committee constitutes a breach of the Rules.
Added on 3 June 20193 June 2019.
12.5.10
The Disciplinary Committee may order a stay of the penalty imposed, pending an appeal to the Appeals Committee.
Added on 3 June 20193 June 2019.
12.5.11
The Disciplinary Committee shall provide its written grounds of decision, which shall include any sanctions imposed against the Registered Person, within a reasonable period after the conclusion of the hearing.
Added on 3 June 20193 June 2019.
12.5.12
The Disciplinary Committee shall cause its written grounds of decision to be published, unless the sanction imposed involves the issuance of a private reprimand. Where a private reprimand is issued by the Disciplinary Committee, the Disciplinary Committee shall determine whether the written grounds of decision are to be published and if so, whether the written grounds of decision are to be published in part or in whole.
Added on 3 June 20193 June 2019.
12.5.13
Each Registered Person irrevocably consents to the publication of the Disciplinary Committee's written grounds of decision pursuant to Rule 12.5.12. The consent will remain valid and effective notwithstanding that the Registered Person ceases to be a Registered Person. A Registered Person cannot initiate any action or proceeding against SGX-ST or the Disciplinary Committee for such publication.
Added on 3 June 20193 June 2019.