SGX-ST may limit the scope of activity of a research analyst or direct a Trading Member to replace a research analyst if the person:—
(1) causes the Trading Member to breach the Rules or Directives;
(2) engages in conduct detrimental to the financial integrity, reputation or interests of SGX-ST, or markets established or operated by SGX-ST;
(3) breaches any provision involving fraud or dishonesty, whether in or out of Singapore; or
(4) is the subject of an investigation involving fraud or dishonesty, whether in or out of Singapore.