2.13.1 Registration Criteria for Approved Traders and Registered Representatives
A Member shall register with the Exchange any person acting on its behalf as an Approved Trader or a Registered Representative. To qualify for registration with the Exchange as an Approved Trader or Registered Representative, each applicant:
* The Exchange shall evaluate "fit and proper" criteria in this Rule 2.13.1 in a manner similar to the MAS Guidelines on Fit and Proper Criteria.
Amended on 8 August 20088 August 2008, 25 August 200925 August 2009, 29 November 201029 November 2010 and 1 April 20141 April 2014.
2.13.1A
In approving an application to be an Approved Trader or a Registered Representative, the Exchange may consult the Relevant Regulatory Authority.
Added on 1 April 20141 April 2014.
2.13.2 Registration of Approved Traders
Every Approved Trader shall be required to register with the Exchange before he acts or holds himself out as having the authority to execute trades on the Markets for:
For the avoidance of doubt, an Approved Trader shall not hold himself out as a sales representative of the respective Member or undertake any activities of a Registered Representative unless he is so registered with the Exchange as contemplated under this Rules.
2.13.3 Registration of Registered Representatives
Every Registered Representative shall be required to register with the Exchange before he acts or holds himself out as a sales representative of the respective Member. A Registered Representative shall not act or hold himself out as having the authority to execute trades on the Markets, unless he is registered as an Approved Trader with the Exchange as contemplated under this Rules. Upon being registered as a Registered Representative with the Exchange, a Registered Representative may, in the name of such Member:
Amended on 29 November 201029 November 2010 and 1 April 20141 April 2014.
2.13.4 Register of Approved Traders and Registered Representatives
The Exchange shall maintain a register of Approved Traders and Registered Representatives.
2.13.5 Approved Traders and Registered Representatives Obligations
Approved Traders and Registered Representatives are required to comply with the relevant provisions and other safeguards as prescribed under the Act, this Rules and applicable laws.
2.13.6 Revocation of Registration of Approved Traders and Registered Representatives
A Member shall immediately notify the Exchange if:
The Exchange may terminate the registration of an Approved Trader or a Registered Representation upon notification under Rule 2.13.6(ab) The registration of an Approved Trader or a Registered Representative shall automatically lapse upon such other notification under Rule 2.13.6, or the cessation of his sponsoring Member's Membership.
Amended on 25 August 200925 August 2009, 29 November 201029 November 2010 and 1 April 20141 April 2014.
2.13.7 Summary Powers of Suspension of Registration of Approved Traders and Registered Representatives
Notwithstanding and without prejudice to the powers of the Appeals Committee or the Disciplinary Committee, the Exchange may suspend in whole or in part the privileges of any Approved Trader or a Registered Representative for a period of up to one (1) year upon the occurrence of any of the following events:
Amended on 25 August 200925 August 2009, 29 November 201029 November 2010 and 1 April 20141 April 2014.
2.13.7A Duty to Notify the Exchange of Matters Concerning Approved Traders and Registered Representatives
A Member shall immediately notify the Exchange upon the occurrence of any of the events in Rule 2.13.7(c), (d), (e), (f) and (fa).
Added on 25 August 200925 August 2009 and amended on 29 November 201029 November 2010.
2.13.8 Liability of Members
A Member is responsible for all trades done through it. A corporate Member is responsible for the conduct and execution of trades by its Approved Traders and Registered Representatives and shall monitor and ensure that its Approved Traders and Registered Representatives comply with this Rules. For the avoidance of doubt, the Exchange retains disciplinary and supervisory authority over Approved Traders and Registered Representatives as contemplated in this Rules and applicable laws.
2.13.9 Registration Form
A Member shall submit an application to register a person as an Approved Trader or a Registered Representative in such form as the Exchange may prescribe from time to time. The Exchange may require from the Member or the prospective Approved Trader or Registered Representative such information, and may institute such investigation to verify information submitted by the Member or the prospective Approved Trader or Registered Representative, as it deems necessary. Registration as an Approved Trader or a Registered Representative of the Member takes effect upon the grant of approval by the Exchange.