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4.39.3

Supervision of Staff

(a) A Trading Member must:
(i) supervise its staff undertaking research or corporate finance activities;
(ii) implement written supervisory procedures to ensure that its staff undertaking research or corporate finance activities comply with this Rule 4.39; and
(iii) implement any procedure or recommendation issued by SGX-ST.
(b) A Trading Member shall be responsible for the acts or omissions of its staff undertaking the relevant activities.
(c) SGX-ST may limit the scope of activity of a staff member undertaking research or corporate finance activities or direct a Trading Member to replace the staff member if the person:
(i) causes the Trading Member to breach the Rules;
(ii) engages in conduct detrimental to the financial integrity, reputation or interests of SGX-ST, or organised markets established or operated by SGX-ST;
(iii) is convicted of an offence involving fraud or dishonesty or is found by a court of law to have acted fraudulently or dishonestly, in each case whether in or out of Singapore; or
(iv) is the subject of an investigation involving fraud or dishonesty whether in or out of Singapore.
(d) A Trading Member may, within 14 days after it is directed by SGX-ST to replace a staff member, appeal in writing to the SGX RegCo Board whose decision will be final.

Added on 3 June 20193 June 2019.