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7.2.1 Disciplinary Action

(a) If an investigation or inspection reveals that a Member, Approved Trader or Registered Representative has committed a Rule Violation, the Exchange may take any of the following forms of disciplinary action, namely:
(i) to charge the Member, Approved Trader or Registered Representative before the Disciplinary Committee;
(ii) to make an offer of composition to the Member, Approved Trader or Registered Representative, if the Rule Violation is indicated in the third column of Schedule A as a compoundable Rule Violation; or
(iii) to issue a letter of warning to the Member, Approved Trader or Registered Representative.
(b) If the Member, Approved Trader or Registered Representative does not accept the offer of composition or comply with the terms of the composition within the stipulated time as prescribed by the Exchange, the Exchange may refer the said Member, Approved Trader or Registered Representative to the Disciplinary Committee.

Amended on 16 May 201116 May 2011.