7.6.1
The Exchange may initiate disciplinary proceedings and charge a Member, Approved Trader, or Registered Representative before the Disciplinary Committee if the Exchange is of the opinion that the Member, Approved Trader or Registered Representative has committed any of the following:
Amended on 1 April 20141 April 2014 and 3 June 20193 June 2019.
7.6.1A
The Disciplinary Committee shall, as a tribunal of first instance hear and determine charges brought by the Exchange against a Member, Approved Trader, or Registered Representative pursuant to Rule 7.6.1. The Disciplinary Committee may exercise its powers against a Member, Approved Trader, or Registered Representative if it is satisfied, on a balance of probabilities, that the Member, Approved Trader, or Registered Representative has committed any of the matters set out in Rule 7.6.1.
Added on 3 June 20193 June 2019.
7.6.2 Powers of the Disciplinary Committee
The Disciplinary Committee may impose one or more of the following Sanctions:
The Disciplinary Committee may order a stay of any Sanction imposed, pending an appeal to the Appeals Committee.
Amended on 25 August 200925 August 2009 and 3 June 20193 June 2019.
7.6.2A Mandatory Minimum Penalties to be Imposed by Disciplinary Committee for certain Rule Violations
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 16 May 201116 May 2011 and amended on 3 June 20193 June 2019.
7.6.2B
A failure to comply with any Sanction imposed by the Disciplinary Committee constitutes a breach of this Rules.
Added on 3 June 20193 June 2019.
7.6.3 Exercise of Power by Disciplinary Committee Due to Breach by Chief Executive Officer, Director or Key Personnel
The Disciplinary Committee may exercise its powers against a Member if that Member's chief executive officer, any director or key personnel who is suitably qualified and experienced to implement, oversee and maintain adequate internal procedures and risk management controls as contemplated under the Rules commits, or causes that Member to commit any of the acts described in Rule 7.6.1, whether or not such chief executive officer, director or key personnel is so authorised to act on behalf of the Member.
7.6.4 Former Member Bound by Rules for Acts or Omission Before Expulsion
A former Member, Approved Trader or Registered Representative is bound by this Rules in respect of acts or omissions occurring before expulsion. The Exchange and the Disciplinary Committee retain their respective powers notwithstanding expulsion.*
* Augments Rule 2.15.5 which refers to Members only.