| Rule Violation | Whether composition may be offered | Composition amount that may be offered by SGX-ST, where SGX-ST has determined the Trading Member, Chief Executive Officer and/or Trading Representative to be liable | Mandatory minimum penalty imposable by the Disciplinary Committee | |||||||||
| Rule Chapter/Number | Brief Description of Rule | Trading Members (or Designated Market Maker, where applicable) | Chief Executive Officer | Trading Representatives (or Market Making Representative, where applicable) | ||||||||
| 1st Violation | 2nd Violation | 3rd Violation | 1st Violation | 2nd Violation | 3rd Violation | 1st Violation | 2nd Violation | 3rd Violation | ||||
| Chapter 2 — Admission and Registration of Trading Members, Chief Executive Officers and Trading Representatives | ||||||||||||
| 2.5 | Trading Rights | |||||||||||
| 2.5.4 | Remote Trading Member not to execute Agency Trades for customers resident in Singapore | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.6 | Appointment and Registration of Chief Executive Officer | |||||||||||
| 2.6.1 | Trading Member to appoint a Chief Executive Officer to be registered with SGX-ST | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.6.2 | Remote Trading Member to appoint a Chief Executive Officer to be registered with SGX-ST | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.6.3 | Trading Member to notify SGX-ST at least seven days prior to the appointment of a Chief Executive Officer | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.7 | De-Registration of Chief Executive Officer | |||||||||||
| 2.7.1 | Trading Member to notify SGX-ST immediately upon trigger of CEO de-registration condition | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.8 | Appointment and Registration of Trading Representatives | |||||||||||
| 2.8.1 | Trading Member to register Trading Representatives with SGX-ST | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.8.3 | Trading Member to maintain records evidencing Trading Representative's satisfaction of the registration criteria in Rule 2.8.2 and provide all information that SGX-ST may require in the registration process | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.8.6 | Trading Representative may deal in securities or futures contracts on SGX-ST only upon his Trading Member being notified by SGX-ST that he or she has been entered into the Register of Trading Representatives. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. |
| 2.8.7 | Trading Representative to act for only one Trading Member | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. |
| 2.9 | De-Registration of Trading Representative | |||||||||||
| 2.9.1 | Trading Member to notify SGX-ST immediately upon trigger of Trading Representative de-registration condition | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.10 | Compliance | |||||||||||
| 2.10.1(a) | Trading Member to comply with the Rules | [Unless otherwise specified in this Schedule] | ||||||||||
| Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| Failure to continue to satisfy the admission criteria, any Approval Conditions, and any other conditions or restrictions imposed by SGX-ST from time to time | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | |
| 2.10.1(b) | Remote Trading Member to comply with principles of good business practice in relation to the areas covered by those Rules that have been expressed to not apply to Remote Trading Members | [Unless otherwise specified in this Schedule] | ||||||||||
| Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| 2.10.2 | Chief Executive Officer to comply with the Rules | [Unless otherwise specified in this Schedule] | ||||||||||
| Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. | ||
| 2.10.3 | Trading Representative to comply with the Rules and continue to satisfy the registration criteria and any conditions imposed by SGX-ST from time to time | [Unless otherwise specified in this Schedule] | ||||||||||
| Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | ||
| 2.11 | Payment | |||||||||||
| 2.11.1 | Trading Members, Chief Executive Officers and Trading Representatives to pay all fees, levies or charges | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | $250 | $500 | $1,000 | N.A. |
| 2.12 | Constitutional Documents | |||||||||||
| 2.12.1 | Trading Member to inform SGX-ST before any change to its Constitution or equivalent constitutional documents takes effect | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.13 | Business Name/Contact Details | |||||||||||
| 2.13.1 | Trading Member to inform SGX-ST before effecting any change in business name or contact details | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.13.2 | Trading Representative to inform his Trading Member in writing of any change in his/her contact details | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | $250 | $500 | $1,000 | N.A. |
| 2.13.3 | Trading Member to inform SGX-ST in writing of any change in its Trading Representatives' contact details | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | $250 | $500 | $1,000 | N.A. |
| 2.14 | Board of Directors | |||||||||||
| 2.14.1 | Trading Member to notify SGX-ST of change in composition of board of Directors | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.14.2 | Trading Member to appoint a Director of an SGX-listed company as a non-executive Director, but not as an executive Director | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.15 | Directorship of SGX-ST listed company | |||||||||||
| 2.15.1(a) | Chief Executive Officer or Trading Representative to inform SGX-ST of the proposed appointment in writing at least 14 days before the effective date of appointment | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. |
| 2.15.1(b) | Chief Executive Officer or Trading Representative to furnish SGX-ST at least seven days before the effective date of appointment an explanation of how conflicts of interest have been addressed and an undertaking to disclose to customers the directorship | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. |
| 2.15.1(c) | Trading Member to inform SGX-ST in writing at least seven days before the effective date of appointment that it is aware of the directorship and is satisfied that conflicts of interest have been sufficiently addressed | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.16 | Change in Control | |||||||||||
| 2.16.1 | Trading Member to inform SGX-ST of transaction that will result in a change in control | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.16.2 | Trading Member to comply with such conditions or restrictions as SGX-ST may impose in the event of a change in control | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||
| 2.17 | Other Businesses | |||||||||||
| 2.17.1 | Trading Member to inform SGX-ST before engaging in, or acquiring or holding any substantial shareholding in any other businesses | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.17.2 | Chief Executive Officer to give SGX-ST necessary notice before engaging in or holding substantial shareholdings in any other business that might potentially conflict with being a Chief Executive Officer | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.17.3 | Chief Executive Officer to ensure that his Trading Member agrees to the engagement or shareholding | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.17.4 | Engagement or shareholding not to breach the law, Rules or any applicable law or regulation | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.17.5 | Trading Member or Chief Executive Officer to supply SGX-ST with any information SGX-ST requires regarding engagement or acquisition or holding of shareholding | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.17.6 | Trading Member or Chief Executive Officer not to proceed with engagement or acquisition of shareholding if SGX-ST objects | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||
| 2.17.7 | Trading Member to satisfy any conditions and restrictions imposed by SGX-ST on any engagement or acquisition of shareholding end any engagement or shareholding if required to do so by SGX-ST | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||
| 2.17.8 | Trading Member or Chief Executive Officer to end an engagement or shareholding if required to do so by SGX-ST | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||
| 2.17.10 | Trading Member to have in place controls and processes to ensure that its Trading Representative do not engage in, or acquire or hold any substantial shareholding in, any other business that meet the criteria stated in this Rule 2.17.10. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.18 | Reporting of Adverse Events | |||||||||||
| 2.18.1 | Trading Member to report adverse events set out in this Rule 2.18.1 | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.18.2 | Trading Member to inform SGX-ST no later than one hour after discovery of a situation set out in Rule 2.18.1(h) | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.19 | Voluntary Liquidation | |||||||||||
| 2.19.1 | Trading Member not to commence voluntary liquidation without prior written approval of SGX-ST | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||
| 2.20 | Cessation of Trading Rights | |||||||||||
| 2.20.1 | Trading Member not to enter orders on organised markets if its rights to access such markets cease under the circumstances set out | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||
| 2.21 | Action against Defaulters | |||||||||||
| 2.21.2 | Failure to inform SGX-ST of act that may result in default | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||
| 2.22 | Suspension and Restriction of Activities | |||||||||||
| 2.22.1 | Trading Member, Chief Executive Officer and Trading Representative to comply with SGX-ST's restrictions and conditions on its activities | Not Compoundable | Not Compoundable | $10,000 | ||||||||
| 2.22.3(a) | Trading Member and its Trading Representatives must not enter into a new transaction without the approval of SGX-ST | Not Compoundable | Not Compoundable | $10,000 | ||||||||
| 2.22.3(b) | Trading Member and its Trading Representatives must not deliver on any transaction or settle any transaction without the approval of SGX-ST | Not Compoundable | Not Compoundable | $10,000 | ||||||||
| 2.22.5 | Trading Member to comply with the directions of SGX-ST | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||
| 2.25 | Voluntary Suspension of Business | |||||||||||
| 2.25.1 | Trading Member to recommence business upon expiry of permitted period of cessation specified by SGX-ST | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.25.2 | Trading Member not to hold itself out as an active Trading Member during period of cessation of business | Not Compoundable | Not Compoundable | N.A. | N.A. | N.A. | $10,000 | |||||
| 2.26 | Resignation | |||||||||||
| 2.26.1(a) | Trading Member to give necessary written notice of resignation | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.26.1(b) | Trading Member not to enter into a contract seven Market Days from date of notice of resignation without written approval of SGX-ST | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.26.1(c) | Trading Member to satisfy that it has taken, or will take, steps for the orderly winding down of its business with SGX-ST | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 2.26.1(d) | Trading Member to satisfy SGX-ST that it has fulfilled or is able to fulfil (i) its obligations to SGX-ST; and (ii) its obligations to all its customers as SGX-ST may specify | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
Added on 3 June 20193 June 2019.