Whole Section

  • 7.2 Application Procedures

    • 7.2.1

      To become a Trading Representative, an applicant must apply to SGX-ST in the form SGX-ST prescribes. The application must be supported by a Trading Member as his or her principal.

    • 7.2.2

      SGX-ST may, in its absolute discretion, approve or reject an application to be a Trading Representative. SGX-ST is not obliged to give any reasons.

    • 7.2.3

      In approving an application to be a Trading Representative, SGX-ST may consult the Relevant Regulatory Authority.

      Amended on 19 May 201419 May 2014.

    • 7.2.4

      Without derogating from Rule 7.2.2, SGX-ST may reject an application to be a Trading Representative if:—

      (1) the applicant does not provide information relating to the application as SGX-ST requires;
      (1A) any information or document that is furnished by the applicant to SGX-ST is false or misleading;
      (2) execution against the applicant in respect of a judgment debt has been returned unsatisfied in whole or in part;
      (3) the applicant has entered into an arrangement with his or her creditors that is still in operation, whether in or out of Singapore;
      (4) SGX-ST is not satisfied with the financial standing of the applicant;
      (5) the applicant breaches any provision involving fraud or dishonesty, whether in or out of Singapore;
      (6) the applicant has been convicted of an offence under the Securities and Futures Act or any other relevant applicable laws and regulatory requirements relating to the regulation of markets and licenced entities;
      (7) the applicant is the subject of an investigation involving an allegation of fraud or dishonesty, whether in or out of Singapore;
      (8) SGX-ST is not satisfied that he or she is a fit and proper person;
      (9) SGX-ST has reason to believe that the applicant may not perform the functions efficiently, honestly and fairly;
      (10) SGX-ST has reason to believe that the applicant may not act in the best interests of the Trading Member or the Trading Member's customers; or
      (11) in SGX-ST's opinion, it would be contrary to the interests of the public to register the applicant as a Trading Representative.

      Amended on 12 October 200512 October 2005 and 19 May 201419 May 2014.