Whole Section

  • 14.3A Composition by SGX-ST

    • 14.3A.1

      SGX-ST may make an offer of composition to a Trading Member, an Approved Executive Director or a Trading Representative who has breached any Rules. The terms of the offer of composition include payment of a specified sum to SGX-ST and may include the fulfillment of any accompanying terms that SGX-ST may prescribe.

      Added on 16 May 201116 May 2011.

    • 14.3A.2

      Upon payment of the specified sum and fulfillment of the accompanying terms within the stipulated time, no further proceedings shall be taken against that Trading Member, an Approved Executive Director or a Trading Representative for that Rule violation.

      Added on 16 May 201116 May 2011.

    • 14.3A.3

      Acceptance of the offer of composition by the Trading Member, an Approved Executive Director or a Trading Representative amounts to an admission of liability and the Trading Member, Approved Executive Director or Trading Representative will be deemed to have committed the conduct described in the charge.

      Added on 16 May 201116 May 2011.

    • 14.3A.4

      In respect of Rule violations which SGX-ST may offer composition, guidelines on the range of composition which SGX-ST may offer to a Trading Member, an Approved Executive Director or a Trading Representative who has committed a Rule violation are indicated in Schedule A.

      Added on 16 May 201116 May 2011.

    • 14.3A.5

      SGX-ST retains the discretion to offer composition to a Trading Member, an Approved Executive Director or a Trading Representative of an amount which is lower or higher than the guidelines, except that the amount of composition that SGX-ST may offer shall not exceed S$10,000 for each Rule violation.

      Added on 16 May 201116 May 2011.

    • 14.3A.6

      Notwithstanding that a Rule violation is indicated as being compoundable or may be compoundable under Schedule A, SGX-ST retains the discretion not to make an offer of composition to the Trading Member, an Approved Executive Director or a Trading Representative and instead, to charge the said Trading Member, an Approved Executive Director or a Trading Representative before the Disciplinary Committee.

      Added on 16 May 201116 May 2011.

    • 14.3A.7

      If SGX-ST has made an offer of composition, it will not commence disciplinary proceedings against a Trading Member, an Approved Executive Director or a Trading Representative until after the stipulated period for the offer lapses.

      Added on 16 May 201116 May 2011.

    • 14.3A.8

      For the purposes of determining whether a Rule violation is classified as a first, second, third or subsequent offence under Schedule A, only previous violations under the same Rule will be taken into consideration.

      Added on 16 May 201116 May 2011.