1.8 Member Responsibility

1.8.1           In this Rule 1 (General Rules), “conduct” means any act, omission, conduct or behavior in relation to the Rules.


1.8.2           For the purposes of determining a Member’s liability to be sanctioned for any conduct (referred to in this Rule 1 as a “disciplinary matter”) (which shall include act or omission), a Member shall be responsible for:


a.   all conduct of that Member’s Representatives;

b.   all conduct by a Member’s client when placing orders under the ITM of a Responsible Individual registered to that Member, as if that conduct were the conduct of the Member itself.


For the avoidance of doubt, all conduct referred to in (a) and (b) shall, for the purposes of this Rule be attributed to that Member and be treated as the conduct of that Member.


1.8.3           The provisions of this Rule 1 shall apply:


a.   without prejudice to the liability of any other person subject to the Rules for the same conduct;

b.   in the case of inconsistency with any other provision of the Rules, in priority to that other provision;

c.   whether or not the Member’s Representative is a person subject to the Rules;

d.   whether or not the Member and/or Member’s Representative is/are exercising rights to use the Exchange’s facilities; and

e.   whether or not a Member’s individual Representative can be conclusively identified (provided that it is established that the relevant conduct was in fact carried out by a Member’s Representative, albeit an unidentified Member’s Representative).


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