1.9 Responsible Individual Responsibility

1.9.1           A Responsible Individual shall be responsible for trading activity conducted under his ITM(s).

 

1.9.2           Where trading is also conducted, pursuant to the Trading Rules (Rule 7) by other individuals within the Trading Member under the ITM(s) of a Responsible Individual registered to the Trading Member, such trading and conduct shall be under the supervision of the relevant Responsible Individual.

 

1.9.3           Where access is granted by the Trading Member to Broking Members and, pursuant to Trading Rules (Rule 7), the Trading Member’s orders are submitted under an ITM assigned to a Responsible Individual, the submission shall be under the relevant Responsible Individual’s supervision.

 

1.9.4           Notwithstanding this Rule 1, no sanction shall be imposed on a Responsible Individual in respect of:

 

a.   conduct of, or trading activity conducted under his ITM(s), by an individual of the Member with whom that Responsible Individual is registered;

b.   conduct by a Member’s Representative placing orders under the ITM of that Responsible Individual; and

c.   conduct by a Member’s authorized Broker placing orders under the ITM of that Responsible Individual;

 

where it is established to the satisfaction of the Compliance Committee or other person or body determining the disciplinary matter (as referred to in Rule 1) that the Responsible Individual had taken all reasonable steps to prevent any conduct of the kind in question.

 

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