2.10 Responsible Individuals

2.10.1           A Member shall not enter orders into or make trades on the Cleartrade Platform except through a Responsible Individual registered with the Exchange pursuant to the Trading Procedures. At least one individual shall be registered by a Member as a Responsible Individual pursuant to Rule 7 (Trading).

 

2.10.2           A Member must ensure it has sufficient number of Responsible Individuals for the nature and scale of business being conducted.

 

2.10.3           A Responsible Individual whose registration is suspended by the Exchange under the Rules, shall remain subject to the Rules and to the jurisdiction of the Exchange under the Rules in respect of acts and omissions of the individual while he was registered as a Responsible Individual, and in respect of any investigation or disciplinary proceedings relating thereto, whether commenced before or after his suspension, (including the payment of any fine or application of any other sanction imposed) as if he were still registered, for the longer of:

a.   the period of 12 months from the date on which the registration was suspended; or

b.   the period during which disciplinary proceedings continue against him, being proceedings started by the Exchange no later than 12 months after the date on which his registration was suspended, subject to any extension of the period under Rule 2 below.

 

2.10.4           Disciplinary proceedings commenced following suspension of a Responsible Individual’s registration may be commenced by giving notice of an investigation to that individual no later than 12 months after the date on which his registration was suspended.

 

2.10.5           In the event that the Compliance Committee concludes that there are, or may be, additional matters which should be investigated and in respect of which disciplinary proceedings may be taken, the period referred to in Rule 2 shall be extended until such time as such additional disciplinary proceedings are completed (including the payment of any fine or application of any other sanction imposed).

 

2.10.6           A Member may terminate the registration of a Responsible Individual by giving to the Exchange notice in writing of intention to de-register the Responsible Individual with effect from the date specified in the notice.

 

2.10.7           A Responsible Individual who is de-registered shall remain subject to the Rules and to the jurisdiction of the Exchange in respect of acts and omissions of the individual while he was registered as a Responsible Individual, and in respect of any investigation or disciplinary proceedings relating thereto (including the payment of any fine or application of any other sanction imposed) as if were still registered, for the longer of:

a.   the period of 12 months from the date on which the de-registration became effective; or

b.   the period during which disciplinary proceedings continue against him, being proceedings started by the Exchange no later than 12 months after the date on which his de-registration became effective, subject to any extension of the period under Rule 2 below.

 

2.10.8           Disciplinary proceedings commenced following a Responsible Individual’s de-registration may be commenced by giving notice of an investigation to that individual no later than 12 months after the date on which the de-registration became effective.

 

2.10.9           In the event that the Compliance Committee concludes that there are, or may be, additional matters which should be investigated and in respect of which disciplinary proceedings may be taken, the period referred to in Rule 2 shall be extended until such time as such additional disciplinary proceedings are completed (including the payment of any fine or application of any other sanction imposed).

 

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