Singapore legislation

Section 33

of Securities and Futures Act 2001

Section 33

General obligations

Amended by4/20174/2017

(1)

A recognised market operator must —

(a)

as far as is reasonably practicable, ensure that every organised market it operates is a fair, orderly and transparent organised market;

(b)

manage any risks associated with its business and operations prudently;

(c)

in discharging its obligations under this Act, not act contrary to the interests of the public, having particular regard to the interests of the investing public;

(d)

ensure that access for participation in its facilities is subject to criteria that are —

(i)

fair and objective; and

(ii)

designed to ensure the orderly functioning of its organised market and to protect the interests of the investing public;

(e)

maintain business rules and, where appropriate, listing rules that make satisfactory provision for —

(i)

the organised market to be operated in a fair, orderly and transparent manner; and

(ii)

the proper regulation and supervision of its members;

(f)

enforce compliance with its business rules and, where appropriate, its listing rules;

(g)

have sufficient financial, human and system resources —

(i)

to operate a fair, orderly and transparent organised market;

(ii)

to meet contingencies or disasters; and

(iii)

to provide adequate security arrangements;

(h)

maintain governance arrangements that are adequate for its organised market to be operated in a fair, orderly and transparent manner; and

(i)

ensure that it appoints or employs fit and proper persons as its chairperson, chief executive officer, directors and key management officers.

Amended by4/2017

(2)

In subsection (1)(g), “contingencies or disasters” includes technical disruptions occurring within automated systems.

Amended by4/2017
Section 33 — Securities and Futures Act 2001 | laws.sg