Singapore legislation
Clause 37
Clause 37
Amendment of section 70
Section 70 of the principal Act is amended —
by inserting, immediately after the words “futures contract” in subsection (2)(e), the words “, foreign exchange trading or leveraged foreign exchange trading”;
by inserting, immediately after the words “futures contracts” in subsection (2)(f), the words “or leveraged foreign exchange transactions”;
by inserting, immediately after paragraph (i) or subsection (2), the following paragraphs:“(ia)providing for the establishment and regulation of any electronic system by a Futures Exchange, whether by itself or in conjunction with other futures exchanges, and for the imposition and variation of such requirements, conditions or restrictions as the Authority may think fit;
(ib)the manner in which a holder of a licence conducts its dealings with its customers, conflicts of interest involving the holder of a licence and its customers, and the duties of a holder of a licence to its customers when making recommendations with respect to trading in futures contracts or leveraged foreign exchange trading;”; and
by inserting, immediately after the words “futures contracts” in subsection (4)(a)(ii), the word “or engage in leveraged foreign exchange trading”.