Singapore legislation
Clause 119
Clause 119
Dealings by officers or employees of licensed persons
(1)
The holder of a capital markets services licence shall not give any unsecured advance, unsecured loan or unsecured credit facility to any of its officers or employees or to a person who, to its knowledge, is a person associated with or connected to any of its officers or employees, if —
the unsecured advance, unsecured loan or unsecured credit facility is given for the purpose of enabling or assisting the person to whom the credit is given to purchase, subscribe for or trade in any capital markets products; or
the holder knows or has reason to believe that the unsecured advance, unsecured loan or unsecured credit facility will be used for the purpose of purchasing, subscribing for or trading in any capital markets products.
(2)
Subsection (1) is without prejudice to section 162 of the Companies Act (Cap. 50).