Singapore legislation

Clause 97

Power to reprimand for misconduct

(1)

Where the Authority is satisfied that a relevant person is guilty of misconduct, the Authority may, if it thinks it necessary in the public interest or for the protection of investors or policy owners, reprimand the relevant person.

(2)

In this section —

Definition

“misconduct” means —

(a)

the contravention of —

(i)

any provision of this Act;

(ii)

any condition or restriction of a licence or an exemption granted under this Act; or

(iii)

any code, guideline, policy statement or practice note issued or published under section 64; or

(b)

in the case of an officer of a licensed financial adviser or an exempt financial adviser, the failure to discharge any duty or function of his office;

Definition

“relevant person” means any licensee, exempt financial adviser, representative of an exempt financial adviser, or officer of a licensed financial adviser or an exempt financial adviser.

Read in full context — Financial Advisers Bill →