46. Review of Futures Exchanges’ disciplinary action
Feedback & supportWhere a Futures Exchange reprimands, fines, suspends, expels or otherwise takes disciplinary action against a member of the Exchange , it shall forthwith inform the Authority in writing of the name of the member, the reason for, and nature of, the action taken, the amount of any fine and the period of any suspension.
Futures Exchange
“Exchange” or “Futures Exchange” means —(a)the Singapore International Monetary Exchange Ltd.; or(b)a body corporate —(i)that provides or proposes to provide the physical facilities necessary for trading in futures contracts; and(ii)that maintains or proposes to maintain a futures market that is approved by the Authority under section 4;
The Authority may review any disciplinary action taken by a Futures Exchange under subsection (1) and may affirm, modify or set aside the decision of the Exchange after giving the member and the Exchange an opportunity to be heard.
Nothing in this section shall preclude the Authority, in any case where a Futures Exchange fails to act against a member, from itself suspending, expelling or otherwise disciplining a member of the Exchange , but before so doing the Authority shall give the member and the Exchange an opportunity to be heard.
Exchange
“Exchange” or “Futures Exchange” means —(a)the Singapore International Monetary Exchange Ltd.; or(b)a body corporate —(i)that provides or proposes to provide the physical facilities necessary for trading in futures contracts; and(ii)that maintains or proposes to maintain a futures market that is approved by the Authority under section 4;
Any person who is aggrieved by the decision of a Futures Exchange or the Authority under this section may, within one month after he is notified of the decision, appeal to the Minister whose decision shall be final.