In forceAmended2020 Revised Edition

Contents

Securities and Futures Act 2001 · 2020 Revised Edition · Part 15 · Miscellaneous

334. Power of Authority to reprimand for misconduct

Amended

Last amended by an amending law of 2024. 4 amendments in all.

(1)

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

(1A)

The Authority may, under subsection (1), reprimand a person who has ceased to be a relevant person, if the person was a relevant person at the time of the misconduct.

(2)

In this section —

“misconduct” means —

(a)

the contravention of —

(i)

any provision of this Act;

(ii)

any condition or restriction imposed under this Act;

(iia)any direction made by the Authority under this Act;

(iii)

any code, guideline, policy statement or practice note issued under section 321; or

(iv)

any business rules of an approved exchange, a licensed trade repository or an approved clearing house, or the listing rules of an approved exchange;

(b)

the failure by an officer of a relevant person to discharge any duty or function of his or her office; or

(c)

the commission of an offence under section 331 or 332(1);

“officer” —

(a)

in relation to a body corporate, means a director, member of the committee of management, chief executive, manager, secretary or other similar officer of the body, and includes a person purporting to act in any such capacity; or

(b)

in relation to an unincorporated association (other than a partnership), means the president, the secretary, or a member of the committee of the association or a person holding a position analogous to that of president, secretary or member of a committee, and includes a person purporting to act in any such capacity;

“partner” includes a person purporting to act as a partner;

“relevant person” means —

(a)

an approved exchange;

(b)

a recognised market operator;

(c)

a licensed trade repository;

(d)

a licensed foreign trade repository;

(e)

an approved clearing house;

(f)

a recognised clearing house;

(g)

an approved holding company;

(h)

a holder of a capital markets services licence to carry on business in any regulated activity;

(i)

an exempt person;

(j)

an approved trustee mentioned in section 289;

(k)

an authorised benchmark administrator;

(l)

an exempt benchmark administrator;

(m)

an authorised benchmark submitter;

(n)

an exempt benchmark submitter;

(o)

a designated benchmark submitter; or

(p)

any employee, officer, partner or representative of any person mentioned in paragraphs (a), (b), (c), (d), (e), (f), (g), (h), (i), (j), (k), (l), (m), (n) and (o).

Terms defined in this Act

approved clearing house
Defined · s 2
“approved clearing house” means a corporation that is approved by the Authority under section 51(1)(a) as an approved clearing house;
Open s 2
approved exchange
Defined · s 2
“approved exchange” means a corporation that is approved by the Authority under section 9(1)(a) as an approved exchange;
Open s 2
approved holding company
Defined · s 2
“approved holding company” means a corporation that is approved by the Authority under section 81W as an approved holding company;
Open s 2
authorised benchmark administrator
Defined · s 2
“authorised benchmark administrator” means a corporation that is authorised by the Authority under section 123F(1) as an authorised benchmark administrator;
Open s 2
authorised benchmark submitter
Defined · s 2
“authorised benchmark submitter” means a corporation that is authorised by the Authority under section 123ZE(1) as an authorised benchmark submitter;
Open s 2
Authority
Defined · s 2
“Authority” means the Monetary Authority of Singapore established under the Monetary Authority of Singapore Act 1970;
Open s 2
business
Defined · s 46AAA
“business” includes affairs and property;
Open s 46AAA
capital markets services licence
Defined · s 2
“capital markets services licence” means a licence that is granted by the Authority under section 86 to a person to carry on a business in any regulated activity;
Open s 2
designated benchmark submitter
Defined · s 2
“designated benchmark submitter” means a corporation that is designated by the Authority under section 123ZI(1) to be a designated benchmark submitter;
Open s 2
director
Defined · s 2
“director” has the meaning given by section 4(1) of the Companies Act 1967;
Open s 2
exempt benchmark administrator
Defined · s 2
“exempt benchmark administrator” means a person who is exempted under section 123K(1) from the requirement to be an authorised benchmark administrator;
Open s 2
exempt benchmark submitter
Defined · s 2
“exempt benchmark submitter” means a person who is exempted under section 123ZH(1) from the requirement to be an authorised benchmark submitter;
Open s 2
exempt person
Defined · s 2
“exempt person” means a person who is exempted under section 99;
Open s 2
licensed foreign trade repository
Defined · s 2
“licensed foreign trade repository” means a corporation that has in force a foreign trade repository licence granted by the Authority under section 46E(2);
Open s 2
licensed trade repository
Defined · s 2
“licensed trade repository” means a corporation that has in force a trade repository licence granted by the Authority under section 46E(1);
Open s 2
manager
Defined · s 2
“manager”, in relation to a collective investment scheme, means a person, by whatever name called, who is responsible for managing the property of, or operating, the collective investment scheme;
Open s 2
member
Defined · s 2
“member”, in relation to an approved exchange, a recognised market operator, an approved clearing house or a recognised clearing house, means a person who holds membership of any class or description in the approved exchange, recognised market operator, approved clearing house or recognised clearing house, whether or not the person holds any share in the share capital of the approved exchange, recognised market operator, approved clearing house or recognised clearing house, as the case may be;
Open s 2
officer
Defined · s 2
“officer” has the meaning given by section 4(1) of the Companies Act 1967;
Open s 2
recognised clearing house
Defined · s 2
“recognised clearing house” means a corporation that is recognised by the Authority under section 51(1)(b) or (2) as a recognised clearing house;
Open s 2
recognised market operator
Defined · s 2
“recognised market operator” means a corporation that is recognised by the Authority under section 9(1)(b) or (2) as a recognised market operator;
Open s 2
regulated activity
Defined · s 2
“regulated activity” means an activity specified in the Second Schedule;
Open s 2

Report

Read on from s 335

Schedules

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