Securities and Futures Act 2001 · 2020 Revised Edition · Part 2 · Organised Markets
39. Obligation to maintain confidentiality
Feedback & supportLast amended by an amending law of 2017.
Subject to subsection (2), a recognised market operator and its officers and employees must maintain, and aid in maintaining, the confidentiality of all user information that —
recognised market operator
“recognised market operator” means a corporation that is recognised by the Authority under section 9(1)(b) or (2) as a recognised market operator;
comes to the knowledge of the recognised market operator or any of its officers or employees; or
is in the possession of the recognised market operator or any of its officers or employees.
Subsection (1) does not apply to —
the disclosure of user information for such purposes, or in such circumstances, as the Authority may prescribe by regulations made under section 44;
any disclosure of user information which is authorised by the Authority to be disclosed or provided; or
the disclosure of user information pursuant to any requirement imposed under any written law or order of court in Singapore.
To avoid doubt, nothing in this section is to be construed as preventing a recognised market operator from entering into a written agreement with a user that obliges the recognised market operator to maintain a higher degree of confidentiality than that specified in this section.
user
“user” means —(a)in relation to an approved exchange, a recognised market operator, an approved clearing house or a recognised clearing house, a person who is —(i)a member of the approved exchange, recognised market operator, approved clearing house or recognised clearing house, as the case may be; or(ii)a customer of a member of the approved exchange, recognised market operator, approved clearing house or recognised clearing house, as the case may be; or(b)in relation to a licensed trade repository or a licensed foreign trade repository, a person who is —(i)a participant of the licensed trade repository or licensed foreign trade repository; or(ii)a client of a participant of the licensed trade repository or licensed foreign trade repository;