Securities and Futures Act 2001 · 2020 Revised Edition · Part 3 · Clearing Facilities
81. Obligation to maintain confidentiality
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Subject to subsection (2), a recognised clearing house and its officers and employees must maintain, and aid in maintaining, confidentiality of all user information that —
recognised clearing house
“recognised clearing house” means a corporation that is recognised by the Authority under section 51(1)(b) or (2) as a recognised clearing house;
comes to the knowledge of the recognised clearing house or any of its officers or employees; or
is in the possession of the recognised clearing house 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;
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 clearing house from entering into a written agreement with a user which obliges the recognised clearing house 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;