Regulation 41
Supervision of participants
of Securities and Futures (Clearing Facilities) Regulations 2013
Subsidiary LegislationIn forceProvision 42 of 59
Regulation 41
A recognised clearing house shall —
(a)
take immediate action to terminate, suspend or restrict the access of a participant in Singapore to any clearing facility operated by the recognised clearing house —
(i)
where the participant is an entity licensed or authorised by the Authority, if the participant’s licence or authorisation is revoked by the Authority; or
(ii)
upon the direction of the Authority; and
(b)
within 14 days, or such longer period as the Authority may permit, after taking any disciplinary action against a participant in Singapore, notify the Authority of that disciplinary action.