Singapore legislation
Regulation 47
of Securities and Futures (Licensing and Conduct of Business) Regulations
Regulation 47
Trading standards
Subregulation 1
The holder of a capital markets services licence to deal in capital markets products, or a representative of such a holder, shall not withhold or withdraw from an organised market any order or any part of a customer’s order for the benefit of itself or himself, or of any other person.
Subregulation 2
The holder of a capital markets services licence to deal in capital markets products, or the representative of such a holder, shall not divulge information relating to a customer’s order held by it, unless the disclosure —
is necessary for the effective execution of the order;
is permitted under the rules of the relevant approved exchange, recognised market operator, approved clearing house or recognised clearing house, as the case may be; or
is required by the Authority under the Act or these Regulations.