Singapore legislation

Regulation 17

of Securities and Futures (Corporate Governance of Approved Exchanges, Approved Clearing Houses, Licensed Trade Repositories and Approved Holding Companies) Regulations 2024

Regulation 17

Executive officers

A regulated institution must not appoint any person as its executive officer while that person is concurrently —

(a)

employed by a substantial shareholder of the regulated institution, other than a substantial shareholder that is also —

(i)

a regulated institution of which the firstmentioned regulated institution is a subsidiary; or

(ii)

an approved holding company of the firstmentioned regulated institution;

(b)

an executive officer of a subsidiary or an associated corporation of the regulated institution;

(c)

in the case where the regulated institution is a subsidiary of another regulated institution (X), employed by a substantial shareholder of X, or a subsidiary or an associated corporation of the substantial shareholder of X; or

(d)

where the regulated institution is a subsidiary of an approved holding company (Y), employed by a substantial shareholder of Y, or a subsidiary or an associated corporation of the substantial shareholder of Y.

Read in full context — Securities and Futures (Corporate Governance of Approved Exchanges, Approved Clearing Houses, Licensed Trade Repositories and Approved Holding Companies) Regulations 2024 →