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Obligation to notify Authority of certain matters

Securities and Futures (Trade Repositories) Regulations 2013

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For the purposes of section 46ZD(c)(i) of the Act, a licensed foreign trade repository shall, as soon as practicable after the occurrence of any of the following circumstances, give the Authority notice of such circumstance:(a)any civil or criminal legal proceeding instituted against the licensed foreign trade repository, whether in Singapore or elsewhere, which may have a material impact on the operations or finances of the licensed foreign trade repository;(b)any disciplinary action taken against the licensed foreign trade repository by any regulatory authority, whether in Singapore or elsewhere, other than the Authority;(c)any change to the regulatory requirements imposed on the licensed foreign trade repository by any regulatory authority, whether in Singapore or elsewhere, other than the Authority, that will have a material impact on the licensed foreign trade repository;(d)any material disruption of or delay in, or any suspension or termination of any systems relating to, the reporting of transactions to and through the licensed foreign trade repository in its capacity as a licensed foreign trade repository, including those resulting from any system failure;(e)the licensed foreign trade repository becoming aware of any acquisition or disposal by any person of a substantial shareholding in the licensed foreign trade repository;(f)the licensed foreign trade repository becomes aware of any development (including any development in relation to any associate of the licensed foreign trade repository, or any other entity treated as part of the licensed foreign trade repository’s group of companies according to the accounting standards applicable to the licensed foreign trade repository) that has occurred or is likely to occur which the licensed foreign trade repository has reasonable grounds to believe has materially and adversely affected, or is likely to materially and adversely affect —(i)the financial soundness or reputation of the licensed foreign trade repository; or(ii)the licensed foreign trade repository’s ability to conduct its business;(g)the licensed foreign trade repository becomes aware that its chairperson, chief executive officer or director is, in accordance with the Guidelines on Fit and Proper Criteria, no longer fit and proper to hold that office or appointment.

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