A sponsor or registered professional, who fails to comply with the Rules, may be charged before a disciplinary committee.
SGX will issue a written notice giving particulars of the charge to the sponsor or registered professional being charged. The sponsor or registered professional is invited to make a written submission in answer to the charge. The sponsor or registered professional may request to appear before the disciplinary committee at a date fixed for the hearing of the charge.
At the meeting, the disciplinary committee hears the charge and decides whether the sponsor or the registered professional has breached any Rule, and if so, decides on the appropriate penalty. The sponsor or registered professional may appeal to the appeals committee against the decision of the disciplinary committee. The appeals committee is a committee independent of the Exchange. The decision of the appeals committee is final.
A sponsor charged before a disciplinary committee may be subject to the following penalties:
Revocation of authorisation
Suspension of authorisation
Fine of up to $250,000
Restrictions or conditions on activities
Reprimand
Education program
A registered professional charged before a disciplinary committee may be subject to the following penalties:
