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  • DRA-4.1.5 DRA-4.1.5

    The Disciplinary Committee must be constituted by a resolution of the Board of the SRO. The constitution and membership of the Disciplinary Committee must be approved by the CBB. The Disciplinary Committee must be independent and separate from the SRO's executive management structure, consisting of a minimum of three members and must not have a member who is, or who within three years of the proposed appointment date was, a director, officer or employee of the SRO or a related corporation of the SRO.

    Amended: April 2020
    Added: July 2010

    • DRA-4.1.5A

      The Disciplinary Committee members must comprise of persons with qualification in the area of law, finance, accounts, economics, management or administration and experience in financial services, including the securities market or any other relevant field. At least one member of the Disciplinary Committee must be legally qualified.

      Added: April 2020

    • DRA-4.1.5B

      Prior to appointing a person as a member of the Disciplinary Committee, the SRO must obtain and assess the following information:

      (a) a declaration that the person has not been involved in any act of fraud, dishonesty or found guilty of any economic or other offence excluding minor traffic offence;
      (b) a declaration that the person has not been disqualified by a court, regulator or other competent body; and
      (c) disclosure regarding the nature of association with securities market including names of family members (spouse, father, mother, sons, daughters, brothers or sisters) associated with securities market.
      Added: April 2020