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MAE-2.7.1

Past version: Effective from 01 Oct 2008 to 31 Mar 2013
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The obligation to maintain confidentiality shall not apply to the disclosure of user information by a licensed exchange or licensed market operator, or its officers or employees for the following purposes or in the following circumstances:

(a) The disclosure of user information is necessary for the making of a complaint or report under any law for an offence alleged or suspected to have been committed under such law;
(b) The disclosure of user information is permitted for such purpose specified in writing by the user or, where the user is deceased, by his appointed personal representative;
(c) The disclosure of user information is necessary for the execution by the licensed exchange or licensed market operator of a transaction in any securities or futures contracts or clearing or settlement of a transaction and such disclosure is made only to another user which is:
1. A party to the transaction; or
2. A member of a licensed exchange or licensed market operator, or a designated clearing house through which that transaction is executed, cleared or settled;
(d) The disclosure of user information is necessary:
1. In any disciplinary proceedings of the licensed exchange or licensed market operator, provided that reasonable steps are taken to ensure that user information disclosed to any third person is used strictly for the purpose for which the user information is disclosed; or
2. For the publication, in any form or manner, of the disciplinary proceedings and the outcome thereof;
(e) The user information disclosed is already in the public domain;
(f) The disclosure of user information is made in connection with:
1. The outsourcing or proposed outsourcing of any function of the licensed exchange or licensed market operator to a third party;
2. The engagement or potential engagement of a third party by the licensed exchange or licensed market operator to create, install or maintain systems of the licensed exchange or licensed market operator; or
3. The appointment or engagement of an auditor, a lawyer, a consultant or other professional by the licensed exchange or licensed market operator under a contract for service;
(g) The disclosure of user information is necessary in:
1. An application for a grant of probate or letters of administration or the resealing thereof in relation to the estate of a deceased user; or
2. The administration of the estate of a deceased user, including such disclosure as may be required for this purpose by the relevant authority; or
(h) The disclosure of user information is made in connection with:
1. In the case where the user is an individual, the bankruptcy of a user; or
2. In the case where the user is a body corporate, the winding up or receivership of a user.