DRA-4.1.3
(a) Disciplinary action is an important activity for the SROs as the frontline regulators of members and listed companies, but it is not an end in itself. Its principal purpose is to change future behaviour by demonstrating that breaches of the business rules and listing rules will be identified and the sanction imposed will have a cost or adverse impact on the companies and individuals concerned; and
(b) Through disciplinary actions, the SRO shall seek to:
(i) Deter future breaches by conveying clear messages that certain conduct is unacceptable and will not be tolerated by the SRO and that there are consequences to follow from a rule breach;
(ii) Educate the market; and
(iii) Ultimately influence and bring about change of attitude and behaviour towards an enhanced compliance culture and improved corporate governance.
Amended: April 2020
Added: July 2010
Added: July 2010