Client code modification limited to genuine-entry errors, allowed under strict criteria with penalties and inspection triggers. Modifications of client codes for non-institutional trades are allowed only to correct genuine entry errors; exchanges permitting such modifications must adopt strict objective criteria approved by their Governing Board, disclose them, monitor trading members' compliance, and include modifications in internal audits. Exchanges must levy penalties-credited to the Investor Protection Fund-based on the ratio of modified non-institutional turnover to total non-institutional turnover, with a lower penalty at or below five percent and a higher penalty above five percent. If the ratio exceeds one percent in a month, the exchange shall conduct a special inspection and may take disciplinary action.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Client code modification limited to genuine-entry errors, allowed under strict criteria with penalties and inspection triggers.
Modifications of client codes for non-institutional trades are allowed only to correct genuine entry errors; exchanges permitting such modifications must adopt strict objective criteria approved by their Governing Board, disclose them, monitor trading members' compliance, and include modifications in internal audits. Exchanges must levy penalties-credited to the Investor Protection Fund-based on the ratio of modified non-institutional turnover to total non-institutional turnover, with a lower penalty at or below five percent and a higher penalty above five percent. If the ratio exceeds one percent in a month, the exchange shall conduct a special inspection and may take disciplinary action.
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