Green-X Corp. had been approved by the Labuan Financial Services Authority to establish
an Exchange under Part IX of the Labuan Financial Services and Securities Act 2010
(“LFSSA”),
pursuant to Section 134 of the LFSSA.
Green-X Corp. which is an exchange established under section 134 may make rules
which provide for—
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the conditions and administration of licences issued by such exchange and for
the regulation generally of
the conduct of trading agents and listing sponsors in connection with the
business of such exchange;
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the financial, accounting, record-keeping, disclosure and capital adequacy
requirements applicable to
trading agents and listing sponsors;
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the conditions under which securities may be listed for trading in the
securities market proposed to be
operated by such exchange;
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the conditions governing dealings in securities by trading agents and listing
sponsors;
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the class or classes of securities that may be dealt in by trading agents and
listing sponsors or listed
in such exchange;
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confidentiality with respect to information relating to the affairs of such
exchange and of any trading agent
or listing sponsor in connection with the business of such exchange;
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the arbitration of disputes arising out of or in connection with any securities
market operated by such exchange;
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the suspension of trading in and the delisting of any security listed on such
exchange;
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the carrying on of the business of such exchange with due regard to the
interests of the public;
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a fair and independent market for the listing and trading of securities; and
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such other matters as the exchange deems necessary or desirable for the proper
and efficient regulation,
management and control of such exchange and the securities market operated by
it.
Pursuant to Section 137 of LFSSA, Green-X shall have regulatory functions and shall—
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ensure that it adequately supervises the market operations and the conduct of
market participants;
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ensure the adequacy and efficiency of internal controls;
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ensure market participants follow capital adequacy rules;
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investigate misconduct or apparent misconduct by market participants and their
representatives that
could seriously affect investors or other participating organisations and
promptly report to the
Authority on these instances of misconduct;
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investigate possible market abuses, including insider dealing and fraudulent
behaviour; and
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take disciplinary measures or agree to a settlement after a public hearing.