Prohibition of use of certain titles
57.—(1)  No person other than a Commodity Futures Exchange or clearing house shall —
(a)take or use the title “Commodity Futures Exchange” or “clearing house”; or
(b)take or use, or have attached to or exhibited at any place, any title which resembles the titles specified in paragraph (a) or so closely resembles such titles as to be calculated to deceive.
(2)  A person who is not a commodity broker, commodity futures broker, commodity trading adviser, commodity futures trading adviser, commodity pool operator or commodity futures pool operator shall not —
(a)take or use the title or description “commodity broker”, “commodity futures broker”, “spot commodity broker”, “commodity trading adviser”, “commodity futures trading adviser”, “commodity pool operator”, “commodity futures pool operator” or “spot commodity pool operator”; or
[22/2001 wef 27/06/2001]
(b)take or use, or have attached to or exhibited at any place, any title or description that resembles the titles specified in paragraph (a) or so closely resembles such titles as to be calculated to deceive.
[22/2001 wef 27/06/2001]
(3)  Any person who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 and, in the case of a continuing offence, to a further fine of $2,000 for every day during which the offence continues after conviction.
(4)  Nothing in this section shall operate to prevent any person from —
(a)taking or using the title “Futures Exchange” or “clearing house” in accordance with section 65 of the Futures Trading Act [Cap. 116]; or
(b)taking or using the title or description of “futures broker”, “futures trading adviser” or “futures pool operator” in accordance with section 65 of the Futures Trading Act.
(5)  Nothing in section 65 of the Futures Trading Act shall operate to prevent any person from —
(a)taking or using the title “Commodity Futures Exchange” or “clearing house” in accordance with subsection (1); or
(b)taking or using the title “commodity futures broker”, “commodity futures trading adviser” or “commodity futures pool operator” in accordance with subsection (2).