The Rules Have Changed. But don’t worry, we are here to help you.

To further safeguard the interests of Singapore retail investors like you, effective 1 Jan 2012, Monetary Authority of Singapore (MAS) has introduced new measures that will apply to the trading of "Specified Investment Products" (SIPs). SIPs refer to investment products that may be more complex in nature and/or have features and risks that may be more difficult to understand.

As part of this new requirement, you will need to complete a “Customer Account Review” (CAR) declaration in order to trade listed SIPs. This is a very simple 4-question declaration and there are several ways you can do it:

1) Online via iOCBC trading platform (strongly recommended)
Simply log in to iOCBC trading platform using your userID and password and complete the CAR declaration online via the “SIP” tab. This is the simplest and fastest option.

2) Online via SGX online portal (click here for a step-by-step guide)
If you choose to complete the CAR declaration on SGX portal, you need to:

a. Choose OCBC Securities as your main brokerage partner

b. Inform your Trading Representative OR send an SMS to notify us that you have completed the online declaration, so that we can assess whether you can trade listed SIPs

SMS to 76999 <OSPL> space <NRIC no.> space <Full name>
 

For example, OSPL S1234567A Benjamin Foo Jianwei

3) Download, complete and mail us the CAR declaration form

Please note that you only need to submit your declaration ONCE, via any one (1) of the above methods.

The qualifying criteria are:

• Diploma or higher qualifications in accountancy, actuarial science, business/business administration/business management/business studies, capital markets, commerce, economics, finance, financial engineering, financial planning, computational finance and insurance; or
• Professional finance-related qualification. Examples include the Chartered Financial Analyst Examination conducted by the CFA Institute, USA and the Association of Chartered Certified Accountants (ACCA) Qualifications.

 

At least 6 transactions in listed SIPs in the preceding 3 years

Minimum of 3 consecutive years of working experience in the past 10 years in the development of, structuring of, management of, sale of, trading of, research on and analysis of investment products or the provision of training in investment products. Work experience in accountancy, actuarial science, treasury or financial risk management activities will also be considered relevant experience. Provision of legal advice or possession of legal expertise in the above areas would also qualify.

Updated: 10 Jan 2012

Disclaimer:

Trading in securities can be very risky, and the customer may lose all or more than the amount invested or deposited. This is particularly so when the customer needs to i) make his or her own trading decisions and ii) ensure each trade is specifically suitable for him or her – the only basis for any trading through or with OCBC Securities Private Limited (“OSPL”).  The information provided herein is intended for general circulation/discussion purposes only and may not be published or circulated (in whole/in part) without our written consent. It does not take into account the specific investment objectives, financial situation or particular needs (collectively “Objectives”) of any particular person. Please seek advice from an independent financial adviser regarding the suitability of any trade or investment product taking into account your Objectives before making a commitment to trade or purchase the investment product. If you choose not to seek independent financial advice, please consider whether the trade or product in question is suitable for you. This does not constitute an offer/solicitation to buy/sell/subscribe for any investment products or to participate in any particular trading or investment strategy. Any proposed transaction is subject to the final expression of the terms in the definitive agreement/confirmation. No representation or warranty whatsoever (including without limitation any representation or warranty as to accuracy, usefulness, adequacy, timeliness or completeness) in respect of any information (including without limitation any statement, figures, opinion, view or estimate) provided herein is given by OSPL and it should not be relied upon as such. OSPL does not undertake an obligation to update the information or to correct any inaccuracy that may become apparent at a later time. All information presented is subject to change without notice. OSPL shall not be responsible or liable for any loss or damage whatsoever arising directly/indirectly howsoever in connection with or as a result of any person acting on any information provided herein.   

Note:

There may be links or hyperlinks in this document which link you to websites of other third parties (the “Third Parties”).  OSPL hereby disclaims liability for any information, materials, products or services posted or offered on the web-site of the Third Parties. Further OSPL is not responsible for and makes no representations or warranties in respect of the Third Parties’ websites, nor in respect of any products, services or information provided by such Third Parties. OSPL shall not be responsible or liable for any damage, loss, liability, expense or other consequences suffered or incurred by you, including without limitation, direct, indirect, special or consequential damage or economic loss, arising from or in connection with your access to the Third Parties’ websites.