Effective 1 January 2012, the MAS requires financial institutions to assess whether a retail investor has the relevant knowledge or experience to understand the risks and features of a Listed Specified Investment Product (SIP) before that product is offered to them.
You are assessed to be eligible to transact in Listed SIPs when you fulfil any one of the three criteria based on your educational qualifications, working experience and/or investment experience. As such, it is important that you answer these questions accurately during the online application process.
The CAR criteria will also be met if you have previously completed the SGX Online Education within the past 3 years, and scored above 75% for the assessment. You should also not have been refused on four occasions by other financial institutions to open a trading account.
Listed SIPs available on our platform include ETFs. You may refer to the MAS Notice SFA 04-N12 on the Sale of Investment Products for more information on the Customer Account Review ("CAR") criteria.
If you do not meet the CAR criteria, you can still qualify for all securities by completing the SGX Online Education for listed SIPs.
Alternatively, you can still proceed in opening a Syfe Trade account which has access to all instruments available on our platform, excluding some ETFs which are more complex in nature.