New Requirements for Trading 2017

With effect from 1st January 2012, the Monetary Authority of Singapore (MAS) will requires all financial institutions to ascertain whether their clients possess the necessary knowledge or experience on the features and risks of the products that they intend to trade through the prescribed Customer Knowledge Assessment / Customer Account Review (CKA/CAR).

The requirement will apply to all Specified Investment Products^ which SCM offers. This is done to safeguard your interests by confirming that you have the necessary knowledge or experience to trade in Specified Investment Products.

The satisfaction of Point 1 or 2 of the following criteria will enable access to all trading products available with SCM, otherwise alternative product profiles will be accorded depending on declared trading experience in Point 3:

1. Educational Qualifications

Diploma or higher qualification

Accountancy

Actuarial Science

Capital Markets

Commerce

Economics

Finance

Financial Engineering

Financial Planning

Computational Finance

Insurance or professional finance-related qualification

Business/Business Administration/Business Management/Business Studies

Or Professional Finance related qualifications

Chartered Institute of Securities & Investments

Chartered Alternative Investment Analyst

Certified Financial Technician

Finance Risk Management

Chartered Financial Consultant

Associate Financial Planner

Associate Wealth Planner

Certified financial Planner

Certified Public Account (CPA/ACCA)

Chartered Financial Analyst (CFA)

CMFAS Exam Modules 6/6A/7

2. Work Experience

In the past 10 years, a minimum of 3 continuous years of working experience* in any of the following areas. 

*Support functions in the areas mentioned below that are clerical in nature will not be considered as relevant experience

Development/Structuring of Investment Products

Management of Investment Products

Provision of training in Investment Products

Sale/Trading of Investment Products

Research/Analysis on or Analysis of Investment Products

Legal work experience in relevant financial areas

Work experience in Accountancy

Work experience in Financial Risk Management activities

Work experience in Treasury

3. Investment Experience

Made at least 6 transactions within the last 3 years in these categories of products.

Listed SIPs Unlisted SIPs
Listed ETFs/ Listed ETNs/ Futures/ Listed Options (e.g. Futures Options and Stock Options) Leveraged Forex/ Forwards/ OTC Options (e.g. Forex Options) CFDs

New clients would automatically be reviewed under the new requirements while existing clients would be contacted accordingly via email. For existing clients who have not received the email, please contact us at ckacar@saxomarkets.com.sg.

^ Specified investment products includes the following products: Futures contracts, Exchange Traded Options, ETFs, CFDs, FX Spot and FX options.

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