New Requirements for Trading 2018
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
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 email@example.com.