Customer Account Review (CAR)

With effect from 1 January 2012, Singaporean retail investors interested in investing in certain investment products must provide some specific information about their qualifications, experience and/or their
knowledge of the products they intend to invest in to enable their broker to properly assess that they have the relevant knowledge or experience to understand the risks and features of the products they intend to continue trading in accordance with the criteria set down by the Monetary Authority of Singapore.

1) Do you hold a degree or diploma in economics, accounting, commerce, actuarial science, finance, financial engineering, financial planning, business studies/business management/business administration or similar?

2) Do you hold any professional finance-related qualifications (CFA, ACCA, or similar)?

3) Have you been employed or are you currently employed by a financial institution (3 consecutive years in the past 10 years), in the development of, sale of, trading of, analysis of investment products, or have work
experience in accountancy, actuarial science, treasury or financial risk management?

Like everything else in Singapore, there are penalties for lying when completing the Customer Account Review.

If you have not answered “Yes” to any of the three questions above, proceed to questions 4.

The questions below is a separate assessment to the trading experience questions already answered in the application process:

4) In the last 3 years please indicate your level of trading activity:

Shares (traded on stock exchanges other than in Singapore):
( ) Less than a total of 6 trades in the last 3 years
( ) More than a total of 6 trades in the last 3 years

Options (traded on the exchanges in the United States or any other international Stock Exchange):
( ) Less than a total of 6 trades in the last 3 years
( ) More than a total of 6 trades in the last 3 years

Futures:
( ) Less than a total of 6 trades in the last 3 years
( ) More than a total of 6 trades in the last 3 years

If you have answered ‘ Less than a total of 6 trades in the last 3 years’ for Futures, Shares or Options, then your broker will not be able to proceed with the opening of your trading account.

However, if you have answered ‘Less than a total of 6 trades in the last 3 years’ to any of the above products, but would still like to proceed with undertaking transactions in that product, you would need to:

register for, undergo and successfully complete the Online Education Programme 

offered by the Singapore Exchange, found at 

https://onlineeducation.sgx.com/specifiedinvestmentproducts/ 

and provide confirmation of the modules attended and successfully 

completed to your broker in order for them to proceed with opening your account.