Frequently Asked Questions

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Customer Account Review (CAR) & Customer Knowledge Assessment (CKA) Form

Customer Account Review (CAR) & Customer Knowledge Assessment (CKA) Form For all individuals who are not Accredited Investor or Expert Investor. In view of the requirements introduced by MAS for retail customers who wish to transact Specified Investment Products (SIPs), Phillip Securities Pte Ltd (PSPL) requires customers to update their profile to assess if they […]

Can retail customers who have previously been assessed to have relevant knowledge or experience in derivatives and/or unlisted SIPs (i.e. they passed the CAR and/or CKA) request for financial advice?

Retail customers who are assessed to have relevant knowledge or experience in derivatives and /or unlisted SIPs (i.e. passed the CAR and/or CKA) can request for financial advice through a separate arrangement with an authorised financial adviser.

If I have already gone through the CAR/ CKA with another broking firm, do I have to go through the assessment with Phillip Securities to trade SIPs?

Yes. You will have to complete the CAR or CKA assessment as long as you trade SIPs with Phillip Securities.

I already have an existing Phillip Securities account. Do I have to go through the CAR/ CKA assessment again if I open another account with Phillip Securities?

While you will only have to go through one CKA and CAR assessment for all the accounts opened with Phillip Securities, we may assess on a case-by-case basis whether you are required to do the assessment again.

What about joint account holders? Do both account holders have to complete the CAR/ CKA assessment?

Yes, both account holders have to complete the CAR or CKA assessment before trading Specified Investment Products.

If I did not pass the CAR, can I trade foreign shares that are classified as EIP?

Yes you can. Please take note that effective from 28 Feb 2013, all retail investors who wish to trade foreign shares, regardless of EIPs or SIPs, will have to acknowledge an additional Risk Warning Statement (RWS).

Who will be exempted from CAR/CKA?

The following segments are exempted from the new MAS requirements and do not have to undergo the Customer Account Review (CAR) & Customer Knowledge Assessment (CKA). 1. Accredited Investors as defined in Securities and Futures Act (Cap.289) section 4A 2. Expert Investors as defined in Securities and Futures Act (Cap.289) section 4A 3. Institutional Investors […]

Is there any cost attached to the CAR or CKA module and SGX Online Education on SIP?

There is no cost to you to complete both the assessment and SGX Online Education.

What is the validity period if I qualify for CKA and CAR?

After you are assessed to be qualified to trade SIPs, we will conduct CAR assessment once every 3 years for accounts that are trading in Listed SIPs, and CKA assessment once every year for accounts trading in Unlisted SIPs. If you trade in both Listed and Unlisted SIPs, we will conduct the review on an […]

How do I submit the CAR and CKA Assessment?

You may complete the CAR and CKA Assessment through one of the following ways: 1) Log in to your online trading account via POEMS 2.0 platform. Complete and submit the CAR and CKA Form by going to “Acct Mgmt” > “Stocks” > “CAR & CKA Form” > “Submit”. 2) Approach any Phillip Investor Centre or […]