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 […]

What is Customer Knowledge Assessment (CKA) and Customer Account Review (CAR)?

With effect from 1st January 2012, financial institutions such as broking firm, bank and financial advisors are required to assess if a client has relevant knowledge and experience before trading Specified Investment Products (SIPs). Retail customers who do not satisfy the assessment are not allowed to trade SIPs. These new MAS requirements apply to all […]

If I pass the Customer Account Review, can I trade foreign EIPs/SIPs shares without acknowledging the Risk Warning Statement?

You can still trade in EIPs and SIPs if you have passed the CAR. However, effective from 28 Feb 2013, all investors must acknowledge the RWS to trade Overseas-Listed Investment products.

Can I submit online trades on POEMS while my account GSA linkage is still pending approval with CDP?

For SG trades, your online orders with payment mode of Cash or SRS or CPF will be rejected with the message ‘Invalid GSA Linkage’. You can submit SG orders via POEMS once your account GSA linkage has been approved by CDP. For foreign market trades, you can submit online orders prior to GSA linkage approval […]

Can I go through SGX Online Education on SIPs even if I do not wish to invest or if my broker has assessed that I can already trade in SIPs?

Yes, you can. The SGX Online Education on “Specified Investment Products” offers you a basic understanding of the features and risks on the products. Important Note: Remember to list Phillip Securities as your main brokerage partner when you complete the online declaration for Customer Account Review (CAR) found in SGX website. This will allow Phillip […]

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 […]

What happens if I do not meet any of the assessment criteria?

If you do not meet any of the CAR & CKA assessment criteria, you may sit for the online E-learning module: I) For Listed SIPs: If you fail the online CAR Assessment, please complete the SGX Online Education on listed SIP and inform your Trading Representative upon your completion of the course; Remember to list […]