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 retail clients, including

  • Non-residents with Singapore addresses
  • Both parties of Joint Account holders

You will have to complete:

  • the "Customer Account Review" if you wish to continue to trade SIP that is listed on an exchange; and
  • the "Customer Knowledge Assessment" if you wish to purchase an Unlisted SIP

From 10 December 2018, overseas investors will be required to undergo the required Customer Account Review (“CAR”) and/or Customer Knowledge Assessment (“CKA”) before trading Specified Investment Products (“SIPs”).

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