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FAQ

Reclassification of Overseas-Listed Investment Products (OLIPs) to Excluded Investment Products (EIPs) FAQ

  • 01. What is the Risk Warning Statement (“RWS”) for OLIPs about?

    As there are risks associated with trading / transacting in foreign counters that may not exist or are different than if they were instead listed for trading in Singapore, RWS highlights the key risks that customers should be aware of before trading in overseas listed investment products.

    Under the MAS’ Notice on the Sale of Investment Products [SFA04-N12], we are required to provide Clients with a prescribed RWS for OLIPs. For avoidance of doubt, nothing in the risk disclosure is intended to imply, and shall not be implied, as giving rise to any duty on our part to provide any advice or advisory service.

    A copy of the RWS can be found here.

  • 02. How will the reclassification of non-complex Overseas-Listed Investment Products as EIPs affect me?

    From 4th January 2013 clients may start to trade the OLIPs now classified as EIPs after the submission of Risk Warning Statement (RWS).

    All hard copy RWS acknowledged should reach LTS by 27th February 2013. Online acknowledgement of the RWS must also be completed by the same date.

    All clients who have not acknowledged the RWS will not be able to trade these OLIPs reclassified as EIPs from 28th February 2013.

  • 03. How do I acknowledge the Risk Warning Statement (“RWS”)?

    If you are trading foreign markets for the first time and have never traded the below mentioned foreign markets via the LTS Online Trading system, please click here for the RWS. Once completed, please email this to your Trading Representative.

    If you have traded NYSE, NASDAQ, NYSE American (formerly AMEX), HKSE, SH-HK or Bursa via the LTS Online Trading system, an RWS pop up screen would have appeared for you to complete when a foreign EIP counter is clicked for trading for the first time (from 4th January 2013 onwards). Once completed, you would be deemed to have acknowledged the RWS.

    Please read the contents of the RWS before acknowledging.

  • 04. If I have already submitted the RWS to another financial institution, do I need to resubmit to LTS?

    Yes. You will need to complete and submit the LTS’ RWS by 28th February 2013.

  • 05. If I’m currently qualified to trade SIP Overseas-Listed Investment Products, do I still need to sign and return the RWS acknowledgement?

    Yes. All clients trading OLIPs (reclassified as EIPs or otherwise) are required to sign and return a copy of the RWS to LTS by 28th February 2013.

  • 06. How do I know if an OLIP is an EIP?

    EIPs and SIPs counters are indicated for the following foreign markets traded online: SH-HK, HKSE, NYSE, NASDAQ, NYSE American (formerly AMEX) and BURSA. In the “Ind” column, an @ sign represents SIP and a blank represents EIP.

    Illustration: