Expiry Date for Investors’ Status
Establishment of an Expiry Date with regard to Investors’ Status Change required by the Financial Instruments and Exchange Law
The Financial Instruments and Exchange Law (FIEL), introduced on 30 September 2007, coupled with other associated laws e.g., the Banking Law, calls for further enhancement on customer protection by the introduction of the Investors’ Status System which categorises customers into “professional investors” and “general investors.”Further customer protection is expected to be achieved by a newly introduced obligation by financial institutions to deliver documents explaining risks to general investors before making a contract.
The system allows investors to change their status from “professional” to “general” or from “general” to “professional” based on a request from investors with the Bank’s approval according to the type of a contract. As for the timeframe for a transfer from “general” to “professional”, Standard Chartered Bank would like to inform you that “30 November which arrives after an approval date within a year” is chosen as an expiry date regardless of our approval date.
Also, as for a transfer from “general” to “professional”, please note that a selected status will automatically be refixed to the original status (“general”) on and after the expiry date; therefore you are expected to apply for renewal if you wish to stay on as the selected status. However, investors are able to return to “general”, whenever investors request the Bank to do so.
On the other hand, as for a transfer from “professional” to “general”, there is no expiry date mentioned above. The status will remain in effect until investors request the Bank to change the status to “professional”.
Standard Chartered Bank