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Important Information

Summary of Changes to the Investment Product Terms with effect from 01 May 2018

With effect from 01 May 2018, we will be amending our Investment Product Terms to include the following changes:

  1. Trades or transactions in respect of securities or futures contracts which are executed or completed by the Bank after 5 p.m. in Singapore shall be deemed as trades or transactions taking place on the next business day. This mode of timing shall also apply to the sending of contract notes.
  2. The Bank may terminate or suspend any account, or transfer, redeem, or sell the customer’s securities with 60 days’ prior notice, if the Bank reasonably believes that the customer is no longer permitted to hold such securities for the following reasons:
    1. certain FATCA representations or warranties made by the customer previously have changed, or appears likely to change based on the customer’s notifications;
    2. the investment was procured by way of misrepresentation or breach of warranty; or
    3. any of the representations or warranties given by the customer in connection with FATCA are untrue or outdated.
  3. For clarity, the customer expressly acknowledges that the Bank does not provide any tax advisory or tax reclamation services, and accordingly that the customer is responsible for any reporting or filing requirements that may apply as a result of the customer’s country of citizenship, domicile or tax residence.
  4. For clarity, for purposes of claiming relief under any double taxation agreement, the customer is responsible to submit such tax forms at the time of account opening and at the expiry of the earlier submission as required under US tax laws or as the Bank may specify, failing which the dividend income from such securities may attract the tax rates as specified by the US tax authorities.

Please click here for the full version of the updated Investment Product Terms with effect from 01 May 2018.

Should you require any further information or assistance, please do not hesitate to contact your relationship manager, or visit any of our branches. For information on the locations and opening hours of our branches, please visit https://sc.com/sg/atm-branch-locator.

It is our pleasure to serve you.