Security, Privacy and Policies

Protecting your information and money has always been our priority mission. This section provides you with our privacy policies and shares with you useful information about online security. It also gives you tips on protecting yourself from fraud.
Security Policy
Safeguarding your Internet Trading Access
Spyware and Adware
Security Tips on Email and Other New Threats
Standard Terms and Conditions
Data Protection Policy
Accessing Third Party Sites
Statement on Fair Dealing
Best Execution Practices
Providing Feedback
Foreign Account Tax Compliance Act (FATCA)
Common Reporting Standard (CRS)
Anti-Money Laundering
Trading Rules, Limitations and Risks of Internet Trading
Prohibited Trading Practices
Dispute resolution
  • Security Policy
    At OCBC Securities Private Limited (“OSPL”), we are committed to protecting the security and confidentiality of your personal information so as to provide you with a safe and secure online environment. Our website uses commercially proven security hardware and software products. These security products include routers, firewalls, intrusion detection systems and secure operating system to safeguard your interest.

    Industry standard Secure Socket Layer (SSL) communication protocol is the de facto cryptographic standard that we use for securing data communication between the browser and our website. Digital certificate technology is used to ensure transaction Privacy, message integrity and server-side authentication. This also serves as an assurance that the website runs legitimately under the care of OCBC Securities.

    All connections must pass through at least one router and one firewall to gain access to the server. The firewall checks for the appropriate source address and restricts unauthorised access to the appropriate server.

    Additional technical security features include Verisign digital certificates, 128-bit encryption, oneway hashing of all user passwords and automatic logoff after a certain period (currently 2 hours). OCBC Securities' Online Trading is regularly reviewed and audited by external and internal auditors to ensure that your interest is safeguarded.

    Apart from the security measures put in place by OCBC Securities, you play an equally important role in ensuring your online security and account information is not compromised.

    You should adopt the following recommended practices in protecting the security of your system:

    • Do not share your user ID or password with anyone.

    • Do not display your account information in a manner that is visible to others and your PC should never be left unattended. For your protection, OCBC Securities Trading will automatically terminate your session if there is no activity for a period of time.

    • Always use the recommended browser. All browsers and application software should be upgraded to support SSL 128-bit encryption.

    • Always check that our website address changes from http:// to https:// and a security icon, usually in the form of a lock or key, appears when authentication and encryption is expected.
  • Safeguarding your internet trading access
    At OCBC Securities, we have implemented measures to safeguard your account information. However, to ensure that your online security and account information are not compromised, we recommend that you adopt the following OCBC Securities Online Trading security guidelines:

    1. Before entering your User ID and Password, you should always ensure that the website you are visiting belongs to OCBC Securities. This can be verified by the URL displayed in your browser as well as the OSPL’s name in its digital certificate. This precaution will ensure that you are not revealing your OCBC Securities Online Trading Account Number and Password to a website other than OCBC Securities.

    2. To ensure that you enjoy the highest level of security possible, all browsers and application software should be upgraded to support SSL 128-bit encryption or a higher encryption standard with the most updated security features available.

    3. It is important to protect yourself against any forms of online theft of your User ID and Password. Each valid User ID and Password identifies you uniquely as one of our valued customers. Only authorised users are allowed to log in to our secured Online Trading portal.

    Important tips on how you can safeguard and protect your account information.

    (a) Password has to be at least 8 characters and has to be alphanumeric. For added security, your password cannot contain repeated characters.
    (b) Password should not be based on guessable information such as user-id, personal telephone number, birthday or any other personal information.
    (c) Password must be kept confidential and not be divulged to anyone.
    (d) Password must be memorised and not be recorded anywhere.
    (e) Password must be changed regularly, or when there is any suspicion that it has been compromised or impaired.
    (f) The same Password should not be used for different websites, applications or services, particularly when they relate to different entities.
    (g) Please do not select the browser option for storing or retaining user name and password.
    (h) Please check the authenticity of OSPL's website by comparing the URL and observing the OSPL's name in its digital certificate or by observing the indicators provided by an extended validation certificate.
    (i) Please check that the OSPL's website address changes from http:// to https:// and a security icon that looks like a lock or key appears when authentication and encryption is expected.
    (j) Please do not allow anyone to keep, use or tamper with your One-time Password security token.
    (k) Please do not reveal the OTP (One Time Password) generated by the security token to anyone.
    (l) Please do not divulge the serial number of your security token to anyone.
    (m) Please check your account and transactions frequently and report any discrepancy.
    (n) Please inform OSPL immediately on the loss of your mobile phones or change in your mobile phone numbers.
    4. Please install anti-virus, anti-spyware and firewall software in your mobile phones and personal computers, particularly when you are linked via broadband connections, digital subscriber lines or cable modems.

    5. Please update the anti-virus and firewall products with security patches or newer versions on a regular basis.

    6. Please remove file and printer sharing in your computers, especially when you have internet access via cable modems, broadband connections or similar set-ups.

    7. Make regular backup of critical data.

    8. Consider the use of encryption technology to protect highly sensitive or confidential information.

    9. Log off the online session and turn off the computer when not in use.

    10. Clear browser cache after the online session.

    11. Do not install software or run programs of unknown origin.

    12. Delete junk or chain emails.

    13. Do not open email attachments from strangers.

    14. Do not disclose personal, financial or credit card information to little known or suspect websites.

    15. Do not use a computer or device which cannot be trusted.

    16. Do not use public or internet cafe computers to access online trading platform or perform trades.

    17. You are advised not to access OCBC Securities Online Trading using 'jailbroken' or 'rooted' mobile devices (ie the phone Operating System has been tampered with) , as it poses potential risk of malicious software infection.

    18. You are advised to only download the Mobile Trading application from authorised sources such as Apple App Store and Google Play Store.

    19. If you are using the mobile phone SMS token to generate the One-time password for your Online Trading access, you are advised to notify OSPL in the event of lost/theft of your mobile device and if you suspect there is unauthorized access to your account.

    20. If you notice any unusual/unauthorised transactions, please change your Password and notify us immediately. It is important that you inform us immediately by calling our Customer Service Hotlines at 1-800-338-8688.

    21. Your usage of OCBC Securities Online Trading is subject at all times to the Terms and Conditions found on our website (www.iOCBC.com). You should therefore read carefully and adhere to the recommended security practices. OCBC Securities is not responsible for any loss or damage in connection to the use of OCBC Securities Online Trading services unless such loss is attributable to our negligence or wilful default.

    22. As a user OCBC Securities Online Trading, you have the right to (1) suspend your Online Trading access immediately should you suspect any unusual activity and/or unauthorised access, (2) terminate this service, (3) request for a new set of OCBC Online Password and (4) obtain information from the OCBC Securities regarding your online transactions.

    23. OSPL does not make unsolicited requests for your personal information through e-mail or on phone unless you have initiated the contact. We will under no circumstances ask you to reveal your Password.

    24. You are advised to always be on the alert for phony websites and suspicious emails purporting to be from OSPL. If you are aware of or have received such communication, please report immediately by contacting us.
  • Spyware and Adware
    What is Spyware?

    Spyware is software that gathers user information while on the Internet and reports them to third parties. Adware is a form of Spyware used by marketers to track Internet user’s surfing habits and interests for the purpose of customising future advertising material. Adware can monitor information such as the type of sites visited, nature of articles read or the types of pop-ups and
    banners a user clicks on. This information collected is then used to customise future advertisements targeted to the user or can be sold to a third party for the same purpose.

    Spyware and Adware not only slows down the system performance of a computer, it also uses memory and system resources and can cause system crashes and instability. Such programs may also have the ability to monitor keystrokes, scan files on your hard drive, change the default home page of your browser, and relay information about your web visits to unauthorised/disreputable third parties who can potentially manipulate the information.

    Hence, Spyware and Adware programs are considered as potential forms of identity theft as they have the ability to invade your online privacy by gaining access to your passwords, PINs, credit card details and other personal transaction information.

    Security Tips on Spyware and Adware

    OCBC treats online security with utmost importance and issues this security alert on Spywares and Adwares so that you will be better informed on how to protect yourself when using the Internet.

    Recent news on Spywares reported that some companies are promising faster internet access if the user channels his web communication through these companies' servers and/or installs special programs onto their computer. In doing so, these companies are provided with opportunities to monitor your web behaviour. Some of these companies are even able to decrypt, thus exposing your online communication including encrypted information containing confidential details such as usernames, passwords, account particulars - keyed in even at secured websites!

    At OCBC Securities, we are committed to provide the highest level of security to our customers. Hence, we strongly advise that you do not access OCBC Securities Online Trading through such web services or have any such dubious computer software installed in your computer, which can be malicious.

    How can you protect yourself?

    There are products available that can help you detect, monitor and remove Spyware from your computer. Many complete computer security software suites now come with a standard feature for Spyware detection and removal.

    With the proper precautions, you can help protect your OCBC Securities trading accounts and personal information from harmful programs:

    1. Be wary of banners, ads and pop-ups while surfing the Internet. Refrain from clicking on them no matter how enticing they may appear.

    2. Avoid downloading programs and email attachments from unknown sources. Downloads may contain hidden programs that can compromise your computer’s security. Also, never download or open email attachments from unknown senders.

    3. Keep your computer operating system and Web browser current. If your computer is more than five years old, its operating system (e.g. Windows 98, OS 7 etc.) may not offer the same level of protection as newer systems. System manufacturers such as Microsoft and Apple provide frequent updates to help make your system more secure. You may check out their websites:
    http://www.microsoft.com/security or http://www.apple.com/support/security/

    4. Install and update your computer with the latest anti-virus software. Commercially available virus protection software helps reduce the risk of contracting computer viruses that can compromise your security. These programs offer the protection against the latest threats – provided you continuously keep the program updated.

    5. Install up-to-date anti Spyware program to regularly scan your computer, locate, quarantine and delete any Spyware/ Adware in your computer Review terms and conditions when you install free programs or subscribe to services from the Internet.

    6. Recommended Password Management

    OCBC Securities Online Trading Password must be kept confidential at all times and not be divulged to anyone

    (a) Change your OCBC Securities Online Trading Password on a regular basis
    (b) Password should not be based on username, personal telephone number, birthday or other personal information
    (c) Password must be memorised and not be recorded anywhere

    The same password should not be used for different websites, applications or services, particularly when they relate to different entities.
  • Security tips on email and other new threats
    With email emerging as an increasingly important communication tool, it is critical to take precautionary measures against cyber frauds.

    Be wary of :
    (a) any false email address, logo or graphic designed to mislead you into accepting the validity of any email or website;
    (b) any fake domain name which appears to be an OCBC Securities website or the website of any other financial institution
    (c) any hyperlink to any fake website;
    (d) any embedded form in any email;
    (e) any other technique or method designed to mislead you or trick you into providing personal details, such as your OCBC Securities Online Trading User ID or password, or any other sensitive information or downloading a virus.

    Never access OCBC Securities Online Trading from a link in an email.

    You should personally enter the domain name of OCBC Securities (currently only www.iocbc.com) into your browser when logging onto OCBC Securities Online Trading. You should not accept links or redirections from websites (other than the websites of the OCBC Bank Group) or media for the purpose of logging onto OCBC Securities Online Trading website.

    Never reveal your password to anyone. OCBC Securities will never request for your password for any reasons.

    Be aware of Phishing. Phishing is the term coined by hackers who imitate legitimate companies in emails to entice people to share passwords or credit card numbers. Before entering your usernames or passwords, you should always ensure that the website you are visiting belongs to OCBC Securities. This can be verified by the URL displayed in your browser as well as the name
    of OCBC Securities in its digital certificate. This precaution will ensure that you are not revealing your OCBC Securities Online Trading User ID or passwords to a website other than OCBC Securities.

    Always check that our website address changes from http:// to https:// and a security icon, usually in the form of a lock or key, appears when authentication and encryption is expected. Double click on the "Padlock" or "Key" and a new window will pop-up. This Certificate will ensure the authenticity of the website.

    Ensure the following on the Certificate:
    (a) The Certificate is issued to www.iocbc.com
    (b) The Certificate is issued by Verisign
    (c) The Certificate has a valid date
    (d) You are encouraged to delete junk mail, chain mail or any other unsolicited email. Do not open email attachments from strangers.

    If you discover or believe that there are fraudulent e-mails, fake websites or other scams directed at you or any other customers of OCBC Securities, please notify OCBC Securities immediately at 1800 338 8688.
  • Standard Terms and Conditions

    We wish to inform you that the OCBC Securities Standard Trading Terms and Conditions (the “T&Cs”) which govern your account(s) with us have been revised.

    You may access a copy of the revised T&Cs here. If you wish to have a hard copy of the revised T&Cs for your record, you may obtain it from your Trading Representative or call our Customer Service hotline at 1800 338 8688 (if you are calling from within Singapore) or +65 6338 8688 (if you are calling from overseas).

    The revised T&Cs will take effect from 24 April 2020 (the “Effective Date”). Should you transact or continue to transact any securities transactions with us or use or continue to use any of our services on or after the Effective Date, you shall be deemed to have read, understood and agreed to the revised T&Cs.

    For further questions, please contact your Trading Representative or our Customer Service Officer at above hotline number.

    Your obligations and responsibilities

    Your use of OCBC Securities Online Trading is governed by the OCBC Securities Standard Trading Terms and Conditions. It is important that you clearly understand your obligations and responsibilities before using OCBC Securities' website at www.iocbc.com

    As a user of OCBC Securities Online Trading service, you are to:

    (a) comply with the standards and procedures established by OCBC Securities from time to time;
    (b) take all reasonable precautions; and
    (c) observe with extreme care all security measures when accessing your online accounts or carrying out online transactions.

    You will note that that under the said terms and conditions, you will remain liable for all instructions made through the use of your User ID and Password, whether or not authorised by you. OCBC Securities will not be liable for acting upon such instructions in good faith nor shall OCBC Securities be obliged to investigate the authenticity of such instructions.

    You will also note that OCBC Securities shall not be liable to you in the following circumstances:

    (a) Failure on the part of the customer to adhere to the said terms and conditions
    (b) Failure to follow recommended security measures prescribed in 'Safeguarding your Internet Trading Access', found in previous tab above.
    (c) Failure on the part of OCBC Securities to act on instructions of the Customer as a result of anything beyond OCBC Securities' control. This includes, amongst other things, any machine, equipment, system or software failing to work, failure to act by any third party and any act, omission or delay of any agent or third party. If any loss or damage results directly from OCBC Securities' security breach, gross negligence, wilful default or fraud then, OCBC Securities will be liable to the Customer, and not to any third party, for the amount of any such loss or damage. However, OCBC Securities will not be liable to the Customer for any loss of business, loss of reputation, loss of opportunity, loss of profits any type of special, consequential.

  • Data Protection Policy

    INTRODUCTION

    We understand how important your Personal Data is to you. We want to help you make informed decisions about your Personal Data. This means we must be clear and transparent about how your Personal Data is collected, used and disclosed by us. Please also be assured that we have security measures to keep your personal data secure.

    1.   What is Personal Data?

    Personal Data is any data about an individual that can identify the individual, or that can identify the individual when combined with other information which we have or are likely to have access to.

    The Personal Data you provide us may differ depending on the OSPL products and services that you use and how you interact with us. Examples of Personal Data include:

    • your name;
    • your government-issued identification number (e.g. NRIC, passport);
    • your contact information (e.g. phone number, email address);
    • your banking and financial details; and
    • information about other individuals that you provide to us.

    2.  
    How we collect your Personal Data

    We will only collect your Personal Data in a lawful manner and when we have a valid reason to do so. Examples of how we collect Personal Data include:

    • when you use our electronic and digital services, applications and automated systems, and when you visit our websites:
    • when you interact with us “offline”, such as when you speak with our customer service officers, agents and relationship managers, and when you attend our events.

    3.  
    How we use your Personal Data

    Examples of how we may use your Personal Data include:

    • verifying your identity;
    • responding to your complaints, queries and feedback;
    • improving our products and services;
    • managing our day-to-day business and administrative operations;
    • complying with laws and legal obligations, and our internal policies;
    • conducting checks to prevent and detect crime, and for risk management purposes; and
    • contacting you about services or products that you might be interested in (e.g. via voice calls and text messages).

    Please refer to our full Data Protection Policy for details.

    4.   How we disclose your Personal Data

    We take the disclosure of your Personal Data seriously and will only share it – in a responsible manner – with selected persons and organisations. For example, we may share your Personal Data with:

    • OSPL’s related corporations and their respective employees;
    • selected persons and organisations who work with us in Singapore and elsewhere (such as our outsourced partners and vendors); and
    • relevant government authorities and law enforcement agencies.

    5.  
    Contact Us

    Please contact us at GP_Compliance@ocbcsec.com if you have any questions about our Data Protection Policy.

    For more details, please refer to our Data Protection Policy.

     

    Data Protection Policy - Personal Data Protection Act

    Effective: 1 April 2022

     

    The purpose of this document (“Data Protection Policy”) is to inform you of how OCBC Securities Private Limited, and their respective representatives and agents (“Representatives”) collectively referred to as "OSPL", "us", "we" or "our") collect, use and disclose Personal Data.

    We may update or change this Data Protection Policy by publishing the latest version of our Data Protection Policy on our website (www.iocbc.com). This is to ensure that our Data Protection Policy conforms with future developments, industry trends, and changes in legal or regulatory requirements. We may inform you of changes in how we process your personal data through appropriate means, such as by posting a notice, or sending you an SMS or email.


    1.     Personal Data


    1.1   In this Data Protection Policy, “Personal Data” refers to any data, whether true or not, about an individual who can be identified (a) from that data; or (b) from that data and other information to which we have or are likely to have access.

    1.2   The Personal Data you provide to us depends on the nature of your interaction with us, and the OSPL products and services that you use. Some examples of Personal Data include:

    • your full name;
    • NRIC, passport or other identification number;
    • contact details such as telephone number(s), mailing address, email address;
    • your location;
    • customer information (e.g. biometric data);
    • account numbers and transactional data; and
    • information relating to any individuals which you provide to us.
    2.     Collection of Personal Data

    2.1   We will only collect your Personal Data in a lawful manner and when we have a valid reason to do so. Generally, we collect your Personal Data in the following ways:
    • when you submit any form, including application, declaration, proposal or referral forms;
    • when you enter into any agreement, provide other documentation or information relating to your interactions and transactions with us, or when you use our services;
    • when you interact with us (including customer service officers, agents and relationship managers, and our automated systems for example, via telephone calls (which may be recorded), letters, online chat, fax, face-to-face meetings and email);
    • when you are within our premises, or attend events hosted by us (including your images, photographs and videos);
    • when you use services provided through our online and other technology platforms, such as websites and apps, including when you set up any online accounts with us;
    • when you ask us to contact you, include you in an email or other mailing list, or participate in our promotions and other marketing initiatives;
    • when you respond to our marketing representatives and agents and other service providers;
    • when you send an employment application, provide documents or information (such as your resume) in connection with any appointment as an officer, director, representative or to any other position, or when you attend interviews with us;
    • when you interact with us via our websites and platforms, or use services on our websites and platforms;
    • where allowed under applicable law, when we seek information about you regarding your relationship with us (including for banking products, insurance policies or job applications) and receive your Personal Data (for example, from business partners, public agencies, your ex-employers and the relevant third parties);
    • when you respond to a request from us for additional Personal Data;
    • from third party sources to which you have given your consent (such as our ecosystem partners) or if collection of your Personal Data complies with applicable data protection laws;
    • when you use our Electronic Services, such as iOCBC Online Trading system. For more information, refer to the OSPL General Terms and Conditions | Electronic Trading Services;
    • when you use our mobile and digital applications (“Digital Services”). These Digital Services include STACK and HealthPass by OSPL and;
    • when you give us consent to collect it from your mobile device (e.g. location information)
    • when we receive your Personal Data from business partners, public agencies, your employer or other third parties
    • when you register for our events or promotions; and
    • when you send your Personal Data to us for any other reason.

     

    2.2   When you browse or use our website and platforms, we may collect information about you. Please see the section below on “Use of Cookies and Related Technologies” for more information.

    2.3   If you provide us with any Personal Data of a third party (e.g. information on your customers, spouse, children, parents, and/or employees), you represent that, by sending such information to us, you have obtained the consent of such third party for you to provide us with their Personal Data for the respective purposes.

    2.4    You should ensure that all Personal Data sent to us is complete, accurate, true and correct. Failure on your part to do so may prevent us from providing you with products and services you have asked for. 

    3.     Purposes for the Collection, Use and Disclosure of Your Personal Data

    3.1   It is important that we are transparent in how your Personal Data is used, so that you can trust us with it. Generally, OSPL collects, uses and discloses your Personal Data for the following purposes:
    • responding to, processing and handling your complaints, queries, requests, feedback and suggestions;
    • establishing and verifying your identity;
    • managing our administrative and business operations;
    • facilitating corporate restructuring processes and business asset transactions (which may extend to any mergers, acquisitions or asset sales) involving any of the Companies;
    • matching any Personal Data which relates to you for any of the purposes listed in this policy;
    • requesting feedback or participation in surveys, conducting market research or analysis for statistical, profiling, or other similar purposes. These other purposes include the development, design and improvement of our products and services, and the understanding of customer behaviour, preferences, and market trends;
    • preventing, detecting, and investigating crime (including fraud and money-laundering or terrorist financing);
    • analysing and managing commercial risks;
    • managing the safety and security of our premises and services (including carrying out CCTV surveillance, implementing safe distancing measures and conducting security clearances);
    • project management;
    • providing media announcements and responses;
    • marketing offers and promotions in relation to products and services (including co-branded products and services and organising promotional events);
    • in connection with any claims, actions or proceedings (including drafting and reviewing documents, transaction documentation, obtaining legal advice, and facilitating dispute resolution), and in protecting and enforcing our contractual and legal rights and obligations;
    • managing and preparing internal and external reporting;
    • training our employees to provide better products and services to you;
    • to determine service levels;
    • meeting or complying with any applicable rules, laws, regulations, codes of practice or guidelines issued by any legal or regulatory bodies which are binding on us, or which we have been advised, recommended or informed that we are expected to comply with (including disclosures to regulatory bodies, conducting audit checks, surveillance and investigation, and due diligence), internal policies, assisting law enforcement or investigations by relevant authorities, and complying with listing and other requirements or directions of the Singapore Exchange Limited and/or any other relevant securities exchange;
    • for contract tracing, deployment of safe management measures and other response measures that are necessary in the event of an emergency, such as during the COVID-19 outbreak; and
    • any other purpose relating to or reasonably necessary for any of the above.

    These purposes may also apply even if you do not maintain any account(s) with us, or have terminated these account(s).

    3.2   In addition, OSPL collects, uses and discloses your Personal Data for the following additional purposes which vary depending on the nature of our relationship.

    (a) Prospective Customers

    • evaluating your financial and banking needs and providing recommendations to you;
    • assessing and processing any applications or requests made by you for products and services offered by OSPL; and
    • any other purpose relating to or reasonably necessary for any of the above.

    (b) Customers, Private Investors, Beneficial Owners, Guarantors, Security Providers, or Appointed Representatives (including a Mandate Holder or a Power of Attorney)
    • opening, maintaining, or closing of your accounts, and establishing or providing trading services to you;
    • if an account or relationship manager, or agent has been assigned to service your account or portfolio, using your telephone number to contact you in order to take your instructions, and provide you with information, updates, or recommendations per the terms and conditions of our agreement with you;
    • facilitating the continuation or termination of the trading relationship, the daily operations of product and services (including but limited to facilitating securities trades, capital markets transactions and corporate actions);
    • providing client servicing (including but not limited to responding to requests by customers, advisory services, providing mailing, reporting, and reconciliation services, investigating discrepancies, errors or claims, and providing customer satisfaction);
    • carrying out client reviews (for example, annual reviews of your portfolio);
    • to establish your financial situation, risk profile, investment experience and investment goals, to help you consider the suitability of the products you have invested or intend to invest;
    • providing Electronic Services;
    • ensuring the ongoing credit worthiness of customers;
    • administering exceptional approvals, fee adjustments or waivers;
    • providing custody services;
    • customer outreach and relationship management;
    • meeting or complying with any applicable rules, laws, regulations, codes of practice or guidelines issued by any legal or regulatory bodies which are binding on us, or which we have been advised, recommended or informed that we are expected to comply with (including but not limited to disclosures to regulatory bodies, conducting audit checks, surveillance and investigation, and customer due diligence);
    • archival management (including warehouse storage and retrievals);
    • administering and facilitating any offer of or other transactions dealing with securities, derivatives or other instruments or investments, and the execution of such transactions on a trading system or platform;
    • facilitating financing and investment arrangements (including processing your instructions for depositing or withdrawing collaterals and executing the payment and withdrawal of securities);
    • facilitating payments and other related transactions (including processing the payments of dividends, sales proceeds and assets and monies movements);
    • classifying and identifying accredited investors ;
    • organising educational seminars for customers ;
    • enforcement of repayment obligations ;
    • processing insurance claims; and/or
    • any other purpose relating to or reasonably necessary for any of the above.
    (c)  Employees, Agents or Owners of a Referrer or other similar intermediaries
    • marketing and leads management;
    • processing commissions and remuneration; and
    • any other purpose relating to or reasonably necessary for any of the above.
    (d) Employees, officers or owners of an external service provider or vendor outsourced or prospected by OSPL, or an independent contractor
    • managing project tenders or the supply of goods and services;
    • processing and payment of vendor invoices; and
    • any other purpose relating to or reasonably necessary for any of the above.
    (e) Parties or counterparties to a transaction (for example, a beneficiary of a share transfer or a beneficiary of a fund transfer or the party making payment on behalf of an account holder)
    • carrying out our customer’s instructions
    • providing cash, payment and transactional services (including the execution, settlement, reporting and/or clearing of the relevant transaction); and
    • any other purpose relating to or reasonably necessary for any of the above.
    (f)   Persons who apply for positions with us

    This paragraph applies to candidates who send in applications for employment, or representative positions, and independent contractors, interns and trainees who apply for (or put forward for) positions with us.

    • conducting interviews;
    • processing your application which includes pre-recruitment or pre-engagement checks involving your qualifications and facilitating interviews;
    • providing or obtaining employee references and for background screening;
    • assessing and evaluating your suitability for employment or engagement in any current or prospective position;
    • processing staff referrals;
    • verifying your identity and the accuracy of your personal details and other information provided; and
    • any other purposes relating to any of the above.
    (g) Employees, representative, independent contractors, temporary staff, interns and trainees of OSPL.

    This paragraph applies to all persons engaged in a contract of service or contract for service with us (such as independent contractors), and interns and trainees attached to us.

    The purposes listed below apply to you during the course of your relationship with us and may continue to apply even when your relationship with us has terminated or altered in any way.

    • performing obligations under or in connection with your contract of employment or relationship with us, such as payment of remuneration and tax;
    • reviewing salaries, remuneration and bonuses, conducting salary benchmarking reviews, staff appraisals and evaluation, as well as recognising individuals for their services and conferring awards;
    • assessing and evaluating your suitability for employment or appointment, or continued employment or employment in any position in OSPL, and conducting appraisals and evaluations;
    • administrative, human resources related and support processes relating to your employment or relationship with us, including managing and terminating your employment or appointment, staff benefits (including travel, manpower, business continuity and logistical management or support), processing expense claims, administering insurance applications, leave administration, training, learning and talent development, resolving grievances, and planning and organising corporate events;
    • investigating any acts or defaults (or suspected acts or defaults), or contraventions of our internal or external compliance obligations;
    • providing you with tools and facilities to enable or facilitate the performance of your duties, and monitoring your use of such tools and facilities;
    • ensuring business continuity, including compiling and publishing internal directories and emergency contact lists;
    • to understand risks in our workplaces, and ensure the safety, health and welfare of persons in our workplaces;
    • managing corporate social responsibility projects;
    • conducting analytics and research for human resource planning and management, and for us to review, and develop work-related practices, environment and productivity;
    • ensuring that OSPL’s operations function in a secure, efficient and effective manner (including examining or monitoring any computer software and hardware installed within OSPL, your activities on such computer software and hardware, your internet access, your work emails and personal digital and storage devices);
    • performing obligations in connection with the provision of our goods or services to our clients;
    • contract tracing, operationalising safe management measures and other necessary measures in the event of an emergency, such as during the COVID-19 outbreak;
    • administering cessation processes; and
    • any other purposes relating to any of the above.
    (h) OSPL Board of Directors:
    • facilitating appointment to the Board (including managing the publication of directors' statistics on annual reports and circulars);
    • administrative matters (including the maintenance of statutory registers and lodgement of directors' fee);
    • managing insurance programmes; and
    • any other purpose relating to or reasonably necessary for any of the above.
    (i)   Users of Digital Services
    • to provide, personalise, facilitate, and improve your use of our Digital Services. These Digital Services and their respective data protection policies are listed below:
    • to allow you to authenticate and verify your identity;
    • to market OSPL and our ecosystem partners’ services, events and products; and
    • any other purpose relating to or reasonably necessary for any of the above.
    (j)   Users with multiple relationships with OSPL

    This paragraph applies if you have multiple relationships with us (for example, if you use our Digital Services and Electronic Services).

    • Combining your Personal data with other personal data in our possession; and
    • Linking the Personal Data collected across your various relationships with OSPL to facilitate your use of our various products and services.

    3.3   Additional Purposes:

    Where allowed under applicable law, we may also collect, use and disclose your Personal Data for the following purposes (which we may describe in our documents and agreements as "Additional Purposes" for the handling of Personal Data).

    • providing or marketing services, products and benefits to you (including promotions, loyalty and reward programmes) through various channels including direct marketing, voice calls and phone number-based text messaging;
    • matching Personal Data with other data collected for other purposes and from other sources (including from our related corporations, business partners and third parties) in connection with the customisation, provision, improvement or offering of products, services, marketing or promotions, whether by OSPL or other third parties;
    • administering contests and competitions,
    • personalising your experience at our various touchpoints, including our branches;
    • sending you information about products, services, special offers and rewards, either to our customers generally, or which we have found to be of interest to you; and
    • developing and enhancing existing and future products and services through testing, research, and analysis (including analysing behaviour, needs, preferences, location and demographics), and market offer and provide those products and services to you.
    3.4   If you have indicated that you consent to receiving marketing or promotional information at your Singapore telephone number, then OSPL may contact you at your Singapore telephone number (including via voice calls and text-based messaging) with information about our products and services.

    3.5   In relation to particular products or services or in your interactions with us, we may also have specifically notified you of other purposes for which we collect, use or disclose your Personal Data. If so, we will collect, use and disclose your Personal Data for these purposes as well.


    4. 
        Disclosure of Personal Data

    4.1   We take the disclosure of your Personal Data seriously and will only share your Personal Data with selected persons and organisations in a responsible manner. Your Personal Data may be disclosed for the purposes listed above (where applicable) to the following entities or parties, whether they are located overseas or in Singapore:
    • OSPL's related corporations, their respective employees, and our Representatives;
    • any person or organisation providing electronic or other services to us, such as trading services utilised by the Customer;
    • counterparties and their respective banks in relation to fund transfers, share transfer, payments, drawing of cheques, and other transactions;
    • companies providing services relating to insurance and reinsurance to OSPL;
    • any person or organisation (including agents, contractors, and third party service providers) to whom we outsource certain operational functions or activities, such as courier services, telecommunications, information technology, payment, payroll, processing, training, market research, storage, archival, customer support investigation services or other services to OSPL;
    • vendors or other third party service providers in connection with marketing promotions and services offered by OSPL;
    • analytics, search engine providers or other third party service providers that help us deliver, improve and optimise our products, services, websites and platforms.
    • credit reporting agencies;
    • any business partner, investor, assignee or transferee (actual or prospective) to facilitate business asset transactions (which may extend to any merger, acquisition or any debt or asset sale) involving any of the Companies;
    • other banks, financial institutions, credit agencies, credit card companies and their respective service providers in relation to payment and other related transactions;
    • third party referrers;
    • our co-brand, ecosystem partners and other business partners;
    • our professional advisers such as our auditors and lawyers;
    • relevant government regulators, ministries, statutory boards or authorities, law enforcement agencies and public officers, whether local or overseas, including the Monetary Authority of Singapore, the Accounting and Corporate Regulatory Authority, the Singapore Police Force, and the Insolvency and Public Trustee Office, to comply with any directions, laws, rules, guidelines and regulations or schemes issued or administered by any of them, as well as to comply with listing and other requirements or directions of Singapore Exchange Limited and/or any other relevant securities exchange
    • hotels, travel agents and foreign embassies in relation to overseas travel arrangements for staff;
    • the Central Provident Fund Board and its agent banks in relation to CPF investment products, payment schemes and processing excess payment refunds;
    • brokerage houses, Central Depository (Pte) Limited, fund houses, registrars, custodians, nominee banks, external banks and investment vehicles in relation to asset management and investment product settlement processing;
    • Credit Counselling Singapore, and collection and repossession agencies in relation to the enforcement of repayment obligations for loans and other credit facilities;
    • foreign embassies and foreign credit reporting agencies in relation to credit reviews and the enforcement of repayment obligations for loans and other credit facilities;
    • external business and charity partners in relation to corporate promotional events;
    • commercial shops and retailers in relation to providing staff welfare benefits;
    • any swap repository, trade data repository, reporting agent, clearing house, centralised clearing party (including any clearing member of such clearing house or centralised clearing party), clearing broker, multilateral or other trading facility, system or platform or such other communication network or auction facility;
    • relevant stock exchanges
    • local and foreign brokerage houses, fund houses, registrars, custodians, external banks, clearing houses and other investment vehicles in relation to asset management and investment product processing;
    • any other party to whom you authorise us to disclose your information or Personal Data to; and
    • any person, corporation, firm, partnership, limited partnership, limited liability partnership, society, association, trade union, institution or other business concern, whether local or foreign, where reasonably necessary for the relevant purposes.

    5.
         Retention of Personal Data

    5.1   Your personal data will be retained if a purpose for which it was collected remain reasonable and for other legal or business purposes for which retention of your personal data may be necessary.

    6.     Other Bases for Handling or Processing your Personal Data

    6.1   In addition to the consents you have provided to our collection, use and disclosure of your Personal Data, where permitted by applicable law, OSPL may also collect, use and disclose your Personal Data without consent

    (a) for our legitimate interests or a third party, such as:
    • improving anti-money laundering and financial crime risk management;
    • detection and prevention of fraud, financial crime, and other illegal activities;
    • detection of threats to safety and security (including IT and network security);
    • prevention of misuse of products and services;
    • performing credit analysis and other necessary due diligence checks; and
    (b) to improve the Companies’ products, services, processes or business, understand your preferences, and personalise experiences and recommendations (regardless of whether you are an existing or prospective customer of any of the Companies).

    7.     Use of Cookies and Related Technologies

    7.1   Our websites and platforms use cookies, web beacons and other technologies. Cookies are small text files that a web server sends to a web browser, and which is stored by a browser, computing or other electronic devices. Your browser or device stores cookies, and the next time you visit our website or platform, your browser will read the cookie and relay the information back to the website, platform or element that originally set the cookie. Depending on the type of cookie it is, cookies may store user preferences and other information.

    7.2   Web beacons (also known as pixel tags and clear GIFs) involve graphics that are easily visible to you. Our websites or platforms may also use tracking links and similar technologies, which consist of a few lines of programming code. We may use web beacons in conjunction with cookies. This technology can also be used for tracking traffic patterns on websites and platforms, as well as finding out if an e-mail has been received and opened and to see if there has been any response.

    7.3   We may employ cookies, web beacons and other technologies for the following purposes:

    • when it is necessary to run our websites and platforms, such as identifying you when you log in and navigate our websites and platforms, and determine your login status;
    • customising our website, personalising content for you, and understanding and remembering your interests and preferences;
    • enhancing, analysing and optimising the use, effectiveness and performance of our website and platforms;
    • displaying advertising that is as relevant to you as possible and understanding the effectiveness of our advertisements; and
    • collating information on a user’s browsing history on OSPL’s websites and platforms.
    7.4   Some cookies we use are from third party service providers that provide us with web analytics and intelligence about our websites and platforms. These companies collect information about your interaction with our websites and platforms. We use such information to compile statistics about visitors who interact with the websites, platforms and other OSPL online content, to gauge the effectiveness of our communications, and to provide more pertinent information to our visitors. For more information, please refer to the following links:

    7.5   If you do not agree to such use of cookies, you may delete or disable the cookies associated with our websites and platforms by changing the settings on your browser accordingly. However, you may not be able to enter certain part(s) of our websites or platforms. This may also affect your user experience while on our websites or platforms. Unless you have adjusted your browser settings to block cookies, our system will issue cookies when you visit our websites or platforms, or click on a link in a targeted email that we have sent you, even if you have previously deleted our cookies.

    7.6   The ways in which you may manage cookies depend on your web browser. The following links supply information on how to configure or disable cookies in some web browsers:

    8.     Data Security

    8.1   OSPL will take reasonable efforts to protect Personal Data in our possession or under our control by making reasonable security arrangements to prevent unauthorised access, collection, use, disclosure, copying, modification, disposal or similar risks. However, we cannot completely guarantee the security of any of your Personal Data, or that for example no harmful code (such as viruses, bugs, trojan horses, spyware or adware) will enter our websites. You should be aware of the risks associated with using websites.

    8.2   While we strive to protect your Personal Data, we cannot ensure the security of the information you send to us via the Internet, when you use our Electronic Banking Services and Digital Services. We urge you to take every precaution to protect your Personal Data when you use such platforms. For tips on ways you can secure your personal data, please refer to the sections on Security Policy, Safeguarding your Internet Trading Access, Spyware and Adware, and Security Tips on Email and Other New Threats


    9.
         Third-Party Sites

    9.1   Our website may contain links to other third party websites. We are not responsible for the privacy practices of such websites. We encourage you to learn about the privacy policies of such third party websites. Some of these third party websites may be co-branded with our logo or trademark, even though they are not operated or maintained by us. Once you have left our website, you should check the applicable privacy policy of the third party website to determine how they will handle any information they collect from you. 

    10.    Contacting Us – Questions, Feedback, Withdrawal of Consent, Access and Correction of your Personal Data

    10.1   To contact us regarding your Personal Data or on any aspect of our Data Protection Policy (including our reliance on legitimate interests), withdrawing your consent to any use of your Personal Data, or to obtain access and make corrections to your Personal Data records, please contact us:

    10.2   You may withdraw your consent for the collection, use and disclosure of your Personal Data. If you withdraw your consent, depending on the nature of your request, OSPL may not be able to continue to provide its products or services to you, administer any contractual relationship already in place, or perform or conclude an existing or prospective agreement. This may result in the termination of any agreements you have with OSPL, and your being in breach of your contractual obligations or undertakings. In such an event, we reserve our legal rights and remedies.

    10.3   Please note that if a third party provided your Personal Data to us (e.g. The Central Depository (Pte) Limited), you should contact such third party directly to make any queries, feedback, and access and correction requests to us on your behalf.


    11. 
    Governing Law

    11.1 
    This Data Protection Policy and your use of this website shall be governed by the laws of Singapore.

     

  • Accessing third party sites
    For your convenience, this website may provide hyperlinks to other websites on the Internet. These third party websites are not affiliated with or in any way related to OCBC Securities Private Limited. We wish to acknowledge that we are providing such hyperlinks for your information purposes only.

    The provision of hyperlinks to external or third party websites does not and in no way represent any forms of recommendation, endorsement, approval, guarantee or introduction of any third parties or the products and services that they provide, or any form of co-operation between OCBC Securities Private Limited and such third parties unless otherwise stated by OCBC Securities Private Limited Additionally, OCBC Securities Private Limited is not a party to any contractual arrangements that you and the provider of the third party website or any third party may enter into, unless otherwise specifically agreed to by OCBC Securities Private Limited.

    You are strongly advised that you use the hyperlinks at your own risk. OCBC Securities Private Limited is not responsible for any loss, damage, or consequence that may, directly or indirectly, arise from your usage of the hyperlinks. Nor shall we be held liable for the accuracy, truthfulness, or whatever of the contents of such third party websites.

    The hyperlinks to third party websites may contain downloadable software that are for your own convenience only. Once again, we shall not be held responsible for any problems or difficulties that you may encounter in downloading or installing such software. Please bear in mind that the use of any software downloaded from the Internet may be governed by a licence agreement. We are not in any way responsible for any infringement by you of any intellectual property rights of the relevant software provider by your failing to adhere to the terms of such license agreement. When you use this hyperlink service, you must observe the terms of use and the relevant rules and conditions stipulated by OCBC Securities Private Limited as well as those set down by other third party websites.
  • Statement on Fair Dealing

    At OCBC Securities, we understand that our continued success as a financial services group is dependent on our ability to build enduring relationships with our customers. This involves treating our customers with respect and integrity, and consistently dealing with them in a fair and professional manner. That is why the element of Fair Dealing features prominently in our core values. Specifically, our value of ‘Integrity’ underscores Fair Dealing as the basis of our business.

    We seek to deal fairly with our customers by:

    • providing them with clear, relevant and timely information to help them make informed decisions
    • recommending only products, where applicable, that are aligned with their financial objectives and risk profiles
    • training and certifying our sales employees so that they are equipped to give appropriate advice and recommendations, where applicable
    • treating their feedback and complaints seriously, and ensuring that issues are addressed in an effective and prompt manner

     

    Our employees are constantly reminded on the importance of Fair Dealing, which is further reinforced through their performance and compensation review framework. In addition, the other Fair Dealing-related processes, systems and policies across the organisation are periodically reviewed and enhanced to ensure their continued effectiveness in helping us deliver the desired customer outcomes.

     

    OCBC Whistleblowing Programme

    At OCBC Securities, we are committed to the highest level of integrity and value high ethical standards. The Group's Whistleblowing Programme (www.ocbc.com/group/who-we-are/purpose-values/whistleblowing-programme.html) helps to promote a culture that encourages individuals to escalate any concerns or observation of fraud or misconduct. When sufficient information is provided, a thorough and unbiased investigation or assessment will be carried out by an independent party, Internal Audit. All parties will be treated fairly during the investigation and the Group will take appropriate actions based on the findings.

  • Best Execution Policy

    Best Execution Practices for Customers

    This statement sets out OCBC Securities Private Limited (“OSPL”)'s approach to providing ‘Best Execution’ for its customers, not including Institutional customers. Best Execution means OSPL takes all reasonable steps to obtain the best possible result for its customers, taking into account nature of orders, order instructions, order size, available prices, costs, execution speed, likelihood of execution and settlement, market impact, and/or other relevant order execution considerations, whether we are executing orders directly on behalf of customers or indirectly by passing orders to other brokers for execution.

    This Best Execution Policy should not be taken as a representation and failure to comply with these procedures should in no way mean that OSPL has breached any specific regulatory obligations placed upon it, or as contractually agreed with the customers.

     

    1. Scope

     

    1.1  Best Execution is owed when we accept an order to execute a transaction on customers’ behalf. When we execute a ‘customer order’, Best Execution will apply to determine the price where OSPL acts as a broker.

     

    2. Best Execution and Relevant Factors

     

    2.1 When executing orders, we will take all reasonable steps to achieve Best Execution of customer orders after receiving their orders and instructions to transact.

     

    2.2 OSPL, as a broker, is committed to:

    (1) carry out the customer's instructions;

    (2) exercise skill, care and diligence;

    (3) act in good faith;

    (4) act in the best interests of customers;

    (5) if asked, disclose all circumstances and risks that could reasonably be expected to affect a customer's decision;

    (6) if asked, inform the customer of the current best bid and offer prices on the relevant Trading System;

    (7) disclose the commission and any benefit directly or indirectly receivable on the transaction;

    (8) not enter into a transaction which may conflict with a duty owed to the customer,

    unless the customer is informed of the conflict and consents to the transaction; and

    (9) not disclose a customer's order unless:

    (a) the prior consent of the customer for the disclosure of the information is obtained
    (b) the disclosure is for the effective execution of the customer's order;
    (c) the disclosure is required under the law or under the relevant rules and/or regulations.

     

    2.3 OSPL will generally give price a higher relative importance when obtaining the best possible result for orders executed on a customer’s behalf. However, in achieving the best possible result for customers, we will also take into consideration a range of different factors depending on circumstances. These may include considering the need for timely execution, availability of price improvement, the liquidity constraints of the market (which may make it difficult to execute an order) and resulting potential price impact and/or the nature of the transaction.

     

    2.4 In determining the relative importance and applicability of the factors, we will take into account the following considerations, where relevant:
    (a) the characteristics of the instruments or products that are the subject of the relevant order
    (b) the characteristics of the execution venues or brokers to which the order can be directed; and
    (c) the characteristics of the customer’s orders (e.g. size of order, liquidity profile, prevailing market conditions)

    2.5 Where customers are connected electronically to OSPL, we will ensure connection stability and uninterrupted market access during trading hours to the best of our ability so that our customers can be assured of accurate execution and reporting; whether we are executing on our own (either by placing the order on an external execution venue on its own or by executing in principal capacity) or transmitting customers’ orders to intermediate brokers for execution.

     

    3. Execution Venues

     

    3.1 Our Best Execution Practices include, for each capital markets products in which we execute orders on our customers’ behalf, those venues that we consider will enable us to obtain Best Execution on a consistent basis. Those possible execution venues include, as appropriate for each capital markets products: regulated markets (such as approved exchanges and recognised market operators in Singapore or trading venues in a foreign jurisdiction), market makers, other liquidity providers and  off exchanges such as OTC execution for structured products or bonds and cross-trades. 

     

    3.2 OSPL may also transmit our customers’ orders to another broker for execution, in which case we will either determine the ultimate execution venue ourselves on the basis described above, and instruct the other broker accordingly, or we will satisfy ourselves that the other broker has arrangements in place to enable us to comply with our Best Execution obligations to our customers.

     

    3.3 OSPL will also take steps not to structure or charge OSPL’s commissions in such a way as to discriminate unfairly between execution venues.

     

    4. Transactions where Best Execution has limited scope

     

    4.1 For single venue transactions, the nature of the transaction results in there being only one venue and, therefore the only pricing consideration is time of execution. This, therefore, precludes the use of comparable prices. In this case, Best Execution obligation technically applies but, because of the nature of the order, the obligation is, in effect, satisfied.

     

    5. Specific Instructions

     

    5.1 OSPL will place and/or execute a customer’s order following the specific instruction, if any, from the customer. When we place and/or execute an order following specific instruction from the customer, we would be regarded as having satisfied our Best Execution obligations only in respect of the part or aspect of the order to which the customer’s instruction relates.

     

    5.2. In the absence of express instructions from our customers, we will exercise our own discretion, and subject the circumstances thereon, having regard for the terms of our customer’s order in determining the factors that we need to take into account for the purpose of providing our customer with Best Execution.

     

    5.3 Where customers choose to execute an order via our online platform, the customer will select parameters of the trade (such as the price, the timing, the size and nature of interaction with the selected execution venue). In such a case OSPL, while acting on its customer’s behalf in providing the online  service, is considered to have fulfilled its obligation on that aspect of the order to provide Best Execution, and the customer will be treated as having given specific instructions for the entirety of their order by means of the online platform.

     

    6. Monitoring and Review

     

    6.1 OSPL will monitor the effectiveness of its execution arrangements and assess on a regular basis whether the execution venues it has selected provide for the best possible result for orders it executes on customers’ behalf.

     

    6.2 OSPL will review this policy and its order execution arrangements, from time to time, and reserves the right to amend this policy without providing prior notice.  Customer may refer to the latest version of this document made available on our website. 

  • Providing Feedback

    How will my feedback be handled?

    We will be in touch within 2 working days of receiving your feedback. After that, if any mis-selling or misrepresentation of an investment product is involved, an independent unit that is not directly involved in providing any financial advisory services will be in touch. Within 20 working days, after investigation and review, we will provide a written reply. If we require more time for the investigation, we will let you know. 

    Will my feedback be handled in an independent manner? 

    Yes, an independent unit that is not directly involved in providing any financial advisory services will investigate and review your feedback fairly and promptly. 

    How can I submit my feedback or complaint on feedback? 

    a. Please email us at cs@ocbcsec.com so we may assist you.

    b. Or you may mail to us at:

    18 Church Street
    #01-00 OCBC Centre South
    Singapore 049479
    Attention: Customer Service Department

    c. For immediate assistance, you may call us at:
    • 1800 6338 8688 (local)
    • +65 6338 8688 (overseas)

    We are available to attend to you from 8.30am to 6.00pm (Mondays to Fridays, excluding Singapore Public Holidays).
  • Foreign Account Tax Compliance Act (FATCA)

    1.         Definitions and Interpretation

    In this FATCA Policy, the following capitalised terms have the following meaning:

    "Account Information" means any information relating to any account of a Customer with OCBC Securities including without limitation the account number and transaction details.

    "Applicable Laws and Regulations" means obligations of OCBC Securities to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Securities and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.

    Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.

    "Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Securities in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, substantial owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Securities.

    "Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.

    "Customer" means the Person who has a relationship with OCBC Securities in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.

    "FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Singapore.

    "OCBC Securities" means OCBC Securities Private Limited and shall include its successors and assigns.

    "Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.

    "Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Securities may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, registered address, address of place of business or (if applicable) such information as OCBC Securities may reasonably require regarding each of its substantial shareholders and controlling persons.

    "Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of security trading accounts; ; (ii) relationship maintenance between OCBC Securities and the Customer (including without limitation marketing and promoting services or products); (iii) any other products tools and/or services, from time to time offered by OCBC Securities, including electronic trading services; and (iv) any other acts or materials of OCBC Securities ancillary to, in furtherance of or in connection with any of the (i) to (iii) above.

    "Substantial owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own more than 25% of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own more than 25% of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly more than 25% of the beneficial interests of the trust.

    "Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Securities may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.




    2.         Tax Withholding and Compliance Provisions



    2.1.     Provision of Information

        a. The Customer must provide OCBC Securities with the Customer's Personal Information, and where reasonably required by OCBC Securities, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Securities may from time to time require. 

        b. When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Securities promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition. 

        c. The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Securities may reasonably require from time to time for purposes of OCBC Securities' compliance with Applicable Laws and Regulations. 

        d. The Customer agrees that OCBC Securities may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Securities reasonably considers it appropriate.



    2.2.      Disclosure of Information

        a.  The Customer agrees that OCBC Securities may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Securities' compliance with Applicable Laws and Regulations. 

        b.  The Customer waives, and, where reasonably required by OCBC Securities, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Securities' ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a. 

        c.  The Customer agrees that OCBC Securities may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Securities reasonably considers it appropriate.


    2.3.       Failure to Provide Information

    The Customer agrees that:

    a) where the Customer fails to comply with its obligations under 2.1 above; or 

    b) where any of the other Consenting Persons fails to comply with OCBC Securities' requirements in 2.1 or 2.2; or 

    c) where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or 

    d) for whatever reason OCBC Securities is prevented (under Singapore law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,

    OCBC Securities may take one or more of the following actions at any time as may be required by OCBC Securities to ensure its compliance with Applicable Laws and Regulations:

    1) deduct from or withhold part of any amounts payable by OCBC Securities to the Customer and/or any other Consenting Person; 

    2) refuse to provide new Services to the Customer; 

    3) terminate the Customer's account(s) with OCBC Securities;  

    4) discontinue entirely or in part OCBC Securities' relationship with Customer; 

    5) provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.



    3.         Customer Confirmations

    By using or accepting the Services, the Customer confirms and agrees that:

    a) without prejudice to the Terms and Conditions, the Customer confirms that the Customer has read this FATCA policy, has received adequate explanation, and understands the implications of this FATCA policy by which Customer irrevocably agrees to be bound; 

    b) any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA policy is irrevocable; 

    c) OCBC Securities is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Securities taking any actions permitted by or exercising any powers under this FATCA Policy; 

    d) any withdrawal or payment amount made by OCBC Securities pursuant to any Services shall be subject to this FATCA Policy; 

    e) the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Securities and the disclosure of any of such Tax Information by OCBC Securities under this FATCA Policy. The Customer must inform each Consenting Person of OCBC Securities' powers under this FATCA Policy; 

    f) this FATCA Policy is without prejudice, and in addition, to OCBC Securities' rights or powers under the terms and conditions governing the relationship between Customer and OCBC Securities.



    4.         General

     a) In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Securities, this FATCA Policy shall prevail. 

    b) Notwithstanding any other terms and conditions that govern the Customer’s relationship with OCBC Securities (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Securities may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Securities to ensure its compliance with Applicable Laws and Regulations. 

    c) If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.

    d) It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Securities do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.

  • Common Reporting Standard (CRS)

    1. Definitions and Interpretation

    In this CRS Policy, the following capitalised terms have the following meaning:

    "Account Information" means any information relating to any account of a Customer with OCBC Securities including without limitation the account number and transaction details.

    "Applicable Laws and Regulations" mean any of the following that currently or in the future apply to OCBC Securities: (i) local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules and codes of practice, including whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Securities and any government or taxation authority in any jurisdiction; and including, but not limited to, the CRS.

    Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.

    "Controlling Person" means any natural person who exercises control over a legal person or a legal arrangement, such as a corporation, partnership, trust or foundation. In the case of a trust, such term means the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. The term "Controlling Person" must be interpreted in a manner consistent with the Financial Action Task Force Recommendations. Where no natural person or persons is or are identified as exercising control of the entity through ownership interests, the controlling person of the entity is deemed to be the natural person who holds the position of senior managing official.

    "CRS" means the Standard for Automatic Exchange of Financial Account Information in Tax Matters, developed by the Organisation for Economic Co-operation and Development and any associated similar or analogous legislation, treaty, regulation, instruction or other official guidance of any Authority in any jurisdiction.

    "Customer" means the Person who has a relationship with OCBC Securities in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.

    "OCBC Securities" means OCBC Securities Private Limited and shall include its successors and assigns.

    "Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.

    "Personal Information" in respect of a Customer and any Controlling Person, means: (i) where the Customer and any Controlling Person is an individual, his/her full name, date and place of birth, residential address, mailing address, hold mail instruction or in-care-of address, contact information (including telephone number), and any taxpayer identification number  (or functional equivalent), (if applicable) social security number, citizenship(s), standing instructions to transfer funds to an account, power of attorney or signatory authority granted to any person, residency(ies) and tax residency(ies) or (if applicable) such other information as OCBC Securities may reasonably require regarding such Customer and any Controlling Person; (ii) where the Customer and any Controlling Person is a corporate/entity, its full name, date and place of incorporation or formation, address, registered address, address of place of business, tax identification number (or functional equivalent), tax status, tax residency, financial statements, certification of its CRS status/classification, whether it is a passive NFE (as that term is defined by Applicable Laws and Regulations) with one or more Controlling Persons, or (if applicable) such other information as OCBC Securities may reasonably require regarding each of its substantial shareholders and controlling persons.

    "Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of security trading accounts; (ii) relationship maintenance between OCBC Securities and the Customer (including without limitation marketing and promoting services or products); (iii) any other products tools and/or services, from time to time offered by OCBC Securities, including electronic trading services; and (iv) any other acts or materials of OCBC Securities ancillary to, in furtherance of or in connection with any of the (i) to (iii) above.

    "Tax Information" in respect of a Customer and any Controlling Person, means: (i) any documentation or information (and accompanying statements, forms, representations, waivers and consents as OCBC Securities may from time to time require or as the Customer and any Controlling Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Controlling Person; (ii) Personal Information of the Customer and any Controlling Person; (iii) Account Information; and (iv) any other information received by OCBC Securities in relation to the Customer, including (but not limited to) information collected and maintained pursuant to AML/KYC procedures.

     

    2. Tax Compliance Provisions

    2.1. Provision of Information

    a. The Customer must provide OCBC Securities with the Customer's Personal Information, and where reasonably required by OCBC Securities, the Personal Information of any Controlling Person, in such form and within such time, as OCBC Securities may from time to time require.

    b. When there is a change or addition to the Personal Information of the Customer and (where applicable) any Controlling Person, the Customer must update OCBC Securities promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition if the Customer has not done so already.

    c. The Customer must, and, where applicable, procure such Controlling Person to, complete and sign such documents and do such things as OCBC Securities may reasonably require from time to time for purposes of OCBC Securities’ compliance with Applicable Laws and Regulations.

    d. The Customer agrees that OCBC Securities may directly require any Controlling Person to provide or confirm the accuracy of their Personal Information without involving the Customer if OCBC Securities reasonably considers it appropriate.

    2.2. Disclosure of Information

    a. The Customer agrees that OCBC Securities may disclose the Customer's Tax Information and the Tax Information of any Controlling Person to any Authority in any jurisdiction for the purpose of ensuring OCBC Securities’ compliance with Applicable Laws and Regulations.

    b. The Customer waives, and, where reasonably required by OCBC Securities, agrees to procure any Controlling Person to waive, any applicable restrictions that would otherwise hinder OCBC Securities’ ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.

    c. The Customer agrees that OCBC Securities may directly require any Controlling Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Securities reasonably considers it appropriate.

    2.3. Failure to Provide Information

    The Customer agrees that:

    a. where the Customer fails to comply with its obligations under 2.1 or 2.2 above; or

    b. where any Controlling Person fails to comply with OCBC Securities’ requirements set out in 2.1 or 2.2 above; or

    c. where the Personal Information (regardless of whether such Personal Information is in relation to the Customer or any Controlling Person) is inaccurate, incomplete, misleading or is not promptly updated; or

    d. for whatever reason OCBC Securities is prevented (under Singapore law or otherwise) from disclosing the Tax Information of the Customer and/or any Controlling Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,

    OCBC Securities may take one or more of the following actions at any time as may be required by OCBC Securities to ensure its compliance with Applicable Laws and Regulations:

    1. refuse to provide new Services to the Customer;

    2. terminate the Customer's account(s) with OCBC Securities;

    3. discontinue entirely or in part OCBC Securities’ relationship with the Customer;

    4. provide (whether before or after taking actions as described in items 2 and 3 of this section) the Tax Information relating to the Customer and/or any Controlling Person to an Authority in any jurisdiction.

     

    3. Customer Confirmations

    By using or accepting the Services, the Customer confirms and agrees that:

    a. without prejudice to the applicable terms and conditions governing the relationship between OCBC Securities and the Customer, the Customer confirms that the Customer has read this CRS Policy, has received adequate explanation, and understands the implications of this CRS Policy by which the Customer irrevocably agrees to be bound;

    b. any agreement, waiver, representation and/or confirmation given in, or to be given pursuant to, this CRS Policy is irrevocable;

    c. OCBC Securities is not liable for any costs or loss that the Customer (or any Controlling Person) may incur because of OCBC Securities taking any actions permitted by or exercising any powers under this CRS Policy;

    d. any withdrawal or payment amount made by OCBC Securities pursuant to any Services shall be subject to this CRS Policy;

    e. the Customer must obtain or, as the case may be, have obtained the requisite consent from each Controlling Person for the provision of his or her Tax Information to OCBC Securities and the disclosure of any of such Tax Information by OCBC Securities under this CRS Policy. The Customer must inform each Controlling Person of OCBC Securities’ powers under this CRS Policy; and

    f. this CRS Policy is without prejudice, and in addition, to OCBC Securities’ rights or powers under the terms and conditions governing the relationship between the Customer and OCBC Securities.

     

    4. General

    a. In the event of any conflict or inconsistency between any of the contents of this CRS Policy and other terms and conditions that govern the Customer’s relationship with OCBC Securities, this CRS Policy shall prevail.

    b. Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Securities (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Securities may amend, update, and revise this CRS Policy unilaterally at any time as may be required by OCBC Securities to ensure its compliance with Applicable Laws and Regulations.

    c. If all or any part of this CRS Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this CRS Policy in that jurisdiction.

    d. It is the Customer's and each Controlling Person's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this CRS Policy. OCBC Securities do not provide tax or legal advice and are unable to advise Customers and/or Controlling Persons regarding the US federal income tax or other tax consequences that may be applicable to them in the Customer's (or the relevant Controlling Person's) particular circumstances.

  • Anti-Money Laundering / Countering the Financing of Terrorism & Sanction

    As a global financial hub, Singapore is exposed to money laundering, terrorist financing and proliferation financing (collectively, Financial Crime) risks. The potential social and economic damage brought by these illicit activities to Singapore and the international financial markets is immense and severe. This is because such activities may involve drug dealings, illegal arms dealings, extortion, kidnapping, corruption, tax evasion, unlicensed money lending, terrorism activities and other serious crimes. These will not only lead to an increase in crime, but also bring harm to legitimate businesses.

    OCBC Group – i.e. OCBC Bank and its subsidiaries, branches in and outside Singapore – are committed to complying with the sanctions laws and regulations issued by the Singapore Government including the Monetary Authority of Singapore, the United Nations Security Council, the European Union and the United States Treasury Department’s Office of Foreign Assets Control and the United Kingdom’s Office of Financial Sanctions Implementation of HM Treasury, as well as the applicable laws and regulations of the jurisdictions in which we operate. OCBC Group does not establish business relationships or transact with sanctioned individuals, entities, sanctioned countries or territories (such as North Korea, Iran, Syria, Cuba and Crimea), where such relationships or transactions are non-compliant with the above sanctions laws and regulations, or are against the OCBC Group’s internal AML/CFT and sanctions risk policies.

    This means that we will proactively take measures to combat financial crime in order to safeguard the Group as well as our customers’ business reputation, assets and interests. Such measures may include:

    • Monitoring and analysing your account activities;
    • Contacting you for additional information as and when necessary, where such information is not available from our monitoring and analysis, to ensure compliance with applicable laws, regulations and policies; and
    • Rejecting or blocking transactions that are not permitted by the applicable laws, regulations and policies.

    We seek your cooperation and support should you receive such enquires from us. Together, we can safeguard the health and integrity of our financial system and also protect your interests and assets.

  • Trading rules, limitations and risks of internet trading
    Electronic trading systems are one of the trading avenues we offer to our valued clients. While we strive to make your trading as rewarding as possible, we would also like to take this opportunity to provide you with some information and guidance that are associated with E-trading. One important aspect to be aware of is certain trading practices that would possibly be deemed as offences under the Securities and Futures Act (“SFA”) and Futures Trading Rules.

    The relevant laws and rules are set out in Appendix 1 for your reference.

    You will appreciate that in order to make best use of the trading system it is necessary to have a good understanding of the various features and functionalities available. The “Price and Quantity setting” feature, for example, protects you from erroneously executing trades through the setting of parameters in the trading system. Do refer to the user guide we have sent to you to help you better understand the system. If you need assistance, feel free to call our Helpdesk.

    Electronic trading relies heavily on hardware and connectivity. Having a good understanding of the characteristics, limitations and risks associated with such mode of trading will enable you to better manage certain situations that may arise. You may refer to Appendix 2 or the section on electronic trading in our agreement.

    You may wish to visit the various Exchanges’ website to familiarize yourself with the contracts specifications which offer crucial information pertaining to a contract, such as contract size, tick value and last trading day.

    Appendix 1 - Securities and Futures Act ("SFA") and Futures Trading Rules

    SFA s206 : False trading
    No person shall create, or do anything that is intended or likely to create, a false or misleading appearance of active trading in any futures contract on a futures market or in connection with leveraged foreign exchange trading, or a false or misleading appearance with respect to the market for, or the price of futures contracts on a futures market or foreign exchange in connection with leveraged foreign exchange trading.

    SFA s208 : Manipulation of price of futures contract and cornering
    No person shall, directly or indirectly — (a) manipulate or attempt to manipulate the price of a futures contract that may be dealt in on a futures market, or of any commodity which is the subject of such futures contract; or (b) corner, or attempt to corner, any commodity which is the subject of a futures contract.

    SFA s209 : Fraudulently inducing persons to trade in futures contracts
    (1) No person shall —
    (a) by making or publishing any statement, promise or forecast that he knows or ought reasonably to have known to be false, misleading or deceptive; (b) by any dishonest concealment of material facts; (c) by the reckless making or publishing of any statement, promise or forecast that is false, misleading or deceptive; or (d) by recording or storing in, or by means of, any mechanical, electronic or other device information that he knows to be false or misleading in a material particular, induce or attempt to induce another person to trade in a futures contract or engage in leveraged foreign exchange trading.

    (2) In any proceedings against a person for a contravention of subsection (1) constituted by recording or storing information as mentioned in subsection (1d), it is a defence if it is established that, at the time when the defendant so recorded or stored the information, he had no reasonable grounds for expecting that the information would be available to any other person.

    SFA s210 : Employment of fraudulent or deceptive devices, etc.
    No person shall, directly or indirectly, in connection with any transaction involving trading in a futures contract or leveraged foreign exchange trading — (a) employ any device, scheme or artifice to defraud; (b) engage in any act, practice or course of business which operates as a fraud or deception, or is likely to operate as a fraud or deception, upon any person; (c) make any false statement of a material fact; or (d) omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading.

    SFA s211: Dissemination of information about illegal transactions
    No person shall circulate, disseminate, or authorise, or be concerned in the circulation or dissemination of, any statement or information to the effect that the price of a class of futures contracts or foreign exchange in connection with leveraged foreign exchange trading will, or is likely to, rise or fall or be maintained because of the market operations of one or more persons
    which, to his knowledge, are conducted in contravention of section 206, 207, 208, 209 or 210 if —
    (a) the person, or a person associated with the person, has conducted such market operations; or
    (b) the person, or a person associated with the person, has received, or expects to receive, directly or indirectly, any consideration or benefit for circulating or disseminating, or authorising or being concerned in the circulation or dissemination, the statement or information.

    SGX-DT Rule 3.4.1: Market Manipulation
    A Member, Approved Trader or Registered Representative shall not manipulate or attempt to manipulate the price of a contract or of any underlying, or corner, or attempt to corner, any underlying.

    SGX-DT Rule 3.4.2: Churning
    A Member, Approved Trader or Registered Representative is prohibited from churning or generating commissions through creating excessive transactions in a Customer’s Account.

    SGX-DT Rule: 3.4.3 False Trading, Bucketing, Fraudulent Inducement to Trade and Employment of Fraudulent Device
    A Member, Approved Trader or Registered Representative shall not:

    (a) engage in, or knowingly act with any other Person in, any act or practice that will or is likely to create a false or misleading appearance of active trading in any contract or a false or misleading appearance with respect to the price of any contract;
    (b) knowingly execute, or hold out as having executed, an order for the purchase or sale of a contract, without having effected a bona fide purchase or sale of the contract in accordance with this Rules;
    (c) induce or attempt to induce another person to trade in a contract:

    (i) by making or publishing any statement, promise or forecast that it knows or ought reasonably to know to be false, misleading or deceptive;
    (ii) (by any dishonest concealment of material facts;
    (iii) by the reckless making or publishing of any statement, promise or forecast that is false, misleading or deceptive; or
    (iv) by recording or storing in any mechanical, electronic or other device information that is knowingly false or materially misleading; or
    (d) directly or indirectly in connection with any trading in a contract:

    (i) employ any device, scheme or artifice to defraud;
    (ii) engage in any act, practice or course of business which operates as a fraud or deception, or is likely to operate as a fraud or deception upon any Person;
    (iii) make any false statement of a material fact; or
    (iv) omit to state a material fact necessary in order to make any statements made, in the light of the circumstances under which they were made, not misleading.

    In the course of your trading, do be mindful of the said prohibited trading practices as any person who contravenes any of the above provisions shall be guilty of an offence and shall be liable to a fine not exceeding $250,000 or to imprisonment not exceeding 7 years, or to both.

    Appendix 2 - Potential Limitations and Risks of Online Trading, which includes but not limited to the following

    (a) possibility of delays in order transmission and confirmation of order execution, and what to do in case of such delays;

    (b) not being able to withdraw erroneous orders in time due to the speed of electronic trading; and

    (c) danger of unauthorised access to a Customer’s on-line account and non-compliance of recommended preventive security measures in relation to matters such as the protection of passwords and leaving an on-line screen unattended.

    (d) exposed to risks associated with systems including the failure of hardware and software, resulting in orders either not executed according to instructions or not executed at all.

  • Prohibited trading practices
    At OCBC Securities, we always have your interest at heart. While we strive to make our internet trading portal iOCBC as user friendly as possible for you, we would also want to highlight certain trading practices that are prohibited by law under the Securities and Futures Act (“SFA”).

    These practices could possibly be deemed as offences under Section 197 of the SFA on false trading and market rigging transaction. The following illustrates the prohibited practices where there is a NO change in beneficial ownership of securities.

    Example 1: Customer A has one trading account and used the same trading account number to trade

    Customer A places an order via the Internet to buy x number of shares in Company XYZ at $0.50 in the market. Following the first order placed, he later keyed-in another order, via the Internet, to sell shares in Company XYZ at the same price in the market. The sell order was matched (completely or partially) against his own buy order in his trading account in the market. The reverse also applies where customer A’s sell order matches against his subsequent buy order.

    Example 2: Customer B has multiple accounts (Cash / SBL / Margin) opened with OSPL and used a different trading account number to trade

    Customer B places an order under his cash account, via the Internet, to buy x number of shares in Company XYZ at $0.50 in the market. Following the first order placed, he keyed-in another order, under his SBL / margin account (i.e. different trading account number), via the Internet, to sell shares in Company XYZ at the same price in the market. The sell order was matched (completely or partially) against his own buy order in his cash accounts in the market. The
    reverse also applies where customer B’s sell order in his cash account matches against his subsequent buy order in his other accounts.

    The above examples have the effect of creating a “wash sale”. A wash sale is a purchase or sale of any securities that does not involve a change in the beneficial ownership of those securities.

    Section 197 (1) of the SFA prohibits any person from creating or doing anything that is intended or likely to create a false or misleading appearance of active trading in any securities on a securities market, or with respect to the market for, or the price of, such securities. Wash sale could have the effect of creating such false or misleading appearances.

    Under Section 197(3) read with section 197(4) of the SFA, a person engaging in wash sales in securities is deemed to have created a false or misleading appearance of active trading in securities on a securities market unless the person establishes that the purpose for which he conducted the wash sale was not, or did not include, the purpose of creating a false or misleading appearance of active trading in securities on a securities market.

    Apart from the above, there are some other market conduct offences under the SFA which apply generally to a person as follows:

    SFA 198: Securities market manipulation

    SFA 199: False or misleading statements, etc.

    SFA 200: Fraudulently inducing persons to deal in securities

    SFA 201: Employment of manipulative and deceptive devices

    SFA 202: Dissemination of information about illegal transactions

    SFA 204: PENALTIES

    You may refer to Statutes Online Database for more information.


    Trade Matching Control

    The Matching Control is a mechanism which will prevent a customer from matching his own buy or sell orders. Therefore, if an order is working on the market, any opposite order tentatively sent by the user for the same account, same counter, and same or better price will get rejected.

    For example, if a customer using account no. 0123456 keys in an order to buy 1,000 shares in counter A at S$1.00 and uses the same account to key in an order to sell 1,000 shares in counter A at S$1.00 or lower, the sell order will be rejected.


    Why couldn’t you match your own trades?

    Section 197 (1) of the Securities and Futures Act prohibits any person from creating or doing anything that is intended or likely to create a false or misleading appearance of active trading in any securities on a securities market, or with respect to the market for, or the price of, such securities.

    Wash sale could have the effect of creating such false or misleading appearances. Under Section 197(3) read with section 197(4) of the SFA, a person engaging in wash sales in securities is deemed to have created a false or misleading appearance of active trading in securities on a securities market unless the person establishes that the purpose for which he conducted the wash sale was not, or did not include, the purpose of creating a false or misleading appearance of active trading in securities on a securities market.


    What would the rejection message be?
     

    The rejection message is “You are not allowed to match your own order (GL029). Please check your order and submit again”.

     
    How does it affect you? 

    Your orders could be rejected if your Buy price is same as/higher than the current best Ask (selling) price or your Sell price is same as/lower than the current best Bid (buying).

     
    Why are my orders rejected? 

    Your orders could be rejected for the following reasons: 

    1. You have submitted an order with price that is more than +/- 30 bids away from the last done price;
    2. You have submitted an overnight order with price that is more than +/- 30 bids of the previous day’s closing price during the Pre-Opening routine at 8:30am (Singapore time);
    3. Your Buy price is higher than the current best Ask (selling) price or your Sell price is lower than the current best Bid (buying);
    4. You have exceeded your Trading limit. You can contact your broker for clarifications on reviewing your trading limit.

     

    When was Trade Matching Control implemented?

    The Trade Matching Control was implemented on 20 March 2013.

  • Dispute resolution
    We are committed to providing you with quality service. We will promptly attend to any queries, problem, grievance or dispute which you may have in respect of or arising out of OCBC Securities Online Trading.

    You can call us at 1800 338 8688 or (65) 63388688. We are available to attend to you from 8.30a.m to 6.00p.m (Mondays to Fridays, excluding Singapore Public Holidays). We will advise on the immediate steps to be taken by you and/or actions that we will take.

    Alternatively, you may send us an email to cs@ocbcsec.com and we will try to respond to you within 24 hours provided that we receive your notification during business hours and the following day is not a Saturday, Sunday or public holiday, in which case we will reply on the next business day.

    Without prejudice in any way to either party's right to take immediate steps to seek urgent relief before a Singapore court or the right to seek legal redress, we will immediately investigate any claim/dispute brought to our attention and will attempt to revert to you within seven (7) working days from the date of receipt of notification. Soon thereafter, we will consult you in good faith with a view to reaching a quick and amicable resolution of the matter, satisfactory to both parties.