Important Message for Non-Singapore residents

 

Restrictions on product access for retail investors residing in the EEA

Due to the regulatory requirements of the European Union, certain products offered by DBS will not be available to retail investors who are residents (regardless of nationality) in the European Economic Area (EEA)1. If you are resident in the EEA, please read this section carefully before proceeding with any transaction.

The regulation on key information documents (KIDs) for packaged retail and insurance-based investment products (Regulation (EU) No. 1286/2014, commonly referred to as the PRIIPs Regulation) came into effect on 1 January 2018. Due to the PRIIPs Regulation, DBS is currently unable to offer structured notes and other products falling within the scope of the PRIIPs Regulation to retail investors resident in the EEA.

A retail investor is defined as a client who does not meet the criteria to qualify as a professional client. Such criteria are set out in Annex II of Directive 2014/65/EU (commonly referred to as MiFID II)2. Please note that this is different from the “professional investor” and “accredited investor” criteria applicable in Hong Kong and Singapore respectively. For clients whose beneficial owners are resident in the EEA, by default, we have classified them as retail investors.

The PRIIPs Regulation obliges DBS, when advising on or selling a packaged retail and insurance-based investment product (PRIIP)3 to a retail investor in the EEA, to provide such investor with a pre-contractual product disclosure document in the form of a KID. As our product manufacturers are evaluating the impact of the PRIIPs Regulation, KIDs will not be available for any of the structured notes or products (regardless of issuer) on our product platform unless our product manufacturer informs us otherwise. As such, until further notice, DBS will not be able to avail these products (including non-UCITs funds and ETFs4) from 1 January 2018 to retail clients in the EEA.

For EEA clients who had before 1 January 2018 acquired such products through us, they may continue to hold and/or sell these products in or through their DBS accounts. We encourage our clients to speak to their Relationship Manager to better understand their options and address their queries. For more information on the PRIIPs Regulation, please visit the European Commission website at go.dbs.com/priips. Please contact your Relationship Manager for enquiries.

1 Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom.
2 http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32014L0065
3 A PRIIP is any investment where the amount repayable to the investor is subject to fluctuations because of exposure to reference values or to the performance of one or more assets which are not directly purchased by the investor. PRIIPs will include investment products such as investment funds, life insurance policies with an investment element, structured products and structured deposits.
4 Non-UCIT refers to non-Undertakings for Collective Investment in Transferable Securities. ETFs refers to Exchange Traded Funds Investments.

 

Restrictions on product/service access for persons resident in Australia

Due to Australia’s regulatory requirements, certain products and services offered by DBS may only be made available to wholesale clients in Australia. For more information, please refer to the FAQs.

Frequently Asked Questions

As a Retail Client, there will be limitation on our ability to offer you certain products and services including but not limited to the following:
  • Deposits
  • Unsecured Credit Facilities
  • Loans
  • Investments: Unit Trusts/ Equities/ Currency Linked Investments/ Structured Deposits/ Bonds/ Structured Notes/ Singapore Savings Bonds/ Supplementary Retirement Scheme (SRS)/ Central Provident Fund Investment Scheme (CPFIS)/ Margin Lending - Investment Financing/ Shares Financing
  • Insurance policies

In compliance with the Australia’s Corporation Act, DBS Bank Ltd. may provide certain financial products and services only to Wholesale Client in Australia.

The pre-requisites to qualify for Wholesale Client status are as follows:

Qualification for Wholesale Client Status
(a) A person or entity that has obtained a qualified accountant’s certificate stating they have net assets of at least A$2.5 million, or a gross income for each of the last two financial years of at least A$250,000. The certificate is valid for two years from the date of the certification.
(b) A professional investor, which includes, among others, financial services licensees, bodies regulated by APRA, superannuation funds, as well as a person or entity who controls gross assets of at least $10 million (including any amount held by an associate or under a trust that the person manages).

A qualified accountant’s certificate stating either;
  • net assets of at least A$2.5million or
  • a gross income for each of the last two financial years of at least A$250,000 per year.
  • professional investor, which includes, among others, financial services licensees, bodies regulated by APRA, superannuation funds, as well as a person or entity who controls gross assets of at least A$10 million (including any amount held by an associate or under a trust that the person manages).

Without the Wholesale Client Certification, there will be limitations on our ability to offer you certain products and services. 

DBS Bank Ltd will not be able to make available new or additional products/services to you. However, we shall continue to provide services to you for the existing product holdings. 

Yes, each individual client will be required to complete and submit the Wholesale Client Certificate.

No, the joint account holder who is residing in Singapore may continue to transact in any products.

DBS may take approximately 3-5 days to process your request. We will notify you once your request has been processed and your status has been updated in our records.