Class of Investors - CapBridge - Your Global Investment Platform

Class of Investors

The definitions of the various classes of Investors are based on the Securities and Futures Act (Cap. 289) of Singapore (“SFA”) as at 16 October 2019, as amended, consolidated, extended or re-enacted from time to time and shall include any orders, regulations, instruments or other subordinate legislation made from time to time under the statute concerned.

The various classes of Investors are as follows:

(a) ”Accredited Investor”, as defined in section 4A of the SFA, and extracted as follows:

(i) an individual —

(A)          whose net personal assets exceed in value $2 million (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount;

(B)          whose financial assets (net of any related liabilities) exceed in value $1 million (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount, where “financial asset” means —

(BA)       a deposit as defined in section 4B of the Banking Act;

(BB)       an investment product as defined in section 2(1) of the Financial Advisers Act; or

(BC)       any other asset as may be prescribed by regulations made under section 341 of the SFA; or

(C)         whose income in the preceding 12 months is not less than $300,000 (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount;

(ii) a corporation with net assets exceeding $10 million in value (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe, in place of the first amount, as determined by —

(A)          the most recent audited balance-sheet of the corporation; or

(B)          where the corporation is not required to prepare audited accounts regularly, a balance-sheet of the corporation certified by the corporation as giving a true and fair view of the state of affairs of the corporation as of the date of the balance-sheet, which date shall be within the preceding 12 months;

(iii) the trustee of such trust as the Authority may prescribe, when acting in that capacity; or

(iv) such other person as the Authority may prescribe.

 

(b) “Institutional Investor”, as defined in section 4A of the SFA, and extracted as follows:

(i)           the Government;

(ii)          a statutory board as may be prescribed by regulations made under section 341 of the SFA;

(iii)          an entity that is wholly and beneficially owned, whether directly or indirectly, by a central government of a country and whose principal activity is —

(A)          to manage its own funds;

(B)          to manage the funds of the central government of that country (which may include the reserves of that central government and any pension or provident fund of that country); or

(C)         to manage the funds (which may include the reserves of that central government and any pension or provident fund of that country) of another entity that is wholly and beneficially owned, whether directly or indirectly, by the central government of that country;

(iv)         any entity —

(A)          that is wholly and beneficially owned, whether directly or indirectly, by the central government of a country; and

(B)          whose funds are managed by an entity mentioned in sub-paragraph (iii);

(v)          a central bank in a jurisdiction other than Singapore;

(vi)         a central government in a country other than Singapore;

(vii)         an agency (of a central government in a country other than Singapore) that is incorporated or established in a country other than Singapore;

(viii)        a multilateral agency, international organisation or supranational agency as may be prescribed by regulations made under section 341 of the SFA;

(ix)         a bank that is licensed under the Banking Act (Cap. 19);

(x)          a merchant bank that is approved as a financial institution under section 28 of the Monetary Authority of Singapore Act (Cap. 186);

(xi)         a finance company that is licensed under the Finance Companies Act (Cap. 108);

(xii)         a company or co-operative society that is licensed under the Insurance Act (Cap. 142) to carry on insurance business in Singapore;

(xiii)        a company licensed under the Trust Companies Act (Cap. 336);

(xiv)        a holder of a capital markets services licence;

(xv)        an approved exchange;

(xvi)        a recognised market operator;

(xvii)       an approved clearing house;

(xviii)      a recognised clearing house;

(xix)        a licensed trade repository;

(xx)        a licensed foreign trade repository;

(xxi)        an approved holding company;

(xxii)       a Depository as defined in section 81SF of the SFA;

(xxiii)      an entity or a trust formed or incorporated in a jurisdiction other than Singapore, which is regulated for the carrying on of any financial activity in that jurisdiction by a public authority of that jurisdiction that exercises a function that corresponds to a regulatory function of the Authority under this Act, the Banking Act (Cap. 19), the Finance Companies Act (Cap. 108), the Monetary Authority of Singapore Act (Cap. 186), the Insurance Act (Cap. 142), the Trust Companies Act (Cap. 336) or such other Act as may be prescribed by regulations made under section 341 of the SFA;

(xxiv)      a pension fund, or collective investment scheme, whether constituted in Singapore or elsewhere;

(xxv)       a person (other than an individual) who carries on the business of dealing in bonds with accredited investors or expert investors;

(xxvi)      the trustee of such trust as the Authority may prescribe, when acting in that capacity; or

(xxvii)     such other person as the Authority may prescribe.

 

(c) “Sophisticated Retail Investor” shall mean, in accordance with the Personal Offers made pursuant to the Exemption for Small Offers as set out in section 272A of the SFA, those persons who have satisfied CapBridge’s onboarding requirements for retail investors, being a pre-qualification based on the following tests:

(i) “Financial Knowledge and Experience Checklist” – which assesses investors to ensure that they have sufficient knowledge or experience to invest in securities offered on CapBridge’s platform, or

(ii) “Suitability Assessment Checklist” – which assesses investors to ensure that the securities offered on CapBridge’s platform is suitable for the investor in light of his/her investment objectives and risk tolerance.