Security and Safety

Unit Trust - iFAST is licensed to provide custodial services for unit trusts and Singapore Government Securities (SGS). Custodial services include the safeguarding and administration of client assets and are subjected to regulatory requirements in the provision of such services. The unit trusts investments are registered in the name of iFAST Financial Pte Ltd - Client Trust. These units are segregated from the company’s assets.

SGS Bonds are held under a custody account with iFAST Financial Pte Ltd (‘iFAST’), a licensed custodian under the Monetary Authority of Singapore. For SGS Bonds, iFAST is a CDP Approved Depository Agent (DA) so we will also maintain a sub-account with CDP on behalf of each client, even though the SGS Bonds are held with iFAST.

Corporate Bonds - The holdings are held under a custody account with iFAST or any sub-custodians that we may appoint from time to time.

Cash Account – Cash account monies are deposited in bank accounts with licensed banking institutions. These bank accounts are designated as trust accounts, in which the monies are held on behalf of the customers and cannot be used to offset any debts owed by the company to the banks.

ETFs and Stocks - Stocks & ETFs are held on client’s behalf by iFAST and/or its appointed Custodian, hence the Securities are not registered in client name. Securities bought through iFAST must also be sold through iFAST, otherwise additional transfer fees may be incurred.
For SGX-listed securities, iFAST is a CDP Approved Depository Agent (DA) so we will also maintain a sub-account with CDP on behalf of each client, even though the listed securities are held with iFAST.

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