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- Notice of Tax Crimes Designation as Money Laundering Predicate Offences in Singapore
As of 1 July 2013, a broad range of serious tax crimes has been designated as money laundering predicate offences. Singapore’s Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act has also been correspondingly updated to include the designated offences. This means that powers to investigate and to prosecute money laundering under the said Act are also applicable to the proceeds of the designated tax offences.
We have revised the Terms and Conditions, governing accounts and all services provided by UOB Kay Hian Pte Ltd, and we require your agreement to Tax Compliance Representation and Warranty on a continuing basis. Regardless of whether you sign and return the representation and warranty endorsement to us, you will be deemed to have agreed so long as you proceed with giving any orders for any transaction.
- Personal Data Protection Act
The Personal Data Protection Act ("PDPA") is the principal data protection law in Singapore governing the collection, use, disclosure and care of personal data.
Being Singapore's only listed stockbroker, we respect and are fully committed to complying with the provisions of the PDPA and other applicable data protection laws in Singapore in our collection, use and disclosure of personal data.
To understand the purposes for which we collect, use and disclose your personal data, please refer to our latest Master Trading Agreement (“MTA”).
- Foreign Account Tax Compliance Act (“FATCA”)
FATCA was enacted by the United States. It targets non-compliance of US tax laws by US persons using overseas accounts and it will come into force on 1 July 2014. Non-US institutions (including UOB Kay Hian Pte Ltd) are to identify and report on these persons under the provisions of applicable US tax law.
We have revised our MTA to incorporate the above changes. Please take some time to review it and call us at +65 65369338 or email at contact@utrade.com.sg, if you require any clarification.
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