What does “segregated accounts” mean?
In accordance with sections 16, 17, 26 and 27 of the Securities and Futures (Licensing and Conduct of Business) Regulations issued by the Monetary Authority of Singapore, Saxo Capital Markets is obliged to hold money received from clients and assets held on behalf of clients in accounts separated from the company’s own money and assets.
All funds deposited by clients with Saxo Capital Markets will be kept in a segregated client funds account in accordance with the above regulation. Securities held by clients with Saxo Capital Markets are equally kept in segregated custody accounts.
How are my money protected in the event of SCM’s bankruptcy?
Saxo Capital Markets Pte. Ltd. is obliged by MAS to hold money received from clients in bank accounts segregated from the company’s own money.
In the unlikely event that SCM enters into liquidation, all funds in client trust accounts held with HSBC will not be affected by such a default and will remain for the benefit of the relevant client subject to deductions of charges and other costs due to SCM.
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