Singapore legislation
Regulation 37
Regulation 37
Disclosure requirement under section 273(1)(g)(iii)(B) of Act
An offer of securities‑based derivatives contracts mentioned in section 273(1)(g) of the Act satisfies the requirement in section 273(1)(g)(iii)(B) of the Act, if the offer complies with such of the following disclosure requirements as may be applicable:
if the offer is made on or after 8 October 2018 but before 8 October 2021 — the material risks of the securities‑based derivatives contracts are disclosed to the person to whom the offer is made at the time the offer is made;
if the offer is made on or after 8 October 2021 — the holder of a capital markets services licence to deal in capital markets products that made the offer —
has furnished the customer a written risk disclosure document (prepared by the holder or by the issuer of the securities‑based derivatives contracts) that discloses the material risks of the securities‑based derivatives contracts offered;
has received from the customer an acknowledgment signed and dated by the customer that the customer has received and understood the nature and contents of the risk disclosure document provided; and
has informed the customer whether the holder is making the offer as a principal or as an agent.