Fillable Declaration Of Accredited Investor Status (Page 2 of 2) in pdf

ANNEX

Exemptions from certain compliance requirements

In the event NAB determines that you are to be treated as an accredited investor, NAB hereby notifies you that in view of your declaration,

representation and warranty, NAB will be exempt from complying with certain compliance requirements under the Securities and Futures Act,

Chapter 289 of Singapore (the “SFA”), the Financial Advisers Act, Chapter 0 of Singapore (the “FAA”), and the respective regulations, Notices and

Guidelines issued thereunder. The following is a non-exhaustive summary of certain of these requirements.

Under the SFA, NAB will be exempt from:

• the prospectus registration requirements of Part XIII of the SFA, in that when offering securities or units in collective investment schemes or

business trusts to you, NAB will be able to rely on the exemptions from the prospectus requirements in Sections 275, 282Z and 305 of the SFA;

• Regulation 33(2) of the Securities and Futures (Licensing and Conduct of Business) Regulations (which requires certain risk disclosures to be

made in relation to securities lending);

• Regulation 45()(a) of the Securities and Futures (Licensing and Conduct of Business) Regulations (which requires collateral to be provided by

NAB for certain securities lending transactions);

• the Notice on the Sale of Investment Products (which requires a Customer Account Review or a Customer Knowledge Assessment to be

performed before customers can deal in certain complex products known as “Specified Investment Products”).

Under the FAA, NAB will be exempt from:

• Section 25 of the FAA (relating to the disclosure of material information on collective investment schemes and life insurance policies);

• Section 27 of the FAA (which requires that there must be a reasonable basis for recommendations when making recommendations on

investment products to accredited investors); and

• Section 36 of the FAA (which requires the disclosure of interests when making recommendations on securities in a circular or other similar

written communication when sending a circular or other similar written communication in which a recommendation is made in respect of

securities).

Please take note that NAB will also be exempt from the following notices issued by the MAS pursuant to section 58 of the FAA:

• MAS Notice on Recommendations on Investment Products [Notice No. FAA-N6] (which sets out requirements which are to be complied with

when a financial adviser makes recommendations on investment products to clients);

• MAS Notice on Information to Clients and Product Information Disclosure [Notice No. FAA-N03] (which sets out the minimum standards a

financial adviser should meet in its product information disclosures and information to clients, and the type of information which must be

disclosed by such financial adviser to its client);

• MAS Notice on Dual Currency Investments [Notice No. FAA-N] (which sets out additional product information disclosures and warnings, as

well as prohibitions on the use of the term “deposit” when describing dual currency investments);

• MAS Guidelines on Structured Deposits [Guidelines No. FAA-G09] (which sets out additional product information, disclosures and warnings, as

well as training and competency requirements, segregation between activities pertaining to structured deposits vs fixed deposits);

• MAS Guidelines on Fair Dealing – Board and Senior Management Responsibility for Delivering Fair Dealing Outcomes to Customers [Guidelines

No. FAA-G] (which sets out guidelines for delivering fair dealing outcomes to customers); and

• MAS Guidelines on Switching of Designated Investment Products [Guidelines No. FAA-G0] (which provides guidance on the controls, processes

and procedures that the MAS requires a financial adviser to implement in order to monitor switching and ensure that its representatives do

not advise clients to switch from one designated investment product to another designated investment product in a manner that would be

detrimental to its clients).

Declaration Of Accredited Investor Status Page 2