The following document explains how we treat accredited investors like you.
Bank of Singapore is expected to comply in delivering best execution in respect of certain financial instruments within the scope of requirements imposed by applicable laws and regulations in the locations we operate in.
We believe in transparency and being forthright with all clients and investors. We strive to disclose all information that could help you evaluate our strengths and understand the corporate governance of our Bank. We have a transparent governance structure that ensures the interests of all our stakeholders are protected.
In line with the culture of our parent company, OCBC, we are focused on building enduring relationships with clients by making fair dealing the basis of our business. In our dealings with you:
Fair dealing is embedded in the Purpose and Values that are the bedrock of both banks, especially in our Value of Integrity. These Values – the others are Customers, People, Teamwork, Prudent Risk Taking and Effectiveness – are continuously and consistently instilled as principles both to guide decisions and behaviour, and to inspire our people.
Bank of Singapore's Common Equity Tier 1 Capital Adequacy Ratio (CAR), Tier 1 CAR and Total CAR, as of 31 December 2023, were above the minimum 6.5%, 8% and 10% required by the Monetary Authority of Singapore, respectively.
The Bank has policies and controls that are designed to protect a counterparty’s confidential information. Please note that the Bank, as a regulated entity, has regulatory and other duties to supervise and control its business. The Bank shares information as necessary to fulfil these responsibilities and will respond to general and specific regulatory and other requests with which it is required to comply with. With regard to executed transactions, the Bank analyses this information on an individual and aggregate basis for a variety of purposes, including counterparty risk management.
List of insured deposits
Deposit accounts which are eligible for deposit insurance coverage under the Deposit
Insurance and Policy Owners’ Protection Schemes Act 2011.
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation ("SDIC"), for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. For more information, please refer to SDIC's consumer guide.
To enhance customer protection and efficiency of payment, the banking industry provides customers with an additional payment arrangement for property transactions as an alternative to the existing arrangement. This applies to refinancing transactions of residential properties in Hong Kong including car parking space in a residential building whether independently or together with a residential unit. This has been endorsed by the Hong Kong Monetary Authority.
The BOSWME Best Execution Policy is a document that provides the reasonable steps taken by us to obtain the best possible result for our clients, considering price, costs, speed, likelihood of execution and settlement, size, nature, or any other consideration relevant to order execution.
In addition to this, regarding the Top 5 Venue and Quality Report that informs our clients about how and if we achieve the best execution results for them, as per the ESMA public statement ESMA35-335435667-5871 from 13 February 2024 on the “Deprioritisation of supervisory actions on the obligation to publish RTS 27 reports after 28 February 2023”, the reporting obligation for investment firms set out in Article 27(6) of the MiFID II to publish annually information on the identity of execution venues and on the quality of execution (the Top 5 Venue and Quality Report) has been deleted pending implementation of the European Parliament adoption of the agreed MiFID II/MiFiR review Level 1 texts.
BOS Wealth Management Europe’s Environmental, Social and Governance (ESG) Disclosures issued in the context of the regulation on sustainability-related disclosures in the financial services sector ('SFDR').
BOSWME has developed best practices to address any conflict of interest, including potential or perceived conflicts. Internally, we have adopted a Conflict of Interest Policy in 2019 which is approved by the Board of Directors and reviewed annually.
Our declared objectives concerning conflicts of interest are as follows:
In case you would like to report a conflict of interest, you may do so by email to coi@boswm.com.
BOSWME encourages and protects employees (including candidates and former employees), clients, parties with whom the firm has a business relationship (e.g., vendors) who speak up when they encounter behaviour by or within BOSWME that either is or may be unethical, illegal or goes against our core values and principles.
Internally, we have adopted a Whistleblowing Policy in 2023 which is approved by the Board of Directors and reviewed annually.
The policy includes but is not limited to wrongdoings involving:
In case you would like to raise a concern, you may do so by email to whistleblowing@boswm.com.
Additionally, a dedicated whistleblowing procedure and reporting tool are available on the CSSF website which is the supervisory authority for professionals and products of the Luxembourg financial sector.
BOSWME is committed to promptly and thoroughly investigate and process any concern, grievance, or dissatisfaction in a timely manner and in the best interests of clients.
We invite you to address all complaints by either:
Please provide a brief description of the subject of the complaint, the current situation, and your contact details, as well as supporting documents if any, for your complaint to be investigated.
Your complaint will be handled promptly: A written acknowledgement of receipt will be sent to you within a maximum of 10 working days upon receipt of your complaint.
You will receive the final reply within 1 month. If we cannot meet this deadline, you will be informed of the reasons for the delay and an indicator of the date on which the processing of the complaint is likely to be completed.
If you have not received a satisfactory reply or any reply within the set deadline, you can apply for an out-of-court resolution of your complaint with the CSSF. You will find all the relevant information as well as the form to be completed on the CSSF's website at: https://reclamations.apps.cssf.lu
BOSWME maintains secrecy of the information entrusted to us by clients in the context of our professional activity or mandate, as provided by Article 41 of the Luxembourg Law of 5 April 1993 on the financial sector.
Outsourcing table
The outsourcing arrangements of BOSWME involving the disclosure of client information subject to professional secrecy obligations are detailed in this document (e.g., the relevant services, the type of information to be disclosed in this context and the country of establishment of the service provider).
