Dear appointed FA/CMS representatives, kindly take note of the following:

1. CHANGE IN PERSONAL PARTICULARS

In the event that there are changes to your personal particulars, kindly fill in the appropriate form (FAA
Form 18/SFA Form 16) and submit to compliance. The particulars must be submitted to Compliance
within 7 days from the date of change. Failure to update is a breach of regulation.

The particulars include:

Name
Address
Contact numbers
email address
Nationality
IC number
Passport number
Details of spouse in the event that the license holder got married
Change in shareholdings
Change in directorship

2. TRAINING RECORDS

A. Representatives who are appointed to offer

i. advice and/or market collective investment schemes; and/or
ii. advice concerning securities (excluding collective investment scheme); and/or
iii. advice on and/or arranging life policies (whether or not including investment linked policies)

must fulfil a minimum of 30 hours of structured CPD training annually.

Out of the 30 annual CPD training hours required, representatives must complete at least
i. 4 hours of training in Ethics; and
ii. 8 hours of training in Rules and Regulations

Only training hours of courses in Ethics or Rules and Regulations, or both (as the case may be), which are
accredited by IBF or SCI will be counted towards meeting the minimum requirements above.

Representatives who can also advise on and/or arrange contracts of insurance in respect of shield plans
must complete at least 2 hours of structured CPD training on
i. Medishield Life Scheme content,
ii. Shield plan content, or
iii. A combination of (i) and (ii)
These 2 hours can form part of the total annual CPD hours required.

B. Representatives who are also Insurance broking staff must attain 38 hours of structured CPD training
annually.

Out of the 38 annual CPD training hours required, representatives must complete at least
i. 4 hours of training in Ethics;
ii. 8 hours of training in Rules and Regulations; and
iii. 8 hours in General Insurance

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C. Representatives who are appointed to deal in securities or in fund management are required to
complete a minimum of 20 hours of training per annum, and are not subject to the training hours
required in Ethics and Rules and Regulations.

Core CPD Hours Supplementary General Total CPD

CPD Hours Insurance Hours
Ethics Rules & (including 2 hrs Required
regulation on Health
Insurance, if
applicable)
All appointed reps 4 8 18 NA 30

Appointed reps who 4 8 18 8 38

also provide advice
on general
insurance
Appointed reps who NA NA 20 NA 20
only deals in
securities
Appointed reps for NA NA 20 NA 20
Fund Management
CPD hours earned in excess of the minimum required for the year cannot be carried over to the following
year.

Representatives are responsible for meeting the minimum CPD requirement each year. It is your
responsibility to update your training records on a regular basis. It is advisable to update each time you
have completed a training or seminar. Failure to fulfill the training requirements may result in a cessation
in your appointment as a representative of the Company.

Updating of training records:

You can update your training records on the intranet.

- go to “Regulatory Management Systems” (RMS)

- click on "Update staff training record" under training records section
- read the training requirement and click on the "Update" button
- key in the details of the training you have attended accordingly.

Do let Compliance department know if you encounter any problem updating your training records in the
system. You will be answerable to the management should you fail to meet the training requirements.

Note:
 For in house trainings attended (monthly morning meeting, EMAC and IPC), you MUST sign off on
the attendance sheets maintained by Account Management.
 For external trainings/courses/seminars attended, submit a COPY of the attendance sheet/certificate
of participation (or any other proof of attendance) to compliance together with your annual
declaration.

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3. REGISTER OF INTEREST IN SECURITIES

All appointed representatives are required to maintain a register of interest in securities. You are
required to maintain the register in the office and it is your duty to record within 7 days after the
acquisition or disposal or change in your holdings. The fields concerned are:

Trade date
Full name of securities
Name of broker
Unit price
No. of units acquired
No. of units disposed
Balance in units
Manner in which securities are acquired or disposed

A properly completed copy of the register is to be attached together with your Annual Declaration. The
register (FAA Form 12/SFA Form 15) has to be submitted to Compliance department together with your
Annual Declaration.

4. NON-FINANCIAL ADVISORY ACTIVITIES

Appointed representatives are prohibited from conducting any of the following types of activities:

(i) carrying on or holding himself out in any way as carrying on the business of moneylending, or
investing in or holding any interest in moneylending business;

(ii) organising, promoting or conducting a casino marketing arrangement in or with respect to

any casino, or acting as an associate of or being concerned or engaged or employed by an
international market agent or an applicant for an international market agent licence, or investing
in or holding any interest in business of any international market agent;

(iii) exercising or carrying on the business of an estate agent, or holding himself out or acting as
an estate agent, or being concerned or engaged or employed in the business of an estate agent,
or acting or holding himself out as a salesperson for any licensed estate agent, or investing in or
holding any interest in business of an estate agent.

(iv) marketing any product which is not an investment product

Besides the prohibited activities listed above, appointed representatives should inform and obtain
approval from iFAST Financial Pte Ltd before conducting any other types of non-financial advisory
activities.

5. BALANCED SCORECARD FRAMEWORK

All FA appointed representatives are to note that they will be subjected to the Balanced Scorecard (BSC)
Framework. Under the BSC framework, appointed representatives will need to meet non-sales key
performance indicators (KPIs) such as providing suitable product recommendations and making proper
disclosure of material information to customers. Your performance measured against these non-sales

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KPIs will in turn affect your remuneration. Supervisors of representatives will also have their
remuneration affected by their representatives’ performance under the BSC framework.

The Independent Sales Audit (ISA) unit will be responsible for carrying out post-transaction checks
(documentation review and client survey) on every sampled transaction in each calendar quarter in
order to review and assess the quality of financial advisory services provided by each representative.
Based on the work and inputs provided by the ISA unit, every representative and supervisor will be
graded according to a Representatives’ Grading Table and Supervisors’ Grading Table respectively. The
number and type of infraction(s) discovered by the ISA unit will determine the grading. Infraction means
a failure to meet any of the non-sales KPIs. The grading will in turn have an impact on the remuneration
of the representatives and supervisors. Where applicable, the company has the right to recover any
portion of the representative’s or supervisor’s remuneration which they are not entitled to under BSC
framework, but which have already been paid out before determining the grading and the impact on the
representative’s or supervisor’s remuneration.

The impact of BSC framework on your remuneration is as follow, whichever applicable:

a) Employees with fixed and variable component – full variable component and related year-end
bonus will be subject to BSC framework.
b) Employees with no fixed component – 60% of the income will be subject to BSC framework.
c) Employees with fixed component only – performance under the BSC framework will be factored
into the representative’s year-end remuneration and promotion review.

Dual Role
Employees who assume dual function (ie. that of a representative and a supervisor) will be evaluated by
both representative and supervisor gradings. The income or variable component and related year-end
bonus will be affected by the representative grading while promotion and salary increment will be
affected by the supervisor grading.

Avenue of Appeal
You will be given 2 weeks from the date of results dissemination to appeal on the grading results. An
appeal can be made in writing to HR by stating the matter of appeal e.g. the classification of infraction(s),
BSC grade assigned. The CEO will make the final decision on the outcome of the appeal.

Please also refer to the Notice on Requirements for the Remuneration Framework for Representatives
and Supervisors (BSC Framework) and Independent Sales Audit Unit [FAA-N20] and Guidelines on the
Remuneration Framework for Representatives and Supervisors (BSC Framework), Reference Checks and
Pre-transaction Checks [FAA-G14] for more details.

6. OTHERS

All appointed representatives are required to ensure compliance with MAS “Notice on Minimum Entry
and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial
Advisers [Notice No. FAA-N13]” at all times. It is your duty to ensure your advisory activities are strictly
limited to your appointed licensed activities and the minimum examination requirements.

7. PENALTIES

Disciplinary process on the following non-compliant events has been changed with effect from Jan 2018:

(a) Did not maintain training register in RMS

(b) Did not maintain a register of interest, or one that is full of errors
(c) Did not complete annual declaration within given time
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(d) Did not pass Compliance Quizzes after 3 attempts
(e) Did not attend the required annual sales training
(f) Did not comply by Staff Trading Policy
(g) Did not meet required training hours
(h) Did not attend the required product training
(i) Did not inform Compliance of change in particulars within 7 days of change
(j) Placing the company at risk for potential regulatory breaches/actual breach eg. breaching of PDPA

Based on the above mentioned events, the revised disciplinary actions will be as follow:

For (a) to (f),

First time offender will be fined $50
Second time offender will be fined $100
Third time offender will be fined $250 and PDR results will be affected
Fourth time offender will be fined $500, PDR results will be affected, and a warning letter will be issued
Fifth time offender will be terminated

For (g) to (j),

First time offender will be fined $150
Second time offender will be fined $300 and PDR results will be affected
Third time offender will be fined $500, PDR results will be affected, and a warning letter will be issued
Fourth time offender will be terminated

Acknowledged by:

……………………………..………..………..
Representative no.: SR - 300394638

Name: Seng Renfu Marcus

Date: 19 March 2018