Is my money and assets held with uSMART Securities Singapore Pte Ltd ("USPL") safe?

uSMART Securities Singapore Pte Ltd ("USPL") is licensed and regulated by The Monetary Authority of Singapore. Our licence can be found here. In compliance with sections 104 and 104A of the Securities and Futures Act 2001 (“SFA”) and Part III of Securities and Futures (Licensing and Conduct of Business) Regulations (“SF(LCB)R”), we protect your monies and assets by keeping them in client segregated accounts separated from our own with proper record keeping and controls put in place. Section 104A of the SFA provides that monies and assets belonging to customers are not available for payment of USPL debts and shall not be liable to be paid or taken in execution under an order or a process of any court. This means that USPL will never be able to use your funds and assets, even in the very unlikely event that USPL stops operating.

When you transfer money to USPL, your funds are held in a Trust Account with regulated financial intermediaries such as DBS Singapore and HSBC Singapore, kept separate from USPL’s own accounts. Our sub custodian for US securities is a broker-dealer registered with U.S. Securities and Exchange Commission and member of FINRA and the Securities Investor Protection Corporation (“SIPC”), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash).

All banks and counterparties engaged by USPL to deposit and hold clients' moneys and assets are regulated in their respective jurisdictions and may be members of Exchanges. USPL also performs due diligence on these counterparties to ensure adequate controls are in place to safe keep clients' moneys and assets.

All clients are also free to withdraw their money any time they wish. USPL does not impose any exit penalties or lock-in periods, so clients are genuinely able to access their money any time.