TREATMENT OF ACCREDITED INVESTORS
1. GENERAL
1.1. LabyrinthX Technologies Pte. Ltd. (“LT”) and HydraX Digital Assets Pte. Ltd. (“HDA”) are required by Singapore law to provide you with certain information before you make a decision on whether you wish to be treated as an Accredited Investor (as defined in section 4A of the Securities and Futures Act 2001 (the “SFA”).
1.2. Please be informed that:
1.2.1. you have been preliminarily assessed to be an “Accredited Investor” as defined in section 4A of the SFA based on the information you have provided to us (subject always to our final assessment of your eligibility);
1.2.2. you may, but are not obliged to, consent to being treated by us as an Accredited Investor under regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2018; and
1.2.3. you may withdraw your consent to being treated as an Accredited Investor at any time, in which case we will cease to treat you as an Accredited Investor after we have provided confirmation in writing to you of your removal of Accredited Investor status.
1.3. General warning: Accredited Investors are assumed to be better informed, and better able to access resources to protect their own interests, and therefore require less regulatory protection. Investors who agree to be treated as Accredited Investors therefore forgo the benefit of certain regulatory safeguards. For example, issuers of securities are exempted from issuing a full prospectus registered with the Monetary Authority of Singapore in respect of offers that are made only to Accredited Investors, and intermediaries are exempted from a number of business conduct requirements when dealing with Accredited Investors. Investors should consult a professional adviser if they do not understand any consequence of being treated as an Accredited Investor.
1.4. Accredited Investors will also be allowed to execute trades on AGX, as operated by LT, which is a recognised market operator under the SFA, and is subject to less stringent regulations than approved exchanges (as defined in the SFA).
2. REGULATORY SAFEGUARDS THAT DO NOT EXTEND TO ACCREDITED INVESTORS
2.1. When we deal with you as an Accredited Investor, we would be exempt from complying with certain requirements under the SFA, and certain regulations and notices issued thereunder.
2.2. Please note that these regulatory requirements that we are exempted from when dealing with you as an Accredited Investor may be amended and updated from time to time due to regulatory changes or otherwise. Any amendments and updates will be set out via an updated Notice, or made available on our website as such link as may be notified to you.
2.3. These regulatory requirements are summarised below.
3. CONSEQUENCES OF NOT CONSENTING OR WITHDRAWING YOUR CONSENT TO BE TREATED AS AN ACCREDITED INVESTOR
3.1. Under HDA’s CMSL, HDA is only permitted to conduct dealing and custodial services in relation to Accredited Investors and Institutional Investors. If you do not consent to be treated as an Accredited Investor, or if you consent to be treated as an Accredited Investor and subsequently withdraw your consent, HDA will not be able to offer you access to HDA’s trading and custodial services unless you are also an Institutional Investor as defined in the SFA.
3.2. Under LT’s recognition as a recognised market operator under the SFA and exemption from operating an organised market for a collective investment scheme (as defined under section 2(1) of the SFA), the property of which consists solely of non-capital market products, if you are a person in Singapore, LT is only permitted to offer you access to trade on AGX if you are an Accredited Investor, Professional Investor (as defined in Annex 1) or Expert Investor (as defined in section 4A(1)(b) of the SFA). If you are a person in Singapore and you do not consent to be treated as an Accredited Investor, or if you consent to be treated as an Accredited Investor and subsequently withdraw your consent, LT will not be able to offer you access to trade on AGX unless you are also a Professional Investor or Expert Investor.
