Changes to the “Accredited Investor” regime in Singapore

Key changes to the Accreditor Investor (“AI”) regime, as introduced by the Securities and Futures (Amendment) Act 2017 (“SFAA”), have successively come into force. In summary, the key changes to the AI regime are as follows: (1) an update to the definition of an AI, (2) the introduction of a new opt-in process for eligible persons or entities to choose whether to be treated as an AI or retail investor, and (3) an opt-out process for existing clients of financial institutions (“FIs”) to opt-out of being treated as an AI. In this article, we will look at these changes to the AI regime, as well as the consequential implications of choosing to be treated as an AI.