As a regulated financial institution, Alta Alternative Investments Pte. Ltd. (“Alta”; “we”; “us”) is required under Singapore law to inform you of certain things before you confirm whether you wish to opt in to being treated by us as an accredited investor (“AI”) as defined in section 4A(1)(a) of the Securities and Futures Act (the “SFA”) and regulation 2 of the Securities and Futures (Prescribed Specific Classes of Investors) Regulations 2018 (the “SFCIR”).
Please therefore note that:
i. based on the information you have provided to us, we have assessed you to be an “accredited investor” as defined in the SFA or the SFCIR as applicable;
ii. you may, but are not obliged to, consent to being treated by us as an AI in relation to all your dealings with Alta;
iii. if you consent to the treatment outlined in paragraph 1(b) above, you may withdraw this consent at any time.
Please note that should you consent to being treated as an AI by us, you will have fewer regulatory protections than retail investors will have under Singapore law.This is because under Singapore law, AIs are deemed to be sufficiently knowledgeable or experienced in managing their financial affairs (whether directly or through professional advice); better able to access resources to protect their own investment interests, and therefore suitably well-placed to understand and manage investment risks.The Singapore legal regime therefore accords fewer regulatory protections and statutory remedies to AIs than to retail investors.
Should you consent to being treated as an AI by us, we:
i. will be allowed to assume that you have an adequate level of understanding of financial products for purposes of participating in investment opportunities available on our platform;
ii. will not be obliged to determine your precise level of understanding of, or suitability for, such products under any circumstances;
iii. and will be allowed to assume that you have sought independent professional (including legal, financial, and tax) advice prior to purchasing any financial instrument or participating in any investment opportunity through us.
AIs 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 AIs 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 AIs, and intermediaries are exempted from a number of business conduct requirements when dealing with AIs. Investors should consult a professional adviser if they do not understand any consequence of being treated as an AI.
You may withdraw your consent to being treated as an AI by Alta at any time during your relationship with us. We will cease to treat you as an AI within five (5) business days of receiving notice of your withdrawn consent. Please note that such withdrawal of consent may mean that we will need to treat you as a retail investor. If that is the case, the amount of information we can share with you, including information on investment opportunities on our platform, will be limited. Your activities on our platform will also be limited. You will not, for example, be able to see full details of fundraising companies or participate in any investment opportunity.
This restriction is because we are licensed to deal only with persons who qualify as AIs or institutional investors under Singapore law.If you withdraw your consent, you will be unable to access the full set of resources and information on our platform unless you (i) opt in once more to being treated as an AI or (ii) inform us that you wish to qualify as an institutional investor (as defined in section 4A(1)(c) of the SFA or regulation 4 of the SFCIR) instead.
In proceeding with this process, you confirm that you have read the above in full and:
i. are aware of and understand the consequences of consenting to being treated as an AI by Alta;
ii. consent to being treated as an AI by Alta;
iii. know that you may at any time inform Alta that you no longer consent to being treated as an AI by Alta;
iv. and are aware of and understand the consequences of withdrawing your consent to being treated as an AI by Alta.
You further represent and warrant that the information, documents, and confirmations you provide to us in relation to your AI status and your consent to being treated by us as an AI are complete, true, and accurate.If there is any change in circumstances that may affect (i) any of the declarations or representations made to us or (ii) your ability to meet the requirements of an AI under Singapore law, you undertake to inform Alta within five (5) business days of each such change in circumstances. If any such change cannot be suitably remedied, you acknowledge and accept that Alta has full discretion to decide to refrain from treating you as an AI.