QUOTE(Macau @ Apr 27 2016, 08:01 PM)
I wrote to KGI about your question, below is their reply:
Security of Money
· KGI Ong Capital Singapore is currently regulated under the MAS rules and regulations, and MAS has a specific requirement that we would have to segregate client funds in a separate trust account. As such, we can never, and cannot co-mingle our own funds with our client funds.
Regulations are like rules. It can be broken. They show the regulators that they segregate the accounts but regulation does not prevent them from dipping their hands into the cookie jar like what MF Global did. They also had segregated account but they also dip their hands into it. Usually by the time the regulatory body finds out, it's already too late.Security of Money
· KGI Ong Capital Singapore is currently regulated under the MAS rules and regulations, and MAS has a specific requirement that we would have to segregate client funds in a separate trust account. As such, we can never, and cannot co-mingle our own funds with our client funds.
Apr 27 2016, 08:22 PM
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