How are my international shares and cash held?
You are the beneficial owner of all international holdings held through Selfwealth. Your shares are held in custody with Phillip Securities Pte Ltd, and your cash is held in a Phillip Capital trust account with Standard Chartered. Selfwealth has no beneficial ownership or rights over your holdings or cash.
What happens to my holdings and cash if Selfwealth goes out of business?
In the unlikely event that Selfwealth enters administration or bankruptcy, you would be able to continue trading directly with Phillip Capital Limited (PCL), ensuring your holdings and cash remain accessible.
What happens to my holdings and cash if PhillipCapital goes out of business?
In the unlikely event of a default by Phillip Capital Limited (such as bankruptcy or administration), you — as the beneficial owner — would be entitled to claim your securities directly from the relevant omnibus account, provided there is no dispute over ownership.
In the event of a default by Phillip Securities Pte Ltd (the sub-custodian), Phillip Capital Limited would take appropriate steps on behalf of all beneficial owners to submit a claim to the liquidator. This process would be subject to the applicable liquidation procedures at that time.
About our partners:
- Phillip Securities Pte Ltd is a member of the Singapore Stock Exchange and a regulated entity under the Monetary Authority of Singapore. For more information, visit mas.gov.sg.
- Phillip Capital Limited is a participant of ASX Group and Chi-X Australia, regulated by ASIC.