Financial Blog

We made changes in the Participating Trust Agreement in both Individual and Micro, Small & Medium Enterprise/Corporate/Institutional UITF Kits.

EFFECTIVITY DATE: JANUARY 9, 2023

CHANGES

UITF Kit for Individual and Micro, Small & Medium Enterprise/Corporate/Institutional Accounts

1. Cover Page

To clearly state that only SB UITF Accredited Sales Person shall be responsible in the offer / marketing of the SB UITFs and to state that if you wish to ensure that the SB UITF Sales Person is an SB UITF Accredited Sales Person, you may ask for his/her SB UITF Sales ID.

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TO

2.Participating Trust Agreement

2^nd Whereas clause

Affirming that the Trustee is a duly UITF Marketing Personnel authorized to offer, market and sell UITF managed by it in accordance to BSP Circular 1018.

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3.Section 1

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TO

4.Section 11

For clarity, restated the provision, that in case the Fund itself is terminated OR if there is no outstanding investment in the FUND and that there is no activity for a period of two (2) years, your Agreement with SBC Trust and Asset Management Group shall be terminated.

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5.Section 14

Added Statement on application of and exemption from Cooling Off Period:

• Applicable to Individual and to Micro, Small and Medium Enterprise (MSME) accounts BUT exempted if participation is at least P500,000.00 or its US Dollar equivalent.
• Not applicable to corporate accounts.

FROM

TO – INDIVIDUAL ACCOUNTS

TO – MICRO, SMALL & MEDIUM ENTERPRISE/CORPORATE/INSTITUTIONAL ACCOUNTS

For more information, you may send an email to [email protected]