Where Gold Pomelo (“GP”) is required to do so under the PS Act, GP has implemented safeguarding measures for the funds held on behalf of the Client.
These funds are held in a customer segregated account ("Trust account") that GP maintains with Standard Chartered Bank Ltd. in Singapore, as mandated by Applicable Regulations.
The Client's funds in this Trust account are protected against any debt GP owes to Standard Chartered Bank Ltd. and are kept separate from any other accounts GP holds with Standard Chartered Bank Ltd. Typically, client funds in the Trust account are commingled with funds from other GP customers.
It is not possible to identify any specific portion of the funds in the Trust account as belonging to a particular Client, and these funds could be used to meet obligations of other customers. If Standard Chartered Bank Ltd becomes insolvent, although the funds in the Trust account do not belong to Standard Chartered Bank Ltd, the Client might face delays or be unable to recover the full amount of their funds.
In case of any shortfall or loss beyond GP's control, the funds in the Trust account may have to be divided among all GP customers, which may result in the Client not recovering the full amount held on their behalf. Any interest earned in the Trust account will accrue to the Client.
