Financial consumers play an essential role in maintaining the integrity of the financial system and safeguarding their own interests. Below are the responsibilities of financial consumers:
1. Informed Decision-Making. COL has made available information on its products and services both online and through its various seminars and events. Financial consumers should proactively seek information about these products and services before making any investment decision. This includes reading the terms and conditions, fees, and risks associated with such products and services as well as the applicable contracts, agreements, and disclosure documents.
When considering investment opportunities, financial consumers should exercise caution, conduct thorough research, and seek advice from licensed representatives and their own advisors, if needed.
2. Provide Accurate and Updated Information. Financial consumers must provide accurate and updated information to allow COL to comply with its know-your-client requirements. Financial consumers must keep their information and IDs with COL updated and notify COL within 30 days of any change in their information. In the absence of any change, financial consumers must still update their account information at least once every 2 years or upon request.
Financial consumers must also provide accurate and sufficient information about their knowledge, experience, financial situation, financial capability (including their ability to bear losses), and investment objectives (including their risk tolerance) to allow COL to conduct its suitability assessments as required under relevant regulations. Without sufficient information regarding a financial consumer’s financial knowledge and experience, COL is not in a position to accurately determine whether a product or service is appropriate to the consumer.
3. Safeguard Personal Information. Financial consumers should protect their personal and financial information, including e-mails, passwords, account numbers, and identification details from unauthorized access or disclosure. Financial consumers are also responsible for maintaining the security of the system they used to access the internet.
4. Promptly Report Irregularities. Financial consumers should promptly report any unauthorized activities on their accounts, including receipt of unexpected funds in their accounts, to mitigate potential losses. COL’s Fraud team may be contacted through email: security@colfinancial.com or live chat at COL’s Contact Us page at www.colfinancial.com.
5. Review Emails, Ledgers, Confirmation Statements, and other Correspondences. Financial consumers must regularly review their correspondences from COL and periodically log-in to their account. By going through the e-mails, ledgers, confirmation statements, transaction notifications, correspondences, and other relevant documents, financial consumers will be able to participate in various activities, such as shareholders’ meetings, follow-on offers, initial public offering, and tender offers, and they may also be able to identify any discrepancies or unauthorized transactions and take timely action.
6. Deal with Authorized Representatives. Financial consumers must only deal with authorized representatives of COL whose names and photos have been published in the COL website. If a financial consumer is unsure about the status of the person they are dealing with, they must undertake the necessary due diligence by contacting COL’s helpdesk at email: security@colfinancial.com or live chat at COL’s Contact Us page. Financial consumers must interact with COL and its personnel in a professional and respectful manner.
7. Comply with Law, Contract, and Procedures. Financial consumers must fulfil their financial obligations by submitting the required documents and paying for their subscriptions, margin loans, and processing fees, if any, on time. They must also comply with applicable laws and regulations, such as the disclosure requirements for beneficial owners and the prohibition against engaging in manipulative practices, fraudulent practices, and insider trading, among others. Financial consumers must likewise follow the procedures of COL for their requests to be processed. Finally, financial consumers should not sell or share materials made available to them by COL, including research materials.