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Notice of Treatment as an Elective Professional Client
Under the rules of the Financial Conduct Authority (ìFCAî) we are proposing to categorise you as an Elective Professional Client, for all services listed on this site, on the basis of your experience and understanding of and of the risks involved. We are proposing to categorise you as an Elective Professional Client on the basis that we have undertaken an assessment of your expertise, experience and knowledge and it gives reasonable assurance, in light of the nature of the transactions or services envisaged, that you are capable of making your own investment decisions and understanding the risks involved (the ìqualitative testî);
Under the rules of FCA we are required to set out details of the protections that you will lose by virtue of this categorisation and to seek your written consent to be categorised as an Elective Professional Client. By being categorised as an Elective Professional Client you will lose the protections of the rules which only apply to Retail Clients.
In particular you should note that rules relating to the following areas do not apply, or only partially apply to Elective Professional Clients: ï Communicating with clients, including financial promotions: As an Elective Professional Client the way in which we communicate with you may be different to the way in which we would communicate with a Retail Client. However, we must still ensure that our communications with you are fair, clear and not misleading. ï Distance Communications As an Elective Professional Client it is possible that you may not meet the definition of a ìconsumerî. If this is the case then the requirements relating to distance communications will not apply. ï Information about firm, its services and remuneration There are specific pieces of information about the firm, our services and remuneration that we must provide to Clients. We are obliged to provide information on these areas to all clients but the level of detail, medium and timing of the provision is less specific for those clients that are not Retail Clients. ï Client agreements As an Elective Professional Client we are required to have a client agreement with you. However, the medium or this agreement and the timeframe within which is must be agreed are more flexible than they would have been if you were a Retail Client. ï Appropriateness For transactions where we do not provide you with a personal recommendation, as on this site, we may be required to assess whether the transaction is appropriate for you. In these instances we are entitled to assume that, in relation to the products, transactions and services for which you are classified as an Elective Professional Client that you have the necessary level of experience and knowledge to understand the risks involved in the transaction. ï Reporting information to clients When providing confirmation that we have carried out your order, the timeframe we have to do so is greater than if you were a Retail Client. Finally, you should note that the services of the Financial Ombudsman Service may not be available to you as an Elective Professional Client unless you are a natural person acting for purposes acting your profession, business or trade. If you agree to be categorised as an Elective Professional Client please tick the box below and provide an electronic signature in the box below. Notice of treatment as an Elective Professional Client for the purposes of the FCAís rules on the basis of experience and understanding
I wish to be treated as a professional client for the services provided via this site.
I am aware of the consequences of the protections I lose under the regulatory system as a result of this categorisation.