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Elective eligible counterparties - COBS Provision: Difference between revisions
Elective eligible counterparties - COBS Provision (view source)
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{{cobsanat|3.6.4}} | |||
{{mifid categorisation}} | {{mifid categorisation}} | ||
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*Those {{cobsprov|per se professional client}}s that are not {{cobsprov|per se eligible ECP}}s - ie that are {{cobsprov|elective ECP}}s - can only be treated as {{cobsprov|ECP}}s if ''they'' have requested this categorisation. Now one might, of course, gently put that idea in such a client's head: nothing wrong with that. Politely suggesting an elective ECP might wish to think about requesting an upgrade is one thing - but one cannot unilaterally categorise an elective ECP as an ECPwithout them first requesting it. | *Those {{cobsprov|per se professional client}}s that are not {{cobsprov|per se eligible ECP}}s - ie that are {{cobsprov|elective ECP}}s - can only be treated as {{cobsprov|ECP}}s if ''they'' have requested this categorisation. Now one might, of course, gently put that idea in such a client's head: nothing wrong with that. Politely suggesting an elective ECP might wish to think about requesting an upgrade is one thing - but one cannot unilaterally categorise an elective ECP as an ECPwithout them first requesting it. | ||
*an "elective professional client" (ie one is able to be ugraded from retail to professional) cannot further request to be treated as an {{cobsprov|ECP}}. | *an "elective professional client" (ie one is able to be ugraded from retail to professional) cannot further request to be treated as an {{cobsprov|ECP}}. | ||