Elective eligible counterparties - COBS Provision: Difference between revisions

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Elective eligible counterparties - COBS Provision (view source)

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-The famous "{{cobsprov|elective ECP}}" categorisation. As you'll see from the snapshot below:
+{{cobsanat|3.6.4}}
-*Many {{cobsprov|per se professional client}}s are also {{cassprov|per se eligible counterparties}} - but not all.
+{{mifid categorisation}}
-*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}}.
-{{cobssnap|3.6.4}}
+The famous “{{cobsprov|elective ECP}}” categorisation:
+*Many {{cobsprov|per se professional client}}s are also {{cobsprov|per se eligible counterparties}} — but not all.
-{{anat|cobs}}
+*Those {{cobsprov|per se professional client}}s that are not {{cobsprov|per se eligible counterparties}} — i.e., 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 ECP without them first requesting it.
+*an “{{cobsprov|elective professional client}}” (ie one is able to be upgraded from retail to professional) cannot further request to be treated as an {{cobsprov|ECP}}.