Professional client: Difference between revisions
Jump to navigation
Jump to search
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 6: | Line 6: | ||
There is some overlap with the other {{tag|MiFID}} categorisations. An {{cobsprov|elective professional client}} is a subset of the class of {{cobsprov|retail client}}s; an {{cobsprov|eligible counterparty}} is a subset of {{cobsprov|per se professional client}}s. | There is some overlap with the other {{tag|MiFID}} categorisations. An {{cobsprov|elective professional client}} is a subset of the class of {{cobsprov|retail client}}s; an {{cobsprov|eligible counterparty}} is a subset of {{cobsprov|per se professional client}}s. | ||
There is a handy [[Media:Decision Tree - Categorisation.pdf|decision tree]] | There is a handy [[Media:Decision Tree - Categorisation.pdf|decision tree]] above. | ||
Revision as of 17:14, 5 November 2018
|
The JC’s Reg and Leg resource™
UK Edition {{{2}}}
|
MiFID Categorisation
- Professional clients: per se professional client | elective professional client
- ECPs: per se eligible counterparty | elective eligible counterparty | COBS 1 Annex 1 for disapplication of COBS rules to ECPs
- Retail client: See COBS 3.4: one who is not a professional client or an ECP
- Categorisation decision tree (pdf)
Under the COBS rules, a professional client is one who is categorised as either a per se professional client, or an elective professional client.
There is some overlap with the other MiFID categorisations. An elective professional client is a subset of the class of retail clients; an eligible counterparty is a subset of per se professional clients.
There is a handy decision tree above.