Categorization. According to Applicable Regulations, the Company must classify its Clients in one of the following categories: Retail Client, Professional Client or Eligible Counterparty. It is noted that the Company treats all of its Clients as Retail Clients. Where a CIF treats a Client as a Retail Client, the Client is entitled to more protections under the Law, than if the Client was treated as a Professional Client. You have the right to request a different method of categorization as is explained under the Client Categorization Policy found on the Company’s Website. However, if you request a different categorization and the Company agrees to such categorization, you accept that the level of protection that is afforded by CySEC Regulations and other Applicable Regulations may differ. The Company cannot enter into title transfer financial collateral arrangements with Retail Clients. Remuneration practices which could provide an incentive to the Company’s staff to recommend a particular financial instrument to a Retail Client when the Company could offer a different financial instrument which would better meet that Client’s needs are also prohibited. In the case of Professional Clients and Eligible Counterparties, the Company may agree to provide more limited information as provided by Applicable Regulations. It is understood that under the Law, the Company has the right to change its policy and accept other categories of Clients as well and hence review the Client’s Classification and change his/her Classification if this is deemed necessary (subject to Applicable Regulations and appropriate notification to the Client).You accept that when categorizing you and dealing with you, the Company will rely on the accuracy, completeness and correctness of the information provided by you in your Account Opening Application Form and the Financial Suitability Questionnaire. You have the responsibility to immediately notify us in writing if such information changes at any time thereafter.
Appears in 2 contracts
Sources: Client Agreement, Client Agreement
Categorization. According to Applicable Regulations, the Company must classify its Clients in one of the following categories: Retail Client, Professional Client or Eligible Counterparty. It is noted that the Company treats all of its Clients as Retail Clients. Where a CIF treats a Client as a Retail Client, the Client is entitled to more protections under the Law, than if the Client was treated as a Professional Client. You have the right to request a different method of categorization as is explained under the Client Categorization Policy found on the Company’s Website. However, if you request a different categorization and the Company agrees to such categorization, you accept that the level of protection that is afforded by CySEC Regulations and other Applicable Regulations may differ. The Company cannot enter into title transfer financial collateral arrangements with Retail Clients. Remuneration practices which could provide an incentive to the Company’s staff to recommend a particular financial instrument to a Retail Client when the Company could offer a different financial instrument which would better meet that Client’s needs are also prohibited. In the case of Professional Clients and Eligible Counterparties, the Company may agree to provide more limited information as provided by Applicable Regulations. It is understood that under the Law, the Company has the right to change its policy and accept other categories of Clients as well and hence review the Client’s Classification and change his/her Classification if this is deemed necessary (subject to Applicable Regulations and appropriate notification to the Client).You accept that when categorizing you and dealing with you, the Company will rely on the accuracy, completeness and correctness of the information provided by you in your Account Opening Application Form and the Financial Suitability Questionnaire. You have the responsibility to immediately notify us in writing if such information changes at any time thereafter. The Company’s services and products traded are offered only to individuals who are 18+ years old (and at least the legal age in your jurisdiction). You warrant that you are at least 18 years old and of legal age in your jurisdiction to enter into a binding contract, and that all registration information you send us is accurate and honest. We, the Company hold the right to ask for proof of age from you please note that your account may be suspended until the Company is content that satisfactory provision of proof of age is provided. The Company may change its eligibility criteria at any time or, refuse to offer its products and services to any person or entity in its sole discretion. A reference in this Agreement to a “clause” or “Schedule” shall be interpreted as a reference to, respectively, a clause or Schedule of this Agreement, unless the context requires otherwise. References in this Agreement to any statute or statutory instrument or Applicable Regulations include any modification, amendment, extension or re-enactment thereof. A reference in this Agreement to “document” shall be construed to include any electronic document. The masculine includes the feminine and the neuter and the singular includes the plural and vice versa as the context admits or requires. Words and phrases defined in the CYSEC’s Rules and the Applicable Regulations have the same meaning in this Agreement unless expressly defined in this Agreement.
Appears in 1 contract
Sources: Client Agreement