Elective Professional Client Sample Clauses

The Elective Professional Client clause defines the process and criteria by which a client can be classified as a professional client at their own request, rather than being treated as a retail client. This typically involves the client meeting certain experience, knowledge, and financial thresholds, and formally agreeing to forgo some of the regulatory protections afforded to retail clients. The core function of this clause is to allow sophisticated clients greater flexibility and access to a wider range of financial products and services, while also shifting some responsibility for risk assessment from the service provider to the client.
Elective Professional Client. Clients other than those mentioned in paragraph 1 (Professional clients per se) may be treated as professionals on request. The Company is allowed to treat any of the Retail Clients as Professional provided the relevant criteria and procedure mentioned below are fulfilled. Any waiver of the protection afforded by the standard conduct of business regime will be effected only if an adequate assessment of the expertise, experience and knowledge of the Client, undertaken by the Company, gives reasonable assurance, in light of the nature of the transactions or services envisaged, that the Client is capable of making his own investment decisions and understanding the risks involved. The fitness test applied to managers and directors of entities licensed under Directives in the financial field could be regarded as an example of the assessment of expertise and knowledge. In the case of small entities, the person subject to the above assessment should be the person authorised to carry out transactions on behalf of the entity. In the course of this assessment (fitness test), as a minimum, two of the following criteria should be satisfied: (a) the Client has carried out transactions, in significant size on the relevant market at an average frequency of 10 per quarter over the previous four quarters; (b) the size of the Client’s financial instrument portfolio, defined as including cash deposits and financial instruments exceeds EUR 500 000; (c) the Client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged. Before deciding to accept any request from a Retail client to be categorized as Professional, the Company is required to take all reasonable steps to ensure that the Client requesting to be treated as a Professional Client meets the relevant requirements stated above. In this respect, the Company may request supporting documents to serve as proof on the above criteria such as (this is not an exhaustive list) bank statements, reference letter from employer, trading history statement, etc.
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Elective Professional Client. If you have been classified as a Retail Client, you may request a reclassification as an “Elective Professional Client” in accordance with MiFID II and the Client Classification rules as set out in the Conduct of Business Rules (“COBS”) in the Handbook. Should you wish to request this alternative classification and your request be successful, we will have determined that you have sufficient experience and understanding to be classified as an Elective Professional Client. Schedule 2 to this Agreement details a written warning of the regulatory protections you will lose should your request for reclassification be successful. Further, signing the “Request for reclassification and further declarations” section of our “Elective Professional Client Application Form” will be treated as your understanding of your loss of protections and consent to reclassification as an Elective Professional Client. Our response to your request for reclassification will be notified to you (in writing or by email) further to our assessment of your eligibility.
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Elective Professional Client are: For an Elective Professional Client, the client must meet the certain criteria as required by the FCA. These • A client must pass a “Qualitative test” and we must assess their knowledge, experience and expertise to ensure they are capable of making their own investment decisions. • A client must also satisfy a “Quantitative test” and satisfy 2 of the following where applicable: o Client has carried out transactions, in significant size and averaged a frequency of over 10 trades per quarter in relevant market over the period of the last 12 months; o Value of investment portfolio and cash investments over EURO 500,000; o Be employed or had been employed in the relevant financial sector for over a year in a professional position which requires knowledge of the transactions or services envisaged;
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Elective Professional Client. A client, other than a local public authority or municipality, will be treated as an “elective” professional client, only at their request, and if we comply with 4.(1) and 4.(3) and, where applicable, 4.(2): 1) the client can evidence retention of the minimum requirements that we require in relation to expertise, knowledge and experience of trading in complex financial instruments (otherwise known as the “qualitative test”). Our adequacy assessment of these observable client actions provides us with reasonable assurance that the client can make their own investment decisions and understand the risks involved in such activity; 2) in relation to ▇▇▇▇▇/third country business, two of the below are satisfied (otherwise known as the “quantitative” test): a. the client has carried out transactions on the relevant market at an average frequency of 10 per quarter over the past four quarters; b. the size of the client’s financial instrument portfolio (defined as including cash deposits and financial instruments) exceeds EUR 500,000; c. the client works or has worked in the financial sector for at least one year in a professional position, in which requires knowledge of the transactions or services envisaged; and We reserve the right to request independent documentary evidence to support the above criteria. We will not permit clients to receive the elective classification to “professional” client if these criteria are not met. 3) the following procedure is followed: a. the client states in writing to us that they wish to be treated as a “professional” client, either generally or in respect of a particular service or transaction, or type of transaction or product; b. we give the client a clear written warning of the protections and investor compensation rights that the client may lose as a result of their reclassification request; and c. the client states in writing, in a separate document from the contract, that they are aware of the consequences of losing such protections.
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Related to Elective Professional Client

  • Continuing Professional Development If, during the life of the Agreement, Continuing Professional Development (CPD) is introduced for plumbers, all time spent in complying with the CPD obligations will be the responsibility of each plumber.

  • Local Professional Development Committee A. There shall be a Local Professional Development Committee (LPDC) to oversee, review, and approve individual professional development plans (IPDP) for course work, continuing education units and/or other equivalent activities. 1. The LPDC shall be responsible to recommend for the Superintendent’s approval, all in-service activities and workshops offered in the district during the school year for staff professional development. 2. Recommendations for District Workshops and In-Service activities should be submitted to the LPDC for approval and recommendation no later than the last school day of the year prior to the year it will be implemented. 3. The LPDC chair shall review and approve all “Professional Growth Reimbursement Application” forms. B. The LPDC shall consist of three (3) teachers appointed by the Association President and two (2) members appointed by the Superintendent. One of the Superintendent's appointees will be a Principal employed by the district. C. Appointments shall be for two (2) years with half of the committee members being appointed every other year. 1. Appointments shall be made on or before May 1. 2. The Appointments shall be made by each party outlined above, notifying the other of those appointed. 3. In the event of a vacancy, the committee members shall be replaced in accordance with "B." above. 4. The Association shall name a fourth teacher member and the Superintendent shall name a third administrative member to serve as alternates and attend trainings. These two (2) people shall act as substitutes when a committee member is absent. D. This committee shall meet monthly. 1. The committee may also be convened by the request of two sitting members. 2. A quorum shall consist of five (5) members. When administrative licenses/certificates are reviewed, two (2) sitting teacher members will abstain and the decision will be decided by three (3) members. 3. If the committee determines it is needed, they will be provided two (2) professional release days to meet during regular school hours. Substitutes will be provided for the committee members on these release days. 4. Committee members shall be provided an additional annual stipend of $1,000 for meetings beyond the normal work day or year. This stipend shall be paid in two (2) semi-annual payments. Any member who fails to serve the full year shall have the above compensation prorated on a monthly basis for each month served. 5. Decisions of the LPDC will be made by consensus of the committee members present. 6. The committee minutes shall be prepared and maintained in compliance with the laws governing the operation of committees of public bodies.

  • PROFESSIONAL COMPENSATION A. The basic salaries of employees covered by this Agreement are set forth in Schedule A which is attached to and incorporated in this Agreement. Teachers shall have the option of receiving their salary in 21 or 26 equal increments and shall elect their option by July 1 for salary disbursements in the succeeding year. The Board agrees to adhere to the salaries set forth in Schedules A, B, & C (except as provided in section D below) and any deviation shall be immediately adjusted upon being brought to the attention of the Board. B. An Employee shall be placed on the salary schedule step which gives credit for educational preparation and the number of full years of experience as allowed by this paragraph for placement on the salary schedule. All experience credited shall be added together, except as noted below. 1. Experience credit shall be awarded for K-12 teaching experience in either public or non-public schools governed by the provisions of a state teacher certification code. To be credited on the salary schedule for experience, the teacher shall have been a certified teacher during the time of their teaching employment. Experience credit shall not be awarded for practice (student) teaching, day-to- day substitute teaching, private nursery school (day care) teaching, intern teaching (other than in Brighton schools), or graduate assistant or fellowship teaching at colleges or universities whether or not the teacher was certified, or other similar experience. New hire experienced employees may be placed on the salary schedule step of the Board of Education's choosing; however, they shall not be placed on a step that exceeds their total experience. Less than full-time employees shall be notified that they have no rights to a full- time position. Teachers recalled from layoff who have gained additional teaching experience in accordance with the provision contained herein (B.1) shall receive salary increment steps provided they agree in writing to have their yearly salary reduced by the gross dollar amount they received in unemployment compensation while laid off. 2. To the extent allowed by law, employees hired previously shall advance to the next step on the salary schedule on the first day of each school year. To the extent allowed by law, employees newly hired will advance according to the following: a. Employees hired before November 1 shall advance to the next step, and subsequent steps, on the first day of the next school year. b. Employees hired after October 31 and before April 1 shall advance to the next step at the beginning of the second semester of the following school year (paid at a rate halfway between the two steps) and subsequent years (unless hired from a similar position in another educational institution and then they shall advance on the first day of the next school year). c. Employees hired after March 31 shall remain on the same pay step for the next school year only and shall advance to the next pay step and subsequent steps on the first day of the following year unless hired from a similar position in another educational institution and then they shall advance on the first day of the next school year). 3. Shared and/or abbreviated teaching schedules (see Article 11.C) may at times be beneficial both to the Board and the individual employee. Employees placed on abbreviated schedules shall receive one full year experience step. 4. To the extent allowed by law, an employee advancing from one salary track to another will be placed on the advanced salary track as follows (retroactive if new level is completed prior to start of the semester and verification is submitted by the required date): Beginning of the year – Proof is submitted by November 1 First day second semester – Proof is submitted by March 1 5. Criteria for MA+30: a. No duplication of classes previously taken. b. Course must be: 1) related to current or future teaching assignments 2) minor or major program 3) transcript from an accredited university c. Does not have to be a graduate level course. (It is the intent to have teachers show some relevance to current teaching assignments or potential future teacher assignment.) d. It is recommended that MA+30 program classes be discussed with the Assistant Superintendent for Human Resources. e. Credits for MA+30 must be earned after the BA/BS. C. The salary schedule is based upon the regular school year calendar as set forth in Schedule A and the normal teaching assignment as defined in the Agreement. Any teacher who accepts an additional class for the school year over and above the normal teaching load shall receive a prorated increase (e.g. - 1/5 for a five-hour teaching day or 1/6 for a six-hour teaching day) in their annual base teaching salary or fraction thereof. There shall be a prorating of additional salary for additional class assignments when such additional assignments are fulfilled on a regular basis for less than a full year. D. Employees appointed to extra duty assignments set forth in Schedule B which are attached to and incorporated in this Agreement, shall be compensated in accordance with the provisions of this Agreement without deviation. In the event no qualified bargaining unit member applies for a Schedule B assignment and the board hires a non- bargaining unit applicant, the level of compensation may be equal to or less than the salary established in Schedule B. E. Schedule C positions are those teaching assignments that involve work responsibilities beyond contract time and are not optional. Additional compensation for such work shall be paid in accordance with Schedule C. F. Current and active job descriptions for Schedule B and Schedule C positions will be on file with both the Association and the Administration. These job descriptions will also be accessible on their respective websites. G. Employees required in the course of their work to drive personal automobiles from one school building to another shall receive a reimbursement equal to the current IRS approved mileage rate. The same reimbursement shall be given for use of personal cars for approved field trips or other approved business of the district. Appropriate requests for payment of mileage and other expenses shall be turned in to the principal/director on a monthly basis, but at least once each marking period. ▇. Any employee resigning before the completion of the school year has the professional and legal obligation to reimburse the Board for all over-paid monies. I. Longevity – Employees having the following years of experience employed with Brighton Area Schools shall receive longevity payments in annual amounts as set forth below. By July 1, employees will elect whether to receive their longevity in their first October paycheck or their TSA (October). If the payroll department is not contacted by July 1, the employee’s longevity stipend will be paid out into their first October paycheck. J. Tuition reimbursement/PD/Conference cost reimbursement for required courses (to maintain certification) will be $85,000 annual pool, to be paid out in accordance with the conditions outlined in the tuition reimbursement form included in Appendix A. After all required course reimbursements are paid out, reimbursements for administratively approved professional development (e.g., flex PD, conferences, etc.) may be submitted and will be paid out in the order they were received, until the annual pool is exhausted. Only conference registration fees will be reimbursed.

  • Outside Professional Activities 18.6.1 The nature of the professional competence of many Members affords opportunities for the exercise of that competence outside the Member's regular university duties, on both remunerative and non-remunerative bases. Recognizing that such professional activities can bring benefits to and enhance the reputation of the University and the capacity of Members, the University agrees that Members have the right to engage in part-time professional activities, paid or unpaid, provided that such activities do not conflict or interfere with the Member's obligations, duties and responsibilities to the University as defined in this Agreement, except as provided in clause 18.6.3 and subject also to the following conditions: (a) When a Member's outside activities involve the use of the University's facilities, supplies or services, their use shall be subject to the prior approval of the University. Costs for such facilities, supplies or services shall be borne by the outside group at prevailing rates set by the University, unless the University agrees, in writing, to waive all or part of such costs. (b) The name of the University shall not be used in any related professional activity unless agreed, in writing, by the Vice-President: Academic, although nothing shall prevent the Member from stating the nature and place of his/her employment, rank and title(s) in connection with related professional activities, provided that he/she shall not purport to represent the University or speak for it, or to have its approval unless that approval has been given in writing. (c) A Member shall, upon written request from his/her ▇▇▇▇, provide all information on the nature and scope of related professional activities of a substantial nature, in so far as the information relates to a Member's duties and responsibilities as specified in this Article 18. 18.6.2 A Member shall not hold both a full-time appointment at the University and a full-time appointment at another institution or organization, except as provided in Article 17.8. 18.6.3 If the participation in activities described in clause 18.6.1 conflicts or interferes with the obligations, duties and responsibilities of the Member as defined in this Article 18, mutually satisfactory arrangements shall be made in advance between the Member and the Vice- President: Academic. Should the Member and the Vice-President: Academic fail to reach agreement, the Member is obliged to fulfil the duties and responsibilities set out in this Article 18.

  • Professional Development Fund Article 20