Common use of Elective Professional Client Clause in Contracts

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.