Common use of Elective Professional Client Clause in Contracts

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;