Client Categorization. 4.1. According to Applicable Regulations, the Company has to categorize its Clients in one of the following categories: Retail Client, Professional Client or Eligible Counterparty. The categorization shall depend on the information provided by the Client in his Account Opening Application Form and according to the method of categorization as this method is explained under the document titled “Client Categorization Policy”. By accepting this Agreement, the Client accepts the application of such method of categorization. The Company will inform the Client of his categorization according to Applicable Regulations. The Client has the right to request a different categorization as per the provisions of the document titled “Client Categorization Policy”. Categorization as a retail client offers greater protection. Retail clients are entitled to more detailed information under Applicable Regulations. Specific information for the protections of Retail clients can be found in the document titled “Client Categorization Policy”. The Company cannot enter into title transfer financial collateral arrangements with retail clients. Renumeration 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. 4.2. The Client accepts that when categorizing the Client and dealing with him, the Company will rely on the accuracy, completeness, and correctness of the information provided by the Client in his Account Opening Application Form and the Client has the responsibility to immediately notify the Company in writing if such information changes at any time thereafter. 4.3. It is understood that the Company has the right to review the Client’s categorization and change his categorization if this is deemed necessary by the Company (subject to Applicable Regulations). 4.4. Subject to the provisions of the Law and any applicable legislation, the Company may be excluded from certain of its obligations under Applicable Regulations or the Agreement in the event where the Client is categorised as an Eligible Counterparty. Nothing in this Agreement shall be deemed to bind the Company against the Client as far as such obligations are concerned, unless the Company and the Client expressly agree to the applicability of such provisions of Applicable Regulations and/or the Agreement.
Appears in 5 contracts
Samples: Client Agreement, Client Agreement, Client Agreement
Client Categorization. 4.1. According to Applicable Regulations, the Company has to categorize its Clients in one of the following categories: Retail Client, Professional Client or Eligible Counterparty. The categorization shall depend on the information provided by the Client in his Account Opening Application Form and according to the method of categorization as this method is explained under the document titled “Client Categorization Policy”. By accepting this Agreement, the Client accepts the application of such method of categorization. The Company will inform the Client of his categorization according to Applicable Regulations. The Client has the right to request a different categorization as per the provisions of the document titled “Client Categorization Policy”. Categorization as a retail client offers greater protection. Retail clients are entitled to more detailed information under Applicable Regulations. Specific information for the protections of Retail clients can be found in the document titled “Client Categorization Policy”. The Company cannot enter into title transfer financial collateral arrangements with retail clients. Renumeration 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.
4.2. The Client accepts that when categorizing the Client and dealing with him, the Company will rely on the accuracy, completeness, and correctness of the information provided by the Client in his Account Opening Application Form and the Client has the responsibility to immediately notify the Company in writing if such information changes at any time thereafter.
4.3. It is understood that the Company has the right to review the Client’s categorization and change his categorization if this is deemed necessary by the Company (subject to Applicable Regulations).
4.4. Subject to the provisions of the Law and any applicable legislation, the Company may be excluded from certain of its obligations under Applicable Regulations or the Agreement in the event where the Client is categorised as an Eligible Counterparty. Nothing in this Agreement shall be deemed to bind the Company against the Client as far as such obligations are concerned, unless the Company and the Client expressly agree to the applicability of such provisions of Applicable Regulations and/or the Agreement.
Appears in 3 contracts
Samples: Client Agreement, Client Agreement, Client Agreement
Client Categorization. 4.1. 4.1 According to Applicable Regulations, the Company has to categorize its Clients in one of the following categories: Retail Client, Professional Client or Eligible Counterparty. The categorization shall depend on the information provided by the Client in his Account Opening Application Form and according to the method of categorization as this method is explained under the document titled “Client Categorization Policy”. By accepting this Agreement, the Client accepts the application of such method of categorization. The Company will inform the Client of his categorization according to Applicable Regulations. The Client has the right to request a different categorization as per the provisions of the document titled “Client Categorization Policy”. Categorization as a retail client offers greater protection. Retail clients are entitled to more detailed information under Applicable Regulations. Specific information for the protections of Retail clients can be found in the document titled “Client Categorization Policy”. The Company cannot enter into title transfer financial collateral arrangements with retail clients. Renumeration 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.
4.2. 4.2 The Client accepts that when categorizing the Client and dealing with him, the Company will rely on the accuracy, completeness, and correctness of the information provided by the Client in his Account Opening Application Form and the Client has the responsibility to immediately notify the Company in writing if such information changes at any time thereafter.
4.3. 4.3 It is understood that the Company has the right to review the Client’s categorization and change his categorization if this is deemed necessary by the Company (subject to Applicable Regulations).
4.4. 4.4 Subject to the provisions of the Law and any applicable legislation, the Company may be excluded from certain of its obligations under Applicable Regulations or the Agreement in the event where the Client is categorised as an Eligible Counterparty. Nothing in this Agreement shall be deemed to bind the Company against the Client as far as such obligations are concerned, unless the Company and the Client expressly agree to the applicability of such provisions of Applicable Regulations and/or the Agreement.
Appears in 3 contracts
Samples: Client Agreement, Client Agreement, Client Agreement
Client Categorization. 4.1. According to Applicable Regulations, the Company has to categorize its Clients in one of the following categories: Retail Client, Professional Client or Eligible Counterparty. The categorization shall depend on the information provided by the Client in his Account Opening Application Form and according to the method of categorization as this method is explained under the document titled “Client Categorization Policy”. By accepting this Agreement, the Client accepts the application of such method of categorization. The Company will inform the Client of his categorization according to Applicable Regulations. The Client has the right to request a different categorization as per the provisions of the document titled “Client Categorization Policy”. Categorization Categorisation as a retail client offers greater protection. Retail clients are entitled to more detailed information under Applicable Regulations. Specific information for the protections of Retail clients can be found in the document titled “Client Categorization Policy”. The Company cannot enter into title transfer financial collateral arrangements with retail clients. Renumeration 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.
4.2. The Client accepts that when categorizing the Client and dealing with him, the Company will rely on the accuracy, completeness, and correctness of the information provided by the Client in his Account Opening Application Form and the Client has the responsibility to immediately notify the Company in writing if such information changes at any time thereafter.
4.3. It is understood that the Company has the right to review the Client’s categorization and change his categorization if this is deemed necessary by the Company (subject to Applicable Regulations).
4.4. Subject to the provisions of the Law and any applicable legislation, the Company may be excluded from certain of its obligations under Applicable Regulations or the Agreement in the event where the Client is categorised as an Eligible Counterparty. Nothing in this Agreement shall be deemed to bind the Company against the Client as far as such obligations are concerned, unless the Company and the Client expressly agree to the applicability of such provisions of Applicable Regulations and/or the Agreement.
Appears in 2 contracts
Samples: Client Agreement, Client Agreement
Client Categorization. 4.1. 7.1 According to Applicable Regulations, the Company has to categorize its Clients in one of the following categories: either as Retail Client or a Professional Client. If a Client has been categorized as Professional Client, Professional the Company then reserves the right to further categorize the Client or as an Eligible Counterparty. The categorization shall depend on the information provided by Client will be categorized and treated as a Retail Client in accordance with applicable law unless the Client in his Account Opening Application Form and according to has informed the method of categorization as this method is explained under the document titled “Client Categorization Policy”. By accepting this Agreement, the Client accepts the application of such method of categorization. The Company will inform the Client of his categorization according to Applicable Regulations. otherwise.
7.2 The Client has the right to request a different categorization Client Categorization. If a Client desires to be re- classified, they need to send to the Company a written request, and the Company shall review this request. If the Company has categorized the Client as per a Professional Client or an Eligible Counterparty, the provisions Client will not be entitled to bring a claim to the Investor Compensation Fund, if the Company is unable to meet any of its obligations to the document titled “Client Categorization Policy”. Client, which arise in relation to the provision of investment and ancillary services.
7.3 Categorization as a retail client offers greater protection. Retail clients are entitled to more detailed information under Applicable Regulations. Specific information for the protections of Retail clients document titled can be found in the document titled “Client Categorization Policy”. Please refer to the Client Categorization Policy available on the Company’s Website.
7.4 The Company cannot enter into title transfer financial collateral arrangements with retail clients. Renumeration 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.
4.2. 7.5 The Client accepts that when categorizing the Client and dealing with him, the Company will rely on the accuracy, completeness, and correctness of the information provided by the Client in his Account Opening Application Form and the Client has the responsibility to immediately notify the Company in writing if such information changes at any time thereafter.
4.3. It is understood that the Company has the right to review the Client’s categorization and change his categorization if this is deemed necessary by the Company (subject to Applicable Regulations).
4.4. 7.6 Subject to the provisions of the Law and any applicable legislation, the Company may be excluded from certain of its obligations under Applicable Regulations or the Agreement in the event where the Client is categorised as an Eligible Counterparty. Nothing in this Agreement shall be deemed to bind the Company against the Client as far as such obligations are concerned, concerned unless the Company and the Client expressly agree to the applicability of such provisions of Applicable Regulations and/or the Agreement.
7.7 The Company can review a Client’s categorization at any time, in accordance with the Applicable Rules.
7.8 The Company will notify the Client in the event a change affects them.
Appears in 1 contract
Samples: Client Agreement
Client Categorization. 4.17.1. According to Applicable RegulationsThe Company may act as a principal and as an agent on the Client’s behalf when entering this Agreement.
7.2. As per the provisions of CySEC Rule, the Company has will deal with the Client according to categorize the type of categorisation/classification on which the Client will be treated either as a Retail, Professional or Eligible Counterparty in accordance with the information provided during the account opening procedure.
7.3. CySEC Rules establish certain criteria which the Company shall follow when carrying out the classification and communicating the outcome to the client which is incorporated in the Company’s Client Categorisation Policy, available here.
7.4. The Company will notify its Clients in one of the following categories: clients, and existing clients for their categorization as a Retail Client, Professional Client or an Eligible Counterparty. The categorization shall depend on the information provided by the Client in his Account Opening Application Form and according to the method of categorization as this method is explained under the document titled “Client Categorization Policy”. By accepting this Agreement, the Client accepts the application of such method of categorization.
7.5. The Company will inform the Client of his categorization according recognizes that Clients should be in general allowed to Applicable Regulationsrequest to be placed into a different category other than Retail Client. The Client has shall inform the right Company in case its personal information changes.
7.6. In the event that the Client wish to request a different categorization be re-categorized, it must inform the Company in writing, clearly stating such intention as per the provisions of the document titled “Client Categorization Categorisation Policy”. Categorization The final decision of the change of categorisation however lies with the absolute discretion of the Company.
7.7. The Client’s protection as a retail client offers greater protectionRetail Client under the CySEC Rules and other Applicable Regulations includes, but is not limited to:
7.7.1. The Company’s obligation to provide appropriate information to the Client before providing the Services mentioned in Paragraph 4;
7.7.2. the restriction on the payment or receipt by the Company of any inducements;
7.7.3. The Company’s obligations to ensure that all information it provides to the Client is fair, clear and not misleading;
7.7.4. the requirement that the Client receives from the Company adequate reports on the Software and Platform;
7.7.5. A Retail clients Client will be given more information/disclosures with regards to the Company, its services and any investments, costs, commissions, fees and charges and the safeguarding of clients’ funds and financial instruments. Clients who are entitled classified as Professionals or Eligible Counterparties will be provided with the relevant requirements to more detailed information under Applicable Regulations. Specific information for the protections of Retail clients can be found in extent agreed between the document titled “Client Categorization Policy”Company and the respective clients.
7.7.6. The Company cannot enter into title transfer financial collateral arrangements with retail clients. Renumeration practices which could will request the Client to provide an incentive information regarding its knowledge and experience in the investment field relevant to the Company’s staff specific type of product or service offered or demanded so as to recommend a particular financial instrument to a retail client when enable the Company could offer a different financial instrument which would better meet that client’s needs are also prohibitedto assess whether the investment service or product envisaged is appropriate for the Client. In case the case Company considers, on the basis of professional clients and eligible counterpartiesthe information received, the Company may agree to provide more limited information as provided by Applicable Regulations.
4.2. The Client accepts that when categorizing product or service is not appropriate for the Client and dealing with himClient, the Company will rely on the accuracy, completeness, and correctness of the information provided by notify the Client in his Account Opening Application Form and the Client has the responsibility to immediately notify accordingly;
7.7.7. When executing orders, the Company in writing if such information changes at any time thereafter.
4.3. It is understood that the Company has the right will take all sufficient steps to review achieve Best Execution of the Client’s categorization and change his categorization if this is deemed necessary by the Company (subject to Applicable Regulations).
4.4. Subject to orders, following the provisions of the Law Order Execution Policy, available here.
7.7.8. The Company will provide Clients with full and explicit information on the execution of the relevant Client orders;
7.7.9. The Company has in place adequate arrangements for financial instruments held on behalf of a Client to prevent their use by the Company for its own account by depositing them with a third party in a manner that would make them identifiable from the Company’s financial instruments held with that third party (if any) and identifiable from the financial instruments held by that third party as well;
7.7.10. The Company will make adequate arrangements for Margin Close-Out Protection. The standardized margin close-out rule has been set at 50% of the total initial margin. The threshold has been set out in CySEC Rules;
7.8. Retails Clients are entitled to compensation under the Investor Compensation Fund for Clients of Investment Firms, please refer here for further information;
7.9. Client categorized as Professional client or has requested to be treated as Professional client, by accepting this Agreement, it hereby agrees that the Client’s money will be treated in accordance with title transfer, namely money that the Client transfer to the Company by way of margin or otherwise will be treated as transfer of full ownership to the Company for the purpose of securing or covering the Client’s recent, future, actual, contingent or prospective obligations. By accepting the Agreement, the Client also confirms that it understands and agrees that the consequence of the transfer of ownership of any applicable legislationsuch money means, it shall no longer be regarded as “Client Money” in relation to the segregation of those monies and that the Company may deal with such money in its own right.
7.10. Furthermore, in case of insolvency, the Client ranks as a general creditor of the Company in relation to such money.
7.11. If the Company has closed the Client Accounts and the Client paid to the Company in full all amounts owed and has no further present or future obligations to the Company, the Company may be excluded from certain of its obligations under Applicable Regulations or the Agreement in the event where will transfer to the Client is categorised as an Eligible Counterparty. Nothing in this Agreement shall be deemed amount equal to bind any money the Client has paid to the Company against for the Client’s Accounts that remains after all amounts the Client as far as such obligations are concerned, unless owes(and/or owed) under the Company Terms have been paid and deducted (including in relation to all other accounts the Client expressly agree to has or had with the applicability of such provisions of Applicable Regulations and/or the AgreementCompany).
Appears in 1 contract
Samples: Client Agreement
Client Categorization. 4.1. 7.1 According to Applicable Regulations, the Company has to categorize its Clients in one of the following categories: either as a Retail Client or a Professional Client. If a Client has been categorized as Professional Client, Professional the Company then reserves the right to further categorize the Client or as an Eligible Counterparty. The categorization shall depend on the information provided by Client will be categorized and treated as a Retail Client in accordance with applicable law unless the Client in his Account Opening Application Form and according to has informed the method of categorization as this method is explained under the document titled “Client Categorization Policy”. By accepting this Agreement, the Client accepts the application of such method of categorization. The Company will inform the Client of his categorization according to Applicable Regulations. otherwise.
7.2 The Client has the right to request a different categorization Client Categorization. If a Client desires to be re- classified, they need to send to the Company a written request, and the Company shall review this request. If the Company has categorized the Client as per a Professional Client or an Eligible Counterparty, the provisions Client will not be entitled to bring a claim to the Investment Guarantee Fund, if the Company is unable to meet any of its obligations to the document titled “Client Categorization Policy”. Client, which arise in relation to the provision of investment and ancillary services.
7.3 Categorization as a retail client offers greater protection. Retail clients are entitled to more detailed information under Applicable Regulations. Specific information for the protections of Retail clients document titled can be found in the document titled “Client Categorization Policy”. Please refer to the Client Categorization Policy available on the Company’s Website.
7.4 The Company cannot enter into title transfer financial collateral arrangements with retail clients. Renumeration 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.
4.2. 7.5 The Client accepts that when categorizing the Client and dealing with him, the Company will rely on the accuracy, completeness, and correctness of the information provided by the Client in his Account Opening Application Form and the Client has the responsibility to immediately notify the Company in writing if such information changes at any time thereafter.
4.3. It is understood that the Company has the right to review the Client’s categorization and change his categorization if this is deemed necessary by the Company (subject to Applicable Regulations).
4.4. 7.6 Subject to the provisions of the Law and any applicable legislation, the Company may be excluded from certain of its obligations under Applicable Regulations or the Agreement in the event where the Client is categorised as an Eligible Counterparty. Nothing in this Agreement shall be deemed to bind the Company against the Client as far as such obligations are concerned, concerned unless the Company and the Client expressly agree to the applicability of such provisions of Applicable Regulations and/or the Agreement.
7.7 The Company can review a Client’s categorization at any time, in accordance with the Applicable Rules.
7.8 The Company will notify the Client in the event a change affects them.
Appears in 1 contract
Samples: Client Agreement
Client Categorization. 4.16.1. According to We shall treat you as a Retail Client for the purposes of the CySEC Rules and the Applicable Regulations. By categorizing its Clients as Retail Clients, the Company has provides the highest possible level of protection compared to categorize its Clients in one of the following categories: Retail Client, a Professional Client or Eligible CounterpartyCounterparties.
6.2. The categorization shall depend on the information provided Clients who have been categorized as Retail Clients by the Client Company may request from the Company in his Account Opening Application Form writing to be treated either as Professional Clients or Eligible Counterparties (and according to the method hence may lose certain protection and investor compensation rights), either generally or in respect of categorization as this method is explained under the document titled “Client Categorization Policy”. By accepting this Agreementa particular investment service or transaction, the Client accepts the application or type of such method of categorizationtransaction or product. The Company will inform the Client of his categorization according to Applicable Regulations. The Client has reserves the right and at its discretion, may decide not to take into consideration such treatment and consequently decline any requests for different classification. However, if you request a different categorization as per and the provisions Company agrees to such categorization, you accept that the level of the document titled “Client Categorization Policy”. Categorization as a retail client offers greater protection. Retail clients are entitled to more detailed information under protection that is afforded by CySEC Regulations and other Applicable Regulations. Specific information for the protections of Retail clients can be found in the document titled “Client Categorization Policy”Regulations may differ.
6.3. The Company cannot enter into title transfer financial collateral arrangements with retail clientsRetail Clients. Renumeration Remuneration practices which could provide an incentive to the Company’s staff to recommend a particular financial instrument to a retail client Retail Client when the Company could offer a different financial instrument which would better meet that clientClient’s needs are also prohibited. In the case of professional clients Professional Clients and eligible counterpartiesEligible Counterparties, the Company may agree to provide more limited information as provided by Applicable Regulations.
4.26.4. The Client accepts It is understood that we have the right to review the Client’s Categorization and change your Categorization if this is deemed necessary (subject to Applicable Regulations). You accept that when categorizing the Client you and dealing with himyou, the Company will rely on the accuracy, completeness, completeness and correctness of the information provided by the Client you in his your Account Opening Application Form and the Client has Financial Suitability Questionnaire. You have the responsibility to immediately notify the Company us in writing if such information changes at any time thereafter.
4.36.5. It is understood that Clients are responsible for keeping the Company has the right to review the Client’s informed if there is a change in their personal circumstances that could affect their categorization and change his categorization if this is deemed necessary by the Company (subject to Applicable Regulations)as such.
4.46.6. Subject to Clients acknowledge and accept that they have read and accepted the provisions of Company’s “Client Categorization Policy” which was provided during the Law registration process and any applicable legislation, is publicly available on the Company may be excluded from certain of its obligations under Applicable Regulations or the Agreement Legal Documentation section in the event where the Client is categorised Company’s Main Website as an Eligible Counterparty. Nothing in this Agreement shall be deemed amended from time to bind the Company against the Client as far as such obligations are concerned, unless the Company and the Client expressly agree to the applicability of such provisions of Applicable Regulations and/or the Agreementtime.
Appears in 1 contract
Samples: Trading Terms and Conditions
Client Categorization. 4.1. According to Applicable Regulations, the Company has to categorize its Clients in one of the following categories: Retail Client, Professional Client or Eligible Market Counterparty. The categorization shall depend on the information provided by the Client in his Account Opening Application Form and according to the method of categorization as this method is explained under the document titled “Client Categorization Policy”. By accepting this Agreement, the Client accepts the application of such method of categorization. The Company will inform the Client of his categorization according to Applicable Regulations. The A Professional Client has the right to request be treated as a different categorization Retail Client by notifying the Company as per the provisions of the document titled “Client Categorization Policy”. Categorization as a retail client Retail Client offers greater protection. Retail clients are entitled to more detailed information under Applicable Regulations. Specific information for the protections of Retail clients Clients can be found in the document titled “Client Categorization Policy”. The Company cannot enter into title transfer financial collateral arrangements with retail clients. Renumeration 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 prohibitedRetail Clients. In the case of professional clients Professional Clients and eligible counterpartiesMarket Counterparties, the Company may agree to provide more limited information as provided by Applicable Regulations.
4.2. The Client accepts that when categorizing the Client and dealing with him, the Company will rely on the accuracy, completeness, and correctness of the information provided by the Client in his Account Opening Application Form and the Client has the responsibility to immediately notify the Company in writing if such information changes at any time thereafter.
4.3. It is understood that the Company has the right to review the Client’s categorization and change his categorization if this is deemed necessary by the Company (subject to Applicable Regulations).
4.4. Subject to the provisions of the Law and any applicable legislation, the Company may be excluded from certain of its obligations under Applicable Regulations or the Agreement in the event where the Client is categorised as an Eligible Counterparty. Nothing in this Agreement shall be deemed to bind the Company against the Client as far as such obligations are concerned, unless the Company and the Client expressly agree to the applicability of such provisions of Applicable Regulations and/or the Agreement.
Appears in 1 contract
Samples: Client Agreement
