OPT-UP FROM A RETAIL CLIENT Sample Clauses

OPT-UP FROM A RETAIL CLIENT. A Retail Client has the right to request to be reclassified as a Professional Client and, in which case, he/she will be afforded a lower level of protection. The Company is not obliged to deal with him/her under a different categorization. The re-categorization may be requested in respect of all its business with us or on a “product category basis”, provided, however, that we are not obliged to accept such a categorization.
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OPT-UP FROM A RETAIL CLIENT. 29.6 A Retail Client has the right to request a lower level of protection as a Professional Client in respect of all its business with us or on a “product category basis”, provided, however, that we are not obliged to accept such a categorisation; In the specific case of a request for a change from Retail to Professional Client, such a request specifically implies the express renunciation of the right to be treated as a Retail Client and of rights to the associated level of protection; in this case at least two of the three following conditions must be marked as fulfilled on the form referred to, as required by MiFID: (a) to have carried out a significant volume of operations on securities markets in the last four quarters with an average frequency of more than ten
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OPT-UP FROM A RETAIL CLIENT. 29.6 A Retail Client has the right to request a lower level of protection as a Professional Client in respect of all its business with us or on a “product category basis”, provided, however, that we are not obliged to accept such a categorisation; In the specific case of a request for a change from Retail to Professional Client, such a request specifically implies the express renunciation of the right to be treated as a Retail Client and of rights to the associated level of protection; in this case at least two of the three following conditions must be marked as fulfilled on the form referred to, as required by FSA: (a) to have carried out a significant volume of operations on securities markets in the last four quarters with an average frequency of more than ten (10) operations per quarter;
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OPT-UP FROM A RETAIL CLIENT. 28.8. A Retail Client has the right to request to be reclassified as a Professional Client and, in such case, he/she will be afforded a lower level of protection. The Company is not obliged to deal with him/her under a different categorization. The re-categorization may be requested in respect of all its business with us or on a “product category basis”, provided, however, that we are not obliged to accept such a categorization. 28.9. The Company is allowed to treat any of the Retail Clients such as public sector bodies, local public authorities, municipalities and private individual investors as Professional Clients, provided that the relevant criteria and procedure mentioned below are fulfilled. These clients shall not, however, be presumed to possess market knowledge and experience comparable to Professional Clients and Eligible Counterparties. 28.10. 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 is undertaken by the Company and gives reasonable assurance, in light of the nature of the transactions or services envisaged, that the client is capable of making his/her own investment decisions and understanding the risks involved. The ‘fitness test’ applied to managers and directors of entities licensed under Directives of the European Union in the financial services 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 authorized to carry out transactions on behalf of the entity. 28.11. In the specific case of a request for a change from Retail to Professional Client, such a request specifically implies the express renunciation of the right to be treated as a Retail Client and of rights to the associated level of protection; In this case and in the course of this assessment, as a minimum, two (2) of the following criteria must be fulfilled, as required by XxXXX XX: a) the client has carried out transactions, in significant size, on the relevant market at an average frequency of ten (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 knowl...
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