Client Classification Checklist


Published by a ÑÇÖÞÉ«ÇéÍø Financial Services expert
Checklists

Client Classification Checklist


Published by a ÑÇÖÞÉ«ÇéÍø Financial Services expert

Checklists
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This checklist provides an overview of the Financial Conduct Authority’s (FCA) client classification requirements and may assist those seeking to classify clients as either retail clients, professional clients or eligible counterparties.

  1. •

    1. Is the firm providing services relating to a child trust fund (CTF) (except for a personal recommendation relating to a contribution to a CTF) to the client? (COBS 3.4.2 R)

    If yes, the client is a Retail Client. If no, please see question 2.

  2. •

    2. Is the firm providing any of the following services ('Eligible Counterparty Business') to the client?

    1. â—¦

      Dealing on own account, executing orders on behalf of clients or receiving and transmitting orders

    2. â—¦

      Carrying on any ancillary services directly related these services, or

    3. â—¦

      Arranging in relation to business that is not MiFID or equivalent third country business. (COBS 3.6.1(2) R)

    If yes, please see question 10. If no, please see question 3.

  3. •

    3. Is the client an entity required to be authorised or regulated to operate in the financial markets? (COBS 3.5.2(1) R)

    If

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