COB 2.3.3

(1) An Authorised Firm may classify a Person as a Professional Client if that Person:
(a) meets the requirements to be:
(i) a "deemed" Professional Client pursuant to Rule 2.3.4;
(ii) a "service-based" Professional Client pursuant to Rule 2.3.5, Rule 2.3.6 or Rule 2.3.6A; or
(iii) an "assessed" Professional Client pursuant to either Rule 2.3.7 or Rule 2.3.8; and
(b) has not opted-in to be classified as a Retail Client in accordance with the requirements in Rule 2.4.1.
(2) If an Authorised Firm becomes aware that a Professional Client no longer fulfils the requirements to remain classified as a Professional Client, the Authorised Firm must, as soon as possible, inform the Client that this is the case and the measures that are available to the firm and the Client to address that situation.
Derived from DFSA RM149/2015 (Made 11th February 2015) [VER24/04-15]
[Amended] DFSA RMI202/2017 (Made 14th June 2017). [VER29/08-17