(1) For the purpose of Rule 2.3.3(1)(b), an
Authorised Firm must, subject to (4), when first establishing a relationship with a Person as a Professional Client, inform that Person in writing of:
Person's right to be classified as a Retail Client;
(b) the higher level of protection available to
Retail Clients; and
(c) the time within which the
Person may elect to be classified as a Retail Client.
(2) If the
Person does not expressly elect to be classified as a Retail Client within the time specified by the Authorised Firm, the Authorised Firm may classify that Person as a Professional Client.
(3) If a
Person already classified as a Professional Client by an Authorised Firm expressly requests the Authorised Firm to be re-classified as a Retail Client, the Authorised Firm must, subject to (4), re-classify such a Person as a Retail Client.
(4) If an
Authorised Firm does not provide Financial Services to Retail Clients, it must inform the Person of this fact and any relevant consequences.
Derived from DFSA RM149/2015 (Made 11th February 2015) [VER24/04-15]