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COB 2.6.3

(1) For the purposes of classifying a Person as an 'assessed' Professional Client under either Rule 2.3.7 or Rule 2.3.8, the reference to $1 million in each of Rules 2.3.7(1)(a) and 2.3.8(1)(a) is to be read as a reference to $500,000 on and before 31 March 2016.
(2) An Authorised Firm may continue to treat a Person as an 'assessed' Professional Client in reliance on the lower asset threshold specified in (1) on and after 1 April 2016 provided:
(a) it is in respect of the Financial Services carried on with or for the Client prior to that date; and
(b) the firm continues to ensure that all the other applicable requirements in this chapter are met in respect of that Client.
Derived from DFSA RM149/2015 (Made 11th February 2015) [VER24/04-15]