Private customer classification as a professional customer on request

A private customer can be classified as a professional investor upon request or if proposed by the investment service provider. The change in the classification shall be preceded by an assessment by the investment service provider whether, based on the customersĀ“ experience, knowledge and expertise, the customer is in a position, in general or for a particular type of transaction, to make an investment decision and to assess the risks involved appropriately.

A change in the classification is only considered if the private customer meets at least two of the following three criteria: The customer is active in the market where the financial instruments for which he is to be classified as a professional customer are traded, and he has traded on average ten transactions of a significant magnitude quarterly during the last year; The customer has cash accounts and financial instruments worth more than 500,000 Euros; The customer has pursued a profession on the capital market for at least one year, which requires knowledge of the relevant business, investment services and securities administration services.

We expressly point out that the protection provisions of the WPHG for private customers do not apply any longer if the change in customer classification has been made. By registering, you acknowledge that you are aware of this change in investor protection.