What is EPC Status?
To ensure that we comply with FCA regulations, any individual wanting to invest via Deepbridge Syndicate has to have Elective Professional Client status from Deepbridge Capital.
If you would like to receive an application form to become an Elective Professional Client please email email@example.com or call 01244 746000.
ELECTIVE PROFESSIONAL CLIENT DECLARATION
Under the Markets in Financial Instruments Directive, we may treat you as an elective professional client if, after our assessment of your expertise, experience, and knowledge of you, we are reasonably assured that, in light of the nature of the transactions or services envisaged, you are capable of making your own investment decisions and understanding the risks involved. This is the ‘qualitative test’.
In addition to this qualitative test, you must satisfy at least 2 of the following 3 criteria:
- You have carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous 4 quarters.
- The size of your financial instrument portfolio, defined as including cash deposits AND financial instruments, exceeds €500,000.
- You work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transaction or services envisaged.
WARNING REGARDING PROFESSIONAL VS RETAIL CATEGORISATIONS
The main differences in regulatory protections afforded retails clients vs. professional clients are:
- Communications, including financial promotions made by us with professional clients are not subject to all of the requirements imposed by MiFID on communications with Retail clients.
- Information provisions about Deepbridge Capital LLP (hereafter, ‘the Firm’), its services, and remuneration that are required with respect to retail clients are not all required with respect to professional clients.
- Professional clients are not eligible complainants with respect to the Financial Ombudsman Services (‘FOS’).
- Pre-requirements for the entry into written basic agreements for designated investment business may not apply to professional clients.
If the Firm manages investments for the professional client in the course of MiFID or equivalent third party business, it is entitled to assume that, in relation to the products, transactions and services for which the professional client is so classified, the client has the necessary level of experience and knowledge for the purposes of suitability assessment, and where the Firm is required to provide suitability reports to a retail client, in many cases the firm is not required to provide them to.