European Union
Retail clients requesting treatment as 'elective' professional clients (as defined by Markets in Financial Instruments Directive (MiFID)) must satisfy at least two of the following quantitative criteria in assessing the client's expertise, experience and knowledge:
- the client has carried out transactions, in significant size (at least EUR 50,000), on the relevant market at an average frequency of 10 per quarter over the previous four quarters;
- the size of the client's financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds EUR 500,000;
- the client works or has worked in the financial sector for at least one year in a professional position which requires knowledge of the transactions or services envisaged.
Read more about this topic: Accredited Investor
Famous quotes containing the words european and/or union:
“The Indian is one of Nature’s gentlemen—he never says or does a rude or vulgar thing. The vicious, uneducated barbarians, who form the surplus of overpopulous European countries, are far behind the wild man in delicacy of feeling or natural courtesy.”
—Susanna Moodie (1803–1885)
“How can I explain the difference to me between America and Russia?... the America I’ve known is a place where men on horseback escort union marchers, the Russia I’ve known is a place where men on horseback slaughter young Socialists and Jews.”
—Golda Meir (1898–1978)