Who is categorised as a per se Professional Client?

A per se Professional Client is a client that is presumed to have the experience, knowledge and expertise to make their own investment decisions and properly assess the risks involved.


These Include:

  • Entities that must be authorised or regulated to operate in financial markets, such as:
    • banks;
    • investment firms;
    • other authorised or regulated financial institutions;
    • insurance companies;
    • collective investment schemes and their management companies;
    • pension funds and their management companies;
    • commodity and commodity derivatives dealers;
    • locals; and
    • other institutional investors.
  • Large businesses

 (for MiFID or equivalent third‑country business) that meet at least two of the following on an individual basis:

    • balance sheet total: EUR 20,000,000;
    • net turnover: EUR 40,000,000;
    • own funds: EUR 2,000,000.
  • National and regional governments

Including public bodies that manage public debt, central banks, international and supranational institutions such as the World Bank, IMF, ECB, EIB and similar organisations.

  • Other institutional investors

Whose main role is to invest in financial instruments, including those involved in asset securitisation or other financing deals.

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