A Professional client will lose these two protections afforded to Retail clients under FCA rules:
- The client will not be eligible to seek the services of the Financial Ombudsman Service and may not be eligible for compensation under the UK Financial Services Compensation Scheme.
- We will not be required to provide you with the written risk warnings and notices (i.e. PRIIP KIDs) required for Retail clients in relation to transactions in complex financial instruments.
While there are others, these are the most prominent.
Furthermore, ESMA investor protection rules only apply to Retail clients.
Additional Information