non-mass market investment

(1) (except in COBS 4, COBS 10 and COBS 10A) either of the following:

      (a) a non-mainstream pooled investment;

      (b) a speculative illiquid security.

(2) (in COBS 4, COBS 10 and COBS 10A) either of the following, provided it is not a UK RIE cryptoasset exchange traded note:

      (a) a non-mainstream pooled investment;

      (b) a speculative illiquid security.