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COBS 3.3 General notifications

23/10/2025R
  1. (1) A firm must notify a new client, and any existing client that the firm has newly categorised as required by this chapter, of their categorisation as a retail client, a professional client or an eligible counterparty in accordance with this chapter.
  2. (2) A firm must inform a client in a durable medium about:
    1. (a) any right that client has to request a different categorisation; and
    2. (b) any limitations to the level of client protection that a different categorisation would entail.
23/10/2025R

The information in COBS 3.3.1AR(2) must be provided to a client prior to the provision of services.

[Note: paragraph 2 of section I of annex II to MiFID]

01/11/2007G

This chapter requires a firm to allow a client to request re-categorisation as a client that benefits from a higher degree of protection (see COBS 3.7.1 R). A firm must therefore notify a client that is categorised as a professional client or an eligible counterparty of its right to request a different categorisation whether or not the firm will agree to such requests. However, a firm need only notify a client of a right to request a different categorisation involving a lower level of protection if it is prepared to consider such requests.