This category comprises all customers categorised as neither eligible counterparties nor professional customers. It is irrelevant in this context whether these persons are natural or legal persons and whether the assets to be invested are private or business assets. Hence, a company may also be classified as a retail customer.
"Retail customers" enjoy the full protection of the conduct of business regime set forth in the Directive of European Parliament and Council 2004/39/ES on Markets in Financial Instruments
"Professional customers" are customers who possess the experience, knowledge and expertise to make their own investment decisions and properly assess the risks involved.
Customers considered to be professionals include:
"Professional customers" are deemed to possess the necessary knowledge and experience. The bank is therefore not required to determine, by means of an enquiry, whether the customer understands the risks involved in the intended transaction. However, an "abbreviated investor profile" regarding the customer’s investment goals and risk appetite must be drawn up for “professional customers”, too, if the customer wishes to enter into a written asset management agreement or if a specific financial instrument is recommended within the context of providing investment advice.
This category may include, among others, the following undertakings with activities in the financial services sector: