COBS 2.3 Retail Clients

A Person who cannot be classified as a Professional Client or Market Counterparty in accordance with these Rules is a Retail Client. If an Authorised Person chooses to provide Regulated Activities to a Person as a Retail Client, it may do so by simply classifying that Person as a Retail Client without having to follow any further procedures as compared to those required for classifying Persons as Professional Clients or Market Counterparties.