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private clients

Those bank clients who do not qualify for professional or eligible counterparty status. Private clients, or retail clients as they are named under MiFID, are generally considered to be the least sophisticated and are given the most protection. They are required to demonstrate to the firm that they are transacting with the necessary knowledge and experience to understand the risks associated with the transaction. There is also a greater administrative burden associated with private respectively retail categorization for both firms and clients.

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