Means an investor who possesses the experience, knowledge and expertise to make its own investment decisions and properly assess the risks that it incurs.
The following should all be regarded as Experienced Investors in relation to all VFA services:
(a) Entities which are required to be authorised or regulated to operate in the financial markets.(b) Large undertakings meeting two of the following size requirements on a company basis:
- balance sheet total: EUR 20,000,000
- net turnover: EUR 40,000,000
- own funds: EUR 2,000,000
(c) National and regional governments, public bodies that manage public debt, Central banks, international and supranational institutions such as the World Bank, the IMF, the ECB, the EIB and other similar international organisations.
(d) Other institutional investors whose main activity is to invest in VFAs, including entities dedicated to the securitisation of assets or other financing transactions.
Clients not falling under any of the above categories, including public sector bodies, local public authorities, municipalities and private individual investors may also be treated as Experienced Investors upon request subject to the conditions set out in Sub-section 3 of Section 4 of Title 3 of Chapter 3 of the Rulebook.
