Professional Investor Declaration

I hereby request to be classified as an Elective Professional Client and treated accordingly. 

I understand that Mayar Capital Ltd. is expected to carry out a qualitative assessment of my expertise, experience, and knowledge, in order to be reasonably assured that, in light of the nature of the transactions or services envisaged, I am capable of making my own investment decisions and understand the associated risks involved, and that Mayar Capital Ltd. is entitled to deny this request if it is not satisfied with its findings. 

I understand that in order to qualify as an Elective Professional Client under the provision of the Market in Financial Instruments Directive (MiFID), I must satisfy at least 2 of the following criteria (please circle the 2 criteria satisfied):

  
1. I have carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters; 

2. I have an investment portfolio (cash deposits and financial instruments), which exceeds €500,000; 

3. I work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged. 

Client DECLARATION 
I hereby warrant that I satisfy at least two of the three criteria listed above. 

I confirm that I wish to be treated as an Elective Professional Client. I have read and understood the written warning below from Mayar Capital Ltd. regarding the protections and compensation rights that I may lose and I am aware of the consequences of losing such protections. In particular, I note that rules relating to the following areas do not apply, or only partially apply to Elective Professional Clients:  

(1) Communicating with clients, including financial promotions 
As an Elective Professional Client the way in which we communicate with you may be different to the way in which we would communicate with a Retail Client.  However, we must still ensure that our communications with you are fair, clear and not misleading. 

(2) Distance Communications 
As an Elective Professional Client it is possible that you may not meet the definition of a “consumer”.  If this is the case then the requirements relating to distance communications will not apply. 

(3) Information about the firm, its services and remuneration 
There are specific pieces of information about the firm, our services and remuneration that we must provide to Retail Clients. We are obliged to provide information on these areas to all clients but the level of detail, medium and timing of the provision is less specific for those clients that are not Retail Clients. 
 

(4) Information on costs and associated charges 
The firm is required to disclose to its clients’ information regarding all costs and associated charges related to the provision of its services to you. The purpose of this is to better help clients understand the overall cost and cumulative effect on the return of their investments. As an Elective Professional Client, the information provided to you may not be as comprehensive as the information disclosed to Retail Clients.  

(5) Client Agreements 
As an Elective Professional Client we are required to have a client agreement with you.  However, the medium of this agreement and the timeframe within which it must be agreed are more flexible than they would have been if you were a Retail Client. 

(6) Suitability 
When making personal recommendations to you we are entitled to assume that, in relation to the products, transactions and services for which you are classified as an Elective Professional client, that you have the necessary level or experience and knowledge to understand the risk involved in the transaction or in the management of your portfolio.    

(7) Appropriateness 
For transactions where we do not provide you with a personal recommendation (e.g. an execution only trade) we may be required to assess whether the transaction is appropriate for you.  In these instances, we are entitled to assume that, in relation to the products, transactions and services for which you are classified as an Elective Professional Client that you have the necessary level of experience and knowledge to understand the risks involved in the transaction. 

(8) Dealing 
When providing Best Execution to you as an Elective Professional Client, price is likely to be of high relative importance. However, we are not obliged to determine the best possible result in terms of the total consideration, representing the price of the financial instrument and the costs related to execution, although this will be one of the factors that we will consider.  Furthermore, where there is more than one competing venue to execute an order, as detailed in our Best Execution Policy, we do not have to consider our own commissions and costs relating to each of the eligible execution venues when assessing which to use in order to provide best execution.  For further details please refer to our Best Execution Policy. 

(9) Reporting information to clients 
When providing confirmation that we have carried out your order, the timeframe we have to do so is greater than if you were a Retail Client. 
 
(10) Financial Ombudsman Services (FOS) 
The services provided by FOS in the UK, will only be applicable to you as an elective professional client when acting as a “consumer” in relation to a business activity that is outside of your normal trade, business or profession; to which a complaint relates.  

Finally, I note that the Financial Services Compensation Scheme may not be available to me as an Elective Professional Client. 
 
RISK WARNING 
Mayar Capital Ltd. offers investments and services to clients, which are primarily considered to be high risk investments. Not all financial products are suitable for all investors. Before entering into any transaction you should ensure that you understand and have made an independent assessment of the suitability and appropriateness of the transaction into which you are entering and the nature and extent of your exposure to risk of loss in light of your own objectives, financial and operational resources and other relevant circumstances. You should take such independent investigations and such professional advice as you consider necessary or appropriate for such purpose. Past performance is no indicator of future success. 

Please sign below to confirm your understanding of the above and to confirm that you wish to be treated as an Elective Professional Client.