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Professional investors

Q1 : Under paragraph 2(b) of Schedule 1 to the VATP Guidelines, a Platform Operator should carry out an annual confirmation exercise to ensure that clients who are corporate professional investors continue to fulfil the requisite requirements. While the Platform Operator should document its own assessment of the portfolio or asset of each of its relevant client and obtain further information from the client where appropriate, is the Platform Operator required to obtain a signed declaration from each of its relevant clients annually? 

A:

Although the declaration need not be renewed or signed annually, on the basis of the annual confirmation exercise, Platform Operators should be able to reasonably satisfy themselves that the clients concerned continue to fulfil the requisite requirements.


(Key references: Paragraph 2(b) of Schedule 1 to the VATP Guidelines)

Last update: 1 Mar 2024

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