Please note: Fusion assess the suitability of interested parties for all investments. Suitable investors who are not categorized as an 'Eligible Counterparty' or a 'Per Se Professional Client' will be invited to become 'Elective Professional Clients' under COBS 3.5

Can I be treated as an elective professional client?

Pursuant to the European Markets in Financial Instruments Directive (“MiFID”), we may treat you as an elective professional client provided that before any investment is completed:

• We have received a written application form from you requesting to be treated as such;
• You are warned of the protections and investor compensation which you will lose by opting to be treated as an elective professional
  client; (please click here for warning about loss of protection)
• That you confirm that you are aware of the consequences of losing such protection; and
• We are satisfied in light of your expertise, experience and knowledge and the nature of the instruments considered, that you are
  capable of making your own investment decisions and understanding the risks involved and you are suitable to be treated as an elective professional client.

This is the “qualitative test”. In making our assessment we may rely on information we already possess about you and/or request additional information from you and/or call you to discuss your investment experience.

• In addition to this qualitative test, you must satisfy at least 2 of the following 3 criteria:
• You have carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the
  previous 4 quarters.
• The size of your financial instrument portfolio, defined as including cash deposits AND financial instruments, exceeds EUR 500,000.
• You work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the
  transaction or services envisaged.

Warning about loss of protection

In the event that your application to be treated as a professional client is accepted, a number of rules and protections which would otherwise apply to you will not apply. In particular:

1. Communications, including financial promotions made by us, with professional clients are not subject to all of the requirements
   imposed by MiFID on communications with retail clients. Our communications must be clear, fair and not misleading. We may take into account your expertise as an elective professional client when complying with the requirements to provide you with a general description of the nature and risks of particular transactions.
2. Understanding of risk – If we make a personal recommendation to, or manage investments for, a professional client in the course of
   MiFID or equivalent third party business, we are entitled to assume that in relation to the products, transactions and services for which the professional client is so classified, you have the necessary level of experience and knowledge to understand the risks involved, and that you are able financially to bear the investment risks, for the purposes of suitability assessment. Where we are required to provide suitability reports to a retail client, in many cases we are not required to provide them to a professional client. We will not be required to provide you with written risk warnings and notice required for retail clients in relation to transactions in complex financial instruments, in particular derivatives and warrants.
3. Professional clients are not eligible complainants with respect to the Financial Ombudsman Services.
4. Information provisions about us, our services, and remuneration that are required with retail clients are not all required with respect
   to professional clients.
5. With respect to non-advised services, we are not required to request information or adhere to the same procedures when assessing
   the appropriateness of a given service or product for a professional client.
6. When managing investments for a client, we must provide you with a periodic statement. For professional clients, the content of the
   statement is not prescribed.
7. We may take into consideration the classification of the client in following our Order Execution Policy, as well as in providing i
   information, including¬ product information, to clients.
8. Generally, only retail clients are entitled to claim compensation under the Financial Services Compensation Scheme.