FCA client categorization
The Financial Conduct Authority (FCA) has divided clients into the following three categories.
Retail client (RC)
Professional client (PC)
Eligible counterparty (ECP)
This categorization must be used by financial firms while conducting, or intending to conduct, regulated business with or for a client.
A “client” is any person who an investment firm provides, intends to provide or has provided any of UK regulated service.
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