1. Investment firms shall notify new clients, and existing clients that the investment firm has newly categorised as required by UK law on markets in financial instruments, of their categorisation as a retail client, a professional client or an eligible counterparty in accordance with that Directive.
2. Investment firms shall inform clients in a durable medium about any right that client has to request a different categorisation and about any limitations to the level of client protection that a different categorisation would entail.
3. Investment firms may, either on their own initiative or at the request of the client concerned treat a client in the following manner:
(a) as a professional or retail client where that client might otherwise be classified as an eligible counterparty pursuant to rule 3.6.2 of the Conduct of Business sourcebook;
(b) a retail client where that client that is considered a professional client pursuant to Part 2 of Schedule 1 to Regulation (EU) No 600/2014.