(1) The requirements laid down in Regulation 32(7) shall not apply to services provided to professional clients except for investment advice and portfolio management.
(2) The requirements laid down in paragraphs (4A) and (13) to (16) of Regulation 33 shall not apply to services provided to professional clients, unless those clients inform the investment firm either in electronic format or on paper that they wish to benefit from the rights provided for in those provisions.
(3) Investment firms shall keep a record of the client communications referred to in paragraph (2).