As part of the self-certification process the individual must acknowledge in writing an understanding of the requirements for being treated as a High Net Worth Individual or Sophisticated Investor. These requirements are contained in statutory instruments and summarised in the adjacent call out boxes.
In addition, the individual must acknowledge an understanding of the implications, for the purposes of the FPO, of being treated as a High Net Worth Individual or Sophisticated Investor, including
The ability to receive financial promotions that may not have been approved by a firm regulated by the Financial Conduct Authority (‘the FCA’) and whose content may not conform to FCA rules.
The loss of the right to complain to the Financial Conduct Authority or the Financial Ombudsman Scheme.
The loss of the right to seek compensation from the Financial Services Compensation Scheme.