INVESTMENT PROFESSIONALS (defined in FSMA, Section 19(5)
(a) somebody who is an authorised person
(b) an exempt person where the communication relates to a controlled activity which is a regulated activity in relation to which the person is exempt
(c) any other person (i)whose ordinary activities involve him in carrying on the controlled activity to which the communication relates for the purpose of a business carried on by him; or (ii)who it is reasonable to expect will carry on such activity for the purposes of a business carried on by him
(d) a person (“A”) who is a director, officer or employee of a person (“B”) falling within any of sub-paragraphs (a) to (c) where the communication is made to A in that capacity and where A’s responsibilities when acting in that capacity involve him in the carrying on by B of controlled activities.
HIGH NET WORTH INDIVIDUALS (defined in FSMA, Section 48(2)
Somebody who had, throughout the financial year immediately preceding the date of receipt of this communication, an annual income to the value of £100,000+
net assets to the value of £250,000+ excluding the property used as their primary residence or any money raised through a loan secured on that property, any rights under a qualifying contract of insurance, any benefits in the form of pensions or otherwise, which are payable on the termination of service, death or retirement to which they or their dependents are or may be entitled.
SOPHISTICATED INVESTORS (defined in FSMA, Section 50
Somebody who has a current certificate in writing / legible form and signed by an authorised person to the effect that they are sufficiently knowledgeable to understand the risks associated with described investments AND who has signed, within the preceding 12 months, a statement in the tems as defined in FSMA, Section 50.
SELF-CERTIFIED SOPHISTICATED INVESTORS (defined in FSMA, Section 50A(1)
Somebody who is a member of a network or syndicate of business angels and has been for at least the last six months prior to the date of receipt of this communication,
has made more than one investment in an unlisted company in the two years prior to the date of receipt of this communication,
is working (or has worked in the two years prior to the date of receipt of this communication) in a professional capacity in the private equity sector, or in the provision of finance for small and medium enterprises,
is currently (or has been in the two years prior to the date of receipt of this communication) a director of a company with an annual turnover of at least £1 million.
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