Legal
Client classification notice
Draft — not yet in force — requires legal and compliance approval
This document is a placeholder drafted for internal review. It is not legal advice, is not final, and does not yet govern any relationship with Quantari. Final policies will be published before any service becomes available.
Purpose and status
This document is a framework draft prepared for internal review. It describes how Quantari would classify clients under Swiss financial-services law, and the consequences of each classification, if and when a regulated service exists. It is not final, is not in force, and requires legal and compliance approval. No client is classified today because no onboarding is active.
Retail clients
Retail clients are, in general, clients who are not professional or institutional clients. Retail clients benefit from the highest level of protection under the applicable rules. The precise definition and the protections that follow are set by Swiss law and would be applied as legally required. [Definition to be confirmed against current law.]
Professional clients
Professional clients are, in general, clients considered to have the experience, knowledge and capacity to bear certain risks, to whom a reduced level of protection applies. The categories treated as professional are set by Swiss law. [Categories and criteria to be confirmed against current law.]
Institutional clients
Institutional clients are, in general, certain regulated or public entities and large undertakings to whom the lowest level of protection applies. The categories treated as institutional are set by Swiss law. [Categories to be confirmed against current law.]
Opting out and opting in
Swiss law allows certain clients, on stated conditions, to declare that they wish to be treated as having a different classification — for example a retail client with the necessary qualifications opting to be treated as professional, or a client opting for a higher level of protection. Any such change would require the conditions set by law to be met and evidenced. [Opting conditions to be confirmed against current law.]
Evidence and documentation
A classification, and any change to it, would need to be established on a documented basis, with the relevant conditions evidenced and recorded. The specific evidence and records required would follow the applicable rules and the future onboarding process, which do not exist today.
Consequences of classification and protections
A client's classification affects the level of protection they receive, including the information provided to them, the checks that apply, and the scope of applicable conduct rules. Higher protection generally applies to retail clients and lower protection to professional and institutional clients.
Review and reclassification
A classification may need to be reviewed and, where appropriate, changed if the client's circumstances or the applicable rules change. The process and triggers for review would be defined in the future onboarding and monitoring arrangements.
No current classification and pending inputs
Because Quantari accepts no investment applications and operates no onboarding today, no client is classified and no classification decision has been made. The definitions, categories, thresholds and opting conditions summarised above are governed by current Swiss law and are marked for legal confirmation before this document could be finalised. [Legal confirmation: pending.]
Status: draft placeholder. Last updated: not yet published.