From the Account area of your profile, in the "Invest" section, you can declare your investor type. The following types of investors can be distinguished.

1. Non-professional investor

A non-professional investor (or “retail client”) is entitled to the highest level of protection. In fact, the reference legislation on the classification of clients provides higher protection for investors with less experience, knowledge, and qualifications in financial investments. This category is identified on a residual of the others: all clients who do not have the characteristics to be classified as professional, supporting SME’s or sophisticated will be considered non-professional investors (or individual retail customers).

2. Professional investor

An investor is considered professional if he or she has the experience, knowledge, and expertise to make informed investment decisions and to properly assess the risks he or she is taking with full awareness. Identified by Annex II, Section I, points 1, 2, 3, and 4 of the MiFID II Directive 2014/65/EU, this category includes, among others, banks, investment firms, insurance companies, institutional investors, collective investment institutions, and management companies, pension funds and management companies of such funds, governments, and large corporations and, exceptionally, certain categories of individual private investors.

3. Supporting SME's investor

A supporting SME’s investor is, according to the definition given by the Consob Regulation on collection of capital via online portals no. 18592 of 26 June 2013, a client who has a financial portfolio, including cash deposits, worth more than five hundred thousand euros, that meets the integrity requirements set forth in Article 8, paragraph 1 of the same Regulation and owns at least one of the following requirements: (i) having made, in the last two years, at least three investments in the share capital or as shareholder’s loans in small and medium-sized enterprises, each of which for an amount of at least fifteen thousand euros; (ii) having covered, for at least twelve months, a role as executive director of small and medium-sized enterprises, other than the offering company.

4. Sophisticated investor

EU Regulation 2020/1503 ("ECSP") has introduced, with respect to crowdfunding, a new category of investor: the sophisticated investor. According to EU Reg. 2020/1503, Article 2(j), a sophisticated investor is any natural or legal person who is a professional investor by virtue of points (1), (2), (3), or (4) of Section 1 of Annex II of Directive 2014/65/EU or any natural or legal person who has the approval of the crowdfunding service provider to be treated as a sophisticated investor in accordance with the criteria and the procedure laid down in Annex II to Regulation. 2020/1503.


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