PRIV 1.2.10 Who is a Qualified Investor?

(1) For these rules, a person can be a qualified investor for a scheme or an authorised firm (or both).
(2) A qualified investor for a scheme is—
(a) a person who would (if the scheme were an authorised firm and the person were a customer of the scheme) be a business customer or market counterparty of the scheme in relation to dealings in investments that consist of (or include) units in the scheme; or
(b) a person who is a business customer or market counterparty of any authorised firm in relation to dealings in investments that consist of (or include) units in the scheme.
(3) A qualified investor for an authorised firm in relation to units in a scheme is a person who is a business customer or market counterparty of the firm in relation to dealings in investments that consist of (or include) units in the scheme.
(4) In this rule:

market counterparty has the same meaning as in the Investment Management and Advisory Rules 2014.
Amended by QFCRA RM/2019-4 (as from 1st January 2020).