ASSESSING APPROPRIATENESS AND SUITABILITY. 7.1. Pursuant to the Law, when providing investment services other than investment advice or portfolio management, the Company is obliged to collect some information in order to assess the Client’s knowledge and experience in the investment field relevant to the trading of CFD products. 7.2. You hereby represent and warrant that you understand the purpose of the assessment of appropriateness and the importance of providing the Company with full and correct information for this purpose. You are warned and hereby accept, that if you provide incorrect or incomplete information regarding your knowledge and experience in the investment field, this will adversely affect Company’s ability to carry out the appropriateness assessment correctly. The lack of the Client to provide answers to the questions required by the Company will prevent the Company from assessing the client’s knowledge and experience; therefore, Sheer Markets will not be in position to determine whether CFDs is appropriate for you. 7.3. The Company shall assume that information about his knowledge, experience, ability to bear losses and risk tolerance provided from the Client to the Company is accurate and complete and the Company shall have no responsibility to the Client if such information is incomplete or misleading or changes or becomes inaccurate and the Company will be deemed to have performed its obligations under Applicable Regulations, unless the Client has informed the Company of such changes. 7.4. If you are classified as a Professional Client, the Company is entitled under the Applicable Laws and Regulations to assume that you have the necessary experience and knowledge in order to understand the risks involved in relation to the Services or Transactions or types of Transactions or CFDs, and to make your own evaluation of the merits and risks of any Transaction you enter into. This is due to the fact that Professional Clients possess the experience, knowledge and expertise to make their own investment decisions and properly assess the risks incurred. 7.5. If you are classified as a Retail Client, the Company is required by the Applicable Laws and Regulations to assess your knowledge and experience in trading in complex financial instruments such as CFDs in order to understand the risks involved and to assess whether such instruments are appropriate to you. 7.6. During the Account opening and registration stage you are required to provide to the Company information regarding your knowledge and experience, primarily with respect to trading in complex Financial Instruments such as CFDs, the types of services, transactions and financial instruments with you are familiar, the volume and frequency of your transactions in financial instruments and the period over which they have been carried our as well as information on your level of education, profession or former professions. 7.7. The information required to be obtained for the purposes of the appropriateness assessment is gathered by means of a standardised questionnaire. It is your responsibility to ensure that you provide with complete and correct information in order to enable the Company to carry out the appropriateness assessment. If the Company considers, in its discretion, that the responses provided are insufficient or are inconsistent or conflicting, it may require further clarifications for these responses. 7.8. The Company is entitled, at its sole discretion, to request additional information regarding the Client and/or to request an update of the data notified by the Client, whenever it deems necessary. 7.9. When providing the investment service of investment advice or portfolio management, we shall obtain the necessary information regarding your knowledge and experience in the investment field relevant to the specific type of product or service, your financial situation including your ability to bear losses, and your investment objectives including the risk tolerance so as to enable us to recommend you the investment services and financial instruments that are suitable for you and, in particular, are in accordance with your risk tolerance and ability to bear losses. 7.10. The provision of inaccurate and insufficient information about your knowledge, experience, financial situation and investment objectives, will result to our inability to provide the investment service investment advice or portfolio management services or recommend/invest on behalf of the client in unsuitable products. Therefore, you are urged to provide correct and accurate information in order for us to act at your best interests.
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Sources: Client Agreement, Client Agreement