Private banks caught in the crossfire from retail regulations

Status anxiety

Simon Gleeson, Clifford Chance

On the face of it, any individual investor is classified as retail unless they have been upgraded to a professional client by the regulatory authorities. But as private banks are discovering, wealth alone does not qualify an investor as a professional client.

"Most private banks are well aware that the mere fact an investor has a large sum of money does not make him a professional investor," says Simon Gleeson, partner at law firm Clifford Chance in London. "Monetary thresholds work at the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here