Setting Sophisticated investor / Wholesale client status for investors

You can set a Sophisticated investor / Wholesale client status for investors. For company type issuers "Sophisticated investor" terminology is used throughout the site whereas for trust type issuers "Wholesale client" terminology is used. For the purposes of this article we will refer to the status as Sophisticated investor, however note that for trust type issuers this will appear as wholesale client in the site.

Setting default options

To set default options:

1. From the main menu, go to Issuer > Profile.
2. Scroll to Wholesale client investor default settings, select an option from the below

• Sophisticated investor - Any associate is a sophisticated investor: An investor will be a sophisticated investor if any associate is a sophisticated investor.
• Sophisticated investor - All associates are sophisticated investors: Settings for this client depend on the investor type and the status of its associates. In all cases, any associates that have been marked as “Not required” will be ignored. 
  • Individual/joint: an investor will be a sophisticated investor if: 
    • all individual associates are sophisticated investors ignoring “Not required”
  • Company type: an investor will be a sophisticated investor if:
    • The company associate is a sophisticated investor OR
    • All individual associates are sophisticated investor ignoring “Not required”
  • Trust with Individual trustees: an investor will be a sophisticated investor if:
    • The trust is a sophisticated investor OR
    • All the individual trustee’s are sophisticated investors ignoring “Not required” OR
    • All individual associates are sophisticated investors ignoring “Not required” 

Sophisticated investor - Set manually: An investor’s sophisticated investor status will be set to “Not determined” by default, regardless of the status of any of its associates. A custom status for each investor can be set by going to the investor details page, clicking on the sophisticated investor indicator, and then selecting “Override sophisticated investor status”.

Setting a status on an individual associate in the investor details page

Select an investor and navigate to the investor details page, then select the Investor Details tab

Under the verification section, select the individuals wholesale client status from the following options.

• Not determined
• Not a sophisticated investor
• Dependent upon valid accountant's certificate
• Sophisticated investor - Independent of accountant's certificate

Setting a status on an individual associate in the application details page

Navigate to Capital raising > Offers and applications

Select an offer by clicking on one from the offers list view 

Select an application by clicking on one from the applications list view

Scroll down to the investor details section

Select the individuals wholesale client status from the following options.

• Not determined
• Not a sophisticated investor
• Dependent upon valid accountant's certificate
• Sophisticated investor - Independent of accountant's certificate

Viewing the investors sophisticated investor status

The issuer profile setting and statuses assigned to individuals determine how the sophisticated investor status is determined for the investor.

The investors sophisticated investor status can be seen on any investors investor details page.

The sophisticated investor indicator contains a bar at the bottom. The colour of the bar indicates the investors wholesale client status as follows:

• Grey - undetermined
• Red - not a sophisticated investor
• Green - valid sophisticated investor

Overriding the investors sophisticated investor status

The investors sophisticated investor status as determined by the methods described above can be overridden.

Click on the sophisticated investor indicator text link

Click on Override sophisticated investor status

Select one of the available override options as described below.

• Default (<As set in the issuer profile>): The sophisticated investor status will be assigned based on the setting in the issuer profile.
• Not determined: Set the investors sophisticated investor status to not determined.
• Not a sophisticated investor: Set the investor's sophisticated investor status to not a sophisticated investor.
• Is a sophisticated investor: Set the investors sophisticated investor status to sophisticated investor, regardless of the status of any of it’s associates and accountant’s certificates
• Sophisticated investor - any associate is a sophisticated investor: An investor will be a sophisticated investor if any associate is a sophisticated investor.
• Sophisticated investor - All associates are sophisticated investors: Settings for this client depend on the investor type and the status of its associates. In all cases, any associates that have been marked as “Not required” will be ignored. 
  • Individual/joint: an investor will be a sophisticated investor if: 
    • all individual associates are sophisticated investors ignoring “Not required”
  • Company type: an investor will be a sophisticated investor if:
    • The company associate is a sophisticated investor OR
    • All individual associates are sophisticated investor ignoring “Not required”
  • Trust with Individual trustees: an investor will be a sophisticated investor if:
    • The trust is a sophisticated investor OR
    • All the individual trustee’s are sophisticated investors ignoring “Not required” OR

Optionally, add a note an attach a file to this override.

Click on the Save button