ASIC Wholesale Client - Important Notice to all clients: Ruizean Markets only provides services to clients who meet the definition of ‘wholesale’ client under the Corporations Act 2001.  The Prospective client is required to supply the appropriate proofs. For more information, please download and read through the "Wholesale Client Questionnaire".

Wholesale Client Eligible Test

Ruizean Markets Pty Ltd (Ruizean Markets) only provides our services to "Wholesale Client" defined by Section 761G and 761GA of the Corporations Act. The client must read, qualify under, and initial at least one of the sections below.
Check an option that applies to your application. (Please note that all monetary figures are given in AUD)

a)      Size of Business Test
The financial product or service is provided for use in connection with a business that is not a small business. Small business means a business employing:

i)                    less than 20 people; or
ii)                   if the business is or includes the manufacture of goods then less than 100 employees.
If qualifying under this criteria, you will need to submit written confirmation by a Director where the client is a Corporation (or the Trustee where the client is a Trust) that proposed services and products are for use in connection with the business and that the business is not a small business (as defined above).

b)       Sophisticated Investor
The person has;

i)                    net income of $250,000 per annum (gross) for the last 2 years; or
ii)                   has net assets greater than $2.5 million.
where the product/service is not provided in connection with a business.
If qualifying under the criteria, a qualified accountant must certify in a letter that the person or entity satisfies this criteria and the certification must be no more than 6 months old at the time the offer of financial products is made. Please refer to Sophisticated Investor certification form of Ruizean Markets. Additional information regarding the Letter from an Accountant is attached.

c)      Professional Investor Test
A Professional Investor is an entity where one or more of the following apply:

i)                    is a financial services licensee;
ii)                   is a body regulated by APRA, other than a trustee of any of the following (within the meaning of the Superannuation Industry (Supervision) Act 1993)?
·         a superannuation fund;
·         an approved deposit fund;
·         a pooled superannuation trust;
·         a public-sector superannuation scheme;
iii)                 is a body registered under the Financial Corporations Act 1974;
iv)                 is the trustee of:
·         a superannuation fund; or
·         an approved deposit fund; or
·         a pooled superannuation trust; or
·         a public-sector superannuation scheme;
within the meaning of the Superannuation Industry (Supervision) Act 1993 and the fund, trust or scheme has net assets of at least $10 million;
v)                   controls at least $10 million (including any amount held by an associate or under a trust that the person manages);
vi)                 is a listed entity, or a related body corporate of a listed entity;
vii)               is an exempt public authority;
viii)              is a body corporate, or an unincorporated body, that;
·         carries on a business of investment in financial products, interests in land or other investments; and
·         for those purposes, invests funds received (directly or indirectly) following an offer or invitation to the public, within the meaning of section 82, the terms of which provided for the funds subscribed to be invested for those purposes;
ix)                 is a foreign entity that, if established or incorporated in Australia, would be covered by one of the preceding paragraph?
If qualifying under this criteria, you will need to provide proof and or confirmation regarding the type of professional investor status that applies to your account. Please refer to Professional Investor Declaration form of Ruizean Markets. Ruizean Markets, Ltd may ask for additional information to confirm as it deems necessary.

d) Wholly-owned subsidiary of a company that is a "Professional Investor" (as defined above).
If qualifying under this criteria, you will need to provide proof and or confirmation regarding the type of professional investor status that applies to your account. Ruizean Markets may ask for additional information to confirm as it deems necessary.

The prospective client represents that the information contained herein is complete and accurate and may be relied upon by Ruizean Markets and their respective principals, associates and affiliates in determining the prospective client's qualification as an Wholesale Client as defined by Chapter 7 Corporations Act 2001; and that the prospective client will notify Ruizean Markets immediately of any material change in any such information occurring prior to entering into any foreign currency transaction through or with such entities.