4.5.1. The mPASS™ Module – Key Features

The mPASS™ Module – Key Features

The mPASS™ module is a unique regulatory engine, which supplies firms that provide financial services in relation to financial products with an answer to the following question:

“Can I onboard client V and provide them service X and product Y in country Z?”

Uniquely, the mPASS™ module does that in relation to the regulatory framework relevant to both the domicile of the firm and the domicile of the potential client; and in relation to the following:

1. The instrument your potential client is interested in transacting with the firm which will be tested in both jurisdictions.

2. The service your potential client is interested in receiving from the firm in relation to the specific financial instrument.

3. The categorisation is triggered by the engine based on the relevant legislative provisions and your potential client’s responses during the assessment stage.

Furthermore, the Platform performs a Suitability and/or Appropriateness assessment. This is triggered based on the financial service the client is interested to receive from the firm in relation to the selected financial instrument. The Appropriateness and Suitability assessments, as applicable, are performed by testing the client’s knowledge and experience, financial situation and investment objectives.

Appropriateness Assessment: if the client is trading directly with the firm receiveng “execution only” services, the appropriateness assessment is triggered (subject to the categorisation of the client and complexity of the financial product). Its aim is to assess whether the financial services and products offered to the client are appropriate for them.

Suitability Assessment: if the client is seeking for portfolio management/advisory services from the firm, the suitability assessment will trigger (subject to the categorisation of the client and complexity of the financial product) to assess whether the said financial services and products are suitable to them. The Platform automatically triggers the financial situation, investment objectives, as well as the knowledge and experience assessments, in order to test the client on the above.