This section applies in relation to5 designated investment business (6other than MiFID, equivalent third country or optional exemption business or insurance distribution activities)6, carried on for a retail client:5
the firm and its services;
designated investments and proposed investment strategies; including appropriate guidance on and warnings of the risks associated with investments in those designated investments or in respect of particular investment strategies;
execution venues; and
costs and associated charges;
so that the client is reasonably able to understand the nature and risks of the service and of the specific type of designated investment that is being offered and, consequently, to take investment decisions on an informed basis.
That information may be provided in a standardised format.
3A firm, other than a venture capital firm, which is managing investments for a professional client that is not a natural person must disclose clearly on its website, or if it does not have a website in another accessible form: