Four factors for restricted and non-restricted regulations
| Restricted | Not restricted | |
|---|---|---|
| Reliability | Classification of investor type | No classification of investor type |
| Investment requirements | Thresholds of investment | Thresholds of investment for non-professional investors |
| Suitability | Suitability test | Self-certifications |
| Transparency and disclosure | Specific obligations and norms | No specific obligation and norms |
| Restricted | Not restricted | |
|---|---|---|
| Reliability | Classification of investor type | No classification of investor type |
| Investment requirements | Thresholds of investment | Thresholds of investment for non-professional investors |
| Suitability | Suitability test | Self-certifications |
| Transparency and disclosure | Specific obligations and norms | No specific obligation and norms |
Source(s): Authors' elaboration
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