Prove the permissioning, governance and document controls work correctly before connecting to live trading.
Control Framework Reference Matrix
This matrix defines the expected decision output for each combination of client type, asset type, document availability, complexity flag and governance status. All system behaviour must be provable against these rows.
| # | Client Type | Asset Type | PRIIPs KID | Complex? | Gov Status | Expected Result | Note |
|---|---|---|---|---|---|---|---|
| M1 | Retail | UCITS ETF | Available | No | Approved | Available | Standard retail-accessible fund with KID |
| M2 | Retail | US ETF | Missing | No | Approved | Professional Only | No PRIIPs KID — retail client blocked |
| M3 | Professional | US ETF | Missing | No | Approved | Available with Warning | Professional client may access — acknowledgement required |
| M4 | Retail | Leveraged ETF | Available | Yes | Approved | Appropriateness Required | Complex instrument — CIA required before trading |
| M5 | Retail | Mutual Fund (no KID) | Missing | No | Approved | Professional Only | Fund missing KID — not accessible to retail |
| M6 | Retail | Property Fund | Available | No | Blocked | Blocked | Governance blocked — direct property exposure |
| M7 | Retail | Any Asset | N/A | No | Pending Review | Research Only | Not yet reviewed — research only, no trading |
| M8 | Retail | UK Equity | N/A | No | Approved | Available | Standard equity — no KID required |
| M9 | Retail | Complex Equity / Structured Product | N/A | Yes | Approved | Appropriateness Required | Appropriateness assessment required regardless of KID |