Non-Professional Definition
A non-professional refers to a natural person, who is applying/acting in a personal capacity, as neither a principal, officer, partner, employee, nor agent of any business, nor on behalf of any individual. A non-professional is a person who obtains information for their own investment purposes and not for any business purposes.
The person cannot be registered or qualified with*: The Securities Exchange Commission (SEC) in any capacity; The Commodities Futures Trading Commission; Any state securities agency; Any securities exchange or association; Any commodities or futures contract market or association.
* Or foreign organizational equivalents.
Furthermore, a non-professional person can be neither (a) an investment advisor (as that term is defined in Section 201(II) of the Investment Advisors Act of 1940, whether or not registered or qualified under that Act); (b) a person employed by a bank, or other organization exempt from registration under federal and/or state securities laws, to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt; or (c) a person engaged as a consultant, independent contractor, software developer, or other person that uses market information for any purpose for profit other than the trading of that person's own personal account(s).