Term
Definition
Letter: A
ancillary activity
an activity which is not a regulated activity but which is:
(a) carried on in connection with a regulated activity; or
(b) held out as being for the purposes of a regulated activity.
- 01/12/2004
ancillary activity
means an activity which is not a regulated activity but which is:
(1) carried on in connection with a regulated activity; or
(2) held out as being for the purposes of a regulated activity.
- 19/06/2014
ancillary insurance services undertaking
(in relation to any undertaking in a consolidation group, sub-group or other group of persons) an undertaking complying with the following conditions:
(a) its principal activity consists of:
(i) owning or managing property; or
(ii) managing data-processing services; or
(iii) any other similar activity;
(b) the activity in (a) is ancillary to the principal activity of one or more insurance undertakings; and
(c) those insurance undertakings are also members of that consolidation group, sub-group or other group of persons.
- 01/01/2007
ancillary own funds
(1) (in relation to a UK Solvency II firm and Lloyd’s) has the meaning given in Own Funds 2.3 and are determined in accordance with Own Funds 2.3 to 2.7; or
(2) (in relation to a Solvency II undertaking other than a UK Solvency II firm) means an own funds item referred to in Article 89 of the Solvency II Directive, determined in accordance with the applicable Solvency II EEA implementing measures; or
(3) (in relation to an insurance holding company) means an own funds item referred to in Article 89 of the Solvency II Directive, determined in accordance with (1) as if it were a UK Solvency II firm; or
(4) (in relation to a third country branch undertaking) means an own funds item referred to in Article 89 of the Solvency II Directive, determined in accordance with (1) as if it were a UK Solvency II firm.
- 01/01/2016
ancillary risk
(in relation to an insurer with permission under the Act to insure a principal risk belonging to one class (as defined for the purposes of
INSPRU
and SUP) of general insurance business) a risk included in another such class which is:
(a) connected with the principal risk,
(b) concerned with the object which is covered against the principal risk, and
(c) the subject of the same contract insuring the principal risk.
However, the risks included in classes 14, 15 and 17 may not be treated as risks ancillary to other classes, except that the risk included in class 17 (legal expenses insurance) may be regarded as an ancillary risk of class 18 where: (d) the conditions laid down in (a) to (c) are fulfilled, and
(e) the principal risk relates solely to assistance provided for persons who fall into difficulties while travelling, while away from home or while away from their permanent residence or where it concerns disputes or risks arising out of, or in connection with, the use of sea-going vessels.
- 06/10/2007
ancillary service
means any of the services listed in Section B of Annex 1 to MiFID.
- 02/04/2015
ancillary service
(A) In the PRA Handbook:any of the services listed in Section B of Annex I to MiFID, that is:
(a) safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management;
(b) granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction;
(c) advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings;
(d) foreign exchange services where these are connected to the provision of investment services;
(e) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments;
(f) services related to underwriting; and
(g) investment services and activities as well as ancillary services within (a) to (f), above, related to the underlying of the derivatives included under Section C - 5, 6, 7 and 10, that is (in accordance with that Annex and Recital 21 to, and Article 39 of, the MiFID Regulation):
[Note: article 4(1)(3) of MiFID] (i) commodities;
(ii) climatic variables;
(iii) freight rates;
(iv) emission allowances;
(v) inflation rates or other official economic statistics;
(vi) telecommunications bandwidth;
(vii) commodity storage capacity;
(viii) transmission or transportation capacity relating to commodities, where cable, pipeline or other means;
(ix) an allowance, credit, permit, right or similar asset which is directly linked to the supply, distribution or consumption of energy derived from renewable resources;
(x) a geological, environmental or other physical variable;
(xi) any other asset or right of a fungible nature, other than a right to receive a service, that is capable of being transferred;
(xii) an index or measure related to the price or value of, or volume of transactions in any asset, right, service or obligation;
where these are connected to the provision of investment services or ancillary services.(B) In the FCA Handbook:(1) (except in CONC) any of the services listed in Section B of Annex I to MiFID, that is:
(a) safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management;
(b) granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction;
(c) advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings;
(d) foreign exchange services where these are connected to the provision of investment services;
(e) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments;
(f) services related to underwriting; and
(g) investment services and activities as well as ancillary services within (a) to (f), above, related to the underlying of the derivatives included under Section C - 5, 6, 7 and 10, that is (in accordance with that Annex and Recital 21 to, and Article 39 of, the MiFID Regulation):
[Note: article 4(1)(3) of MiFID] (i) commodities;
(ii) climatic variables;
(iii) freight rates;
(iv) emission allowances;
(v) inflation rates or other official economic statistics;
(vi) telecommunications bandwidth;
(vii) commodity storage capacity;
(viii) transmission or transportation capacity relating to commodities, where cable, pipeline or other means;
(ix) an allowance, credit, permit, right or similar asset which is directly linked to the supply, distribution or consumption of energy derived from renewable resources;
(x) a geological, environmental or other physical variable;
(xi) any other asset or right of a fungible nature, other than a right to receive a service, that is capable of being transferred;
(xii) an index or measure related to the price or value of, or volume of transactions in any asset, right, service or obligation;
where these are connected to the provision of investment services or ancillary services.
(2) (in CONC) a service that relates to entering into a regulated credit agreement as lender and includes, in particular, an insurance or payment protection policy.
- 01/04/2014
ancillary services undertaking
(A) In the PRA Handbook(1) (in accordance with Article 4(21) of the Banking Consolidation Directive (Definitions) and subject to (2)) and in relation to an undertaking in a consolidation group, sub-group or another group of persons) an undertaking complying with the following conditions:
(a) its principal activity consists of:
(i) owning or managing property; or
(ii) managing data-processing services; or
(iii) any other similar activity;
(b) the activity in (a) is ancillary to the principal activity of one or more credit institutions or investment firms; and
(c) those credit institutions or investment firms are also members of that consolidation group, sub-group or group.
(2) (for the purpose of GENPRU 1.3 (Valuation) and INSPRU 6.1 (Group Risk: Insurance Groups) an undertaking in (1) and an .
(B) In the FCA Handbook(1) (in accordance with Article 4(21) of the Banking Consolidation Directive (Definitions) for the purpose of GENPRU (except in GENPRU 3) and BIPRU (except in BIPRU 12) and subject to (2)) and in relation to an undertaking in a consolidation group, sub-group or another group of persons) an undertaking complying with the following conditions:
(a) its principal activity consists of:
(i) owning or managing property; or
(ii) managing data-processing services; or
(iii) any other similar activity;
(b) the activity in (a) is ancillary to the principal activity of one or more credit institutions or investment firms; and
(c) those credit institutions or investment firms are also members of that consolidation group, sub-group or group.
2) (for the purpose of GENPRU 1.3 (Valuation) and INSPRU 6.1 (Group Risk: Insurance Groups) an undertaking in (1) and an .
(3) (except in (1)) has the meaning in article 4(1)(18) of the EU CRR.
- 01/01/2014
ancillary services undertaking
means an undertaking, the principal activity of which consists of owning or managing property, managing data-processing services, or a similar activity which is ancillary to the principal activity of one or more credit institutions, investment firms or insurers.
- 01/01/2016