PRA Rulebook Glossary

Printed on: 01/07/2024

Rulebook at: 01/07/2005

Term

Definition

Letter: A

accepted channel for dissemination of information

(in relation to any prescribed market) an approved channel of communication by which information concerning investments traded on the market is formally disseminated to other market users on a structured and equitable basis.
  • 01/12/2004

acting as the depositary or sole director of an open-ended investment company

the regulated activity, specified in article 51(1)(c) of the Regulated Activities Order (Establishing etc a collective investment scheme), of acting as the depositary or sole director of an open-ended investment company.
  • 01/12/2004

admission or admission to listing

  • 01/07/2005

admission to trading

(1) (in LR) admission of securities to trading on an RIE's market for listed securities.
(2) (in PR and DR) admission to trading on a regulated market.
(3) (elsewhere in the Handbook)(in relation to an investment and an exchange) the process by which the exchange permits members of the exchange to enter into transactions in that investment under and subject to the rules of the exchange.
  • 01/07/2005

advising on regulated mortgage contracts

the regulated activity, specified in article 53A of the Regulated Activities Order, which is in summary: advising a person if the advice:
(a) is given to the person in his capacity as a borrower or potential borrower; and
(b) is advice on the merits of his:
(i) entering into a particular regulated mortgage contract; or
(ii) varying the terms of a regulated mortgage contract entered into by him on or after 31 October 2004 in such a way as to vary his obligations under that contract.
  • 01/12/2004

agreeing to carry on a regulated activity

  • 01/12/2004

announceable information

information which is usually the subject of a public announcement, although not subject to any formal disclosure requirement.
  • 01/12/2004

annual information update

(in PR) the document referred to in PR 5.2.1 R.
  • 01/07/2005

annual report and accounts

(a) (in relation to a company incorporated in the United Kingdom) an annual report and annual accounts as those terms are defined in sections 261(2) and 262(1) of the Companies Act 1985, together with an auditor's report prepared in relation to those accounts under section 235 of the Companies Act 1985;
(b) (in relation to any other body) any similar or analogous documents which it is required to prepare whether by its constitution or by the law under which it is established.
  • 01/12/2004

applicable sectoral consolidation rules

(in respect of a financial sector and in accordance with paragraph 6.10 of PRU 8 Ann 1R G (Applicable sectoral consolidation rules)) the FSA's sectoral rules about capital adequacy and solvency on a consolidated basis applicable to that financial sector under the table in paragraph 6.11 of PRU 8 Ann 1R G.
  • 01/12/2004

applicable sectoral rules

(in respect of a financial sector) applicable sectoral consolidation rules for that financial sector and the FSA's sectoral rules about capital adequacy and solvency applicable to that financial sector under the table in paragraph 6.8 of PRU 8 Ann 1R Gwhich of those sets of rules apply for the purpose of a particular calculation depends on the nature of that calculation.
  • 01/12/2004

approved mortgage

(in COLL and CIS) a mortgage:
(a) which the trustee reasonably believes can be discharged on demand or within 28 days by repayment of all the money secured by the mortgage (including, where appropriate, any additional sum provided for under the mortgage); and
(b) on which there is not secured any property, whether immediately or contingently, other than the approved immovable in question.
  • 01/12/2004

approved reinsurance to close

(a) a reinsurance to close effected before 1 January 2005; or
(b) an agreement under which members of a syndicate in one syndicate year ("the reinsured members") agree with the members of that syndicate in a later syndicate year or the members of another syndicate ("the reinsuring members") that the reinsuring members will discharge, or procure the discharge of, or indemnify the reinsured members against, all known and unknown insurance business liabilities of the reinsured members arising out of the insurance business carried on by the reinsured members in that syndicate year that is:
(i) effected after 1 January 2005; and
(ii) not a balance transfer between two syndicate years where the syndicate has only one member and the member is the same in each of those years.
  • 01/01/2005

ATS operator

a firm that operates an ATS or that has accepted responsibility for the operation of an ATS by an appointed representative.
  • 01/12/2004

authorised corporate director

the director of an ICVC who is the authorised corporate director of the ICVC in accordance with COLL 6.5.3 R (Appointment of an ACD) or, as the case may be, CIS 7.2.1 R (The directors) including, if relevant, an EEA UCITS management company.
  • 01/12/2004

authorised fund

an ICVC or an AUT.
  • 01/12/2004

authorised professional firm

  • 01/12/2004

authorised property unit trust

(in LR) a unit trust scheme authorised by the FSA and which is a property scheme or an umbrella scheme each separate part of which would qualify as a property scheme if it were a separate authorised unit trust scheme.
  • 01/07/2005

authorised unit trust manager

a manager of an AUT.
  • 01/12/2004

authorised Voluntary Jurisdiction participant

a participant in the Voluntary Jurisdiction who is an authorised person.
  • 01/12/2004