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
accepting deposits
the regulated activity, specified in article 5 of the Regulated Activities Order (Accepting deposits), which is in summary: accepting deposits if:
(a) money received by way of deposit is lent to others; or
- 01/12/2004
accident
(in relation to a class of contract of insurance) the class of contract of insurance, specified in paragraph 1 of Part I of Schedule 1 to the Regulated Activities Order (Contracts of general insurance), providing fixed pecuniary benefits or benefits in the nature of indemnity (or a combination of both) against risks of the person insured or, in the case of a contract made under section 140, 140A or 140B of the Local Government Act 1972 (or, in Scotland, section 86(1) of the Local Government (Scotland) Act 1973), a person for whose benefit the contract is made:
(a) sustaining injury as the result of an accident or of an accident of a specified class; or
(b) dying as a result of an accident or an accident of a specified class; or
(c) becoming incapacitated in consequence of disease or of disease of a specified class;
including contracts relating to industrial injury and occupational disease but excluding contracts within paragraph 2 of Part I of Schedule 1 to the Regulated Activities Order (Sickness) and contracts within paragraph IV of Part II of that Schedule (Permanent health). - 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
administering a regulated lifetime mortgage contract
the regulated activity, specified in article 61(2) of the Regulated Activities Order, which is in summary: administering a regulated mortgage contract (which is a lifetime mortgage) where the contract was entered into on or after 31 October 2004.
- 01/12/2004
administering a regulated mortgage contract
the regulated activity, specified in article 61(2) of the Regulated Activities Order, which is in summary: administering a regulated mortgage contract where the contract was entered into on or after 31 October 2004.
- 01/12/2004
adviser
an individual who is: a representative; or an appointed representative
- 01/12/2004
advising on investments
the regulated activity, specified in article 53 of the Regulated Activities Order (Advising on investments), which is in summary: advising a person if the advice is:
(a) given to the person in his capacity as an investor or potential investor, or in his capacity as agent for an investor or a potential investor; and
(b) advice on the merits of his doing any of the following (whether as principal or agent):
(i) buying, selling, subscribing for or underwriting a particular investment which is a security or relevant investment (that is, any designated investment, funeral plan contract, pure protection contract, general insurance contract or right to or interests in a funeral plan contract); or
(ii) exercising any right conferred by such an investment, other than a pure protection contract or a general insurance contract, to buy, sell, subscribe for or underwrite such an investment.
(2) (in (Approved Persons) and APER) the regulated activity specified in article 53 (Advising on investments) of the Regulated Activities Order. For these purposes, advising on investments includes any activities that would be included but for the exclusion in article 72AA (Managers of UCITS and AIFs) of the Regulated Activities Order.
- 01/12/2004
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
the regulated activity, specified in article 64 of the Regulated Activities Order (Agreeing to carry on specified kinds of activity), of agreeing to carry on an activity specified in Part II of that Order other than:
(a) accepting deposits;
(aa) issuing electronic money;
- 01/12/2004
aircraft
(in relation to a class of contract of insurance) the class of contract of insurance, specified in paragraph 5 of Part I of Schedule 1 to the Regulated Activities Order (Contracts of general insurance), upon aircraft or upon the machinery, tackle, furniture or equipment of aircraft.
- 01/12/2004
aircraft liability
(in relation to a class of contract of insurance) the class of contract of insurance, specified in paragraph 11 of Part I of Schedule 1 to the Regulated Activities Order (Contracts of general insurance), against damage arising out of or in connection with the use of aircraft, including third-party risks and carrier's liability.
- 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
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 bank
(except in COLL and CIS) (in relation to a bank account opened by a firm):
(a) if the account is opened at a branch in the United Kingdom:
(i) the Bank of England; or
(ii) the central bank of a member state of the OECD; or
(iii) a bank; or
(iv) a building society which offers, unrestrictedly, banking services; or
(v) a bank which is supervised by the central bank or other banking regulator of a member state of the OECD; or
(b) if the account is opened elsewhere:
(i) a bank in (a); or
(ii) a credit institution established in an EEA State other than the United Kingdom and duly authorised by the relevant Home State regulator; or
(iii) a bank which is regulated in the Isle of Man or the Channel Islands; or
(c) a bank supervised by the South African Reserve Bank; or
(d) any other bank that:
(in COLL and CIS) any person falling within (a-c). (i) is subject to regulation by a national banking regulator;
(ii) is required to provide audited accounts;
(iii) has minimum net assets of £5 million (or its equivalent in any other currency at the relevant time) and has a surplus revenue over expenditure for the last two financial years; and
(iv) has an annual audit report which is not materially qualified.
- 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
arranging (bringing about) regulated mortgage contracts
the regulated activity, specified in article 25A(1) of the Regulated Activities Order, which is in summary: making arrangements for another person to:
(a) enter into a regulated mortgage contract as borrower; or
(b) vary the terms of a regulated mortgage contract entered into by him as borrower on or after 31 October 2004.
(see also arranging (in relation to regulated mortgage contracts) and making arrangements with a view to regulated mortgage contracts.)- 01/12/2004
arranging deals in contracts of insurance written at Lloyd's
the regulated activity, specified in article 58 of the Regulated Activities Order (Arranging deals in contracts of insurance written at Lloyd's), carried on by the Society of Lloyd's of arranging deals in contracts of insurance written at Lloyd's.
- 01/12/2004
asset management company
(for the purpose of ELM and
PRU 8 (Group risk)and in accordance with Article 2(5) of the Financial Groups Directive (Definitions)) a management company within the meaning of Article 1a(2) of the UCITS Directive, as well as an undertaking the registered office of which is outside the EEA and which would require authorisation in accordance with Article 5(1) of the UCITS Directive if it had its registered office within the EEA.
- 01/12/2004
assisting in the administration and performance of a contract of insurance
the regulated activity, specified in article 39A of the Regulated Activities Order (Assisting in the administration and performance of a contract of insurance) of assisting in the administration and performance of a contract of insurance.
- 01/12/2004