PRA Rulebook Glossary

Printed on: 01/07/2024

Rulebook at: 01/12/2004

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.
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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.
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adviser on syndicate participation at Lloyd's function

controlled function CF25 in the table of controlled functions, described more fully in SUP 10.10.15 R.
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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.
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advising on investments (except pension transfers and pension opt-outs)

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advising on pension transfers and pension opt-outs

advising on investments in respect of pension transfers and pension opt-outs.
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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.
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advising on syndicate participation at Lloyd's

the regulated activity, specified in article 56 of the Regulated Activities Order (Advice on syndicate participation at Lloyd's), of advising a person to become, or continue or cease to be, a member of a particular Lloyd's syndicate.
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ancillary action

action, ancillary to stabilising action, permitted under MAR 2.4.2 R.
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announceable information

information which is usually the subject of a public announcement, although not subject to any formal disclosure requirement.
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annual income allocation date

the date in any year stated in the most recently published prospectus as the date on or before which, in respect of each annual accounting period, an allocation of income is to be made.
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applicable provisions

the Host State rules with which:
(a) an incoming EEA firm is required to comply when carrying on a permitted activity through a branch or by providing services (as applicable) in the United Kingdom, as defined in paragraphs 13(4) and 14(4) of Part II of Schedule 3 to the Act (Exercise of passport rights by EEA firms); or
(b) a UK firm is required to comply when conducting business through a branch (in accordance with paragraph 19(13) of Part III of Schedule 3 to the Act (Exercise of passport rights by UK firms)) or by providing services (as applicable) in another EEA State.
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applications day

the first day on which section 40 of the Act (Application for permission) comes into force (for any purpose).
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Appointed Representatives Regulations

the Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001 (SI 2001/1217).
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apportionment and oversight function

controlled function CF8 in the table of controlled functions, described more fully in SUP 10.7.1 R .
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approved person

a person in relation to whom the FSA has given its approval under section 59 of the Act (Approval for particular arrangements) for the performance of a controlled function.
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asset identification rules

(as defined in subsection 142(2) of the Act (Insurance business: regulations supplementing Authority's rules)) rules made by the FSA which require an authorised person who has permission to effecting or carry out contracts of insurance to identify assets which belong to him and which are maintained in respect of a particular aspect of his business.
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associated call option

a right to acquire a particular amount of the relevant security or of any associated security at a future date at a particular price.
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authorised person

(in accordance with section 31 of the Act (Authorised persons)) one of the following:
(a) a person who has a Part IV permission to carry on one or more regulated activities;
(b) an incoming EEA firm;
(c) an incoming Treaty firm;
(d) a UCITS qualifier;
(e) an ICVC;
(f) the Society of Lloyd's.
(see also GEN 2.2.18 R for the position of an authorisedpartnership or unincorporated association which is dissolved.)
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authorised professional firm

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