PRA Rulebook Glossary

Printed on: 01/07/2024

Rulebook at: 06/07/2006

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

accumulation unit

a unit in respect of which income is credited periodically to capital under CIS 9.2.4 R (Annual allocation to accumulation shares or accumulation units) or CIS 9.2.6 R (Interim allocations of income).
  • 01/12/2004

actuarial function

  • 31/12/2004

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.
  • 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 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.
  • 06/07/2006

advising on investments (except pension transfers and pension opt-outs)

  • 01/12/2004

advising on pension transfers and pension opt-outs

advising on investments in respect of pension transfers and pension opt-outs.
  • 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

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.
  • 01/12/2004

agreeing to carry on a regulated activity

  • 01/12/2004

allocation period

a single 24-hour period or, with the agreement of each intermediate customer concerned, a period spanning five consecutive business days, during which an aggregated series of transactions may be executed.
  • 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 bonus

(in relation to a with-profits insurance contract) a discretionary addition to policy benefits under a with-profits insurance contract made by a long-term insurer as a result of the annual actuarial investigation.
  • 31/12/2004

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.
  • 01/12/2004

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.
  • 01/12/2004

applications day

the first day on which section 40 of the Act (Application for permission) comes into force (for any purpose).
  • 01/12/2004

Appointed Representatives Regulations

the Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001 (SI 2001/1217).
  • 01/12/2004

arranging (bringing about) deals in investments

the regulated activity, specified in article 25(1) of the Regulated Activities Order, which is in summary: making arrangements for another person (whether as principal or agent) to buy, sell, subscribe for or underwrite a particular investment which is:
(a) a designated investment; or
(b) a funeral plan contract; or
(c) the underwriting capacity of a Lloyd's syndicate; or
(d) membership of a Lloyd's syndicate; or
(da) a pure protection contract; or
(db) a general insurance contract; or
(e) rights to or interests in investments in (b), (c) or (d).
  • 01/12/2004

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.
  • 01/12/2004

authorised professional firm

  • 01/12/2004