Term
Definition
Letter: A
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
actuarial function
controlled function
CF12 in the
table of controlled functions, described more fully in SUP 4.3.13 R and
SUP 10.7.17 R
.
- 31/12/2004
advising on a home finance transaction
- 06/11/2006
advising on a home purchase plan
the regulated activity, specified in article 53C of the Regulated Activities Order, which is in summary: advising a person if the advice:
(b) is advice on the merits of his:
(i) entering into a particular home purchase plan; or
(ii) varying the terms of a home purchase plan entered into by him on or after 6 April 2007 in such a way as to vary his obligations under that plan.
- 06/11/2006
advising on a home reversion plan
the regulated activity, specified in article 53B of the Regulated Activities Order, which is in summary: advising a person if the advice:
(a) is given to him in his capacity as reversion occupier or plan provider or potential reversion occupier or potential plan provider; and
(b) is advice on the merits of his:
(i) entering into a particular home reversion plan; or
(ii) varying the terms of a home reversion plan entered into by him on or after 6 April 2007 in such a way as to vary his obligations under that plan.
- 06/11/2006
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
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
announceable information
information which is usually the subject of a public announcement, although not subject to any formal disclosure requirement.
- 01/12/2004
Annual Accounts
the Council Directive of 19 December 1991 concerning the annual accounts and consolidated accounts of insurance undertakings (No. 91/674/EEC).
- 31/12/2004
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; 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.
- 14/01/2005
arranging
- 01/12/2004
arranging (bringing about) a home finance transaction
- 06/11/2006
arranging (bringing about) a home purchase plan
the regulated activity, specified in article 25C(1) of the Regulated Activities Order, which is in summary: making arrangements for another person to:
(b) vary the terms of a home purchase plan entered into by him as home purchaser on or after 6 April 2007.
- 06/11/2006
arranging (bringing about) a home reversion plan
the regulated activity, specified in article 25B(1) of the Regulated Activities Order, which is in summary: making arrangements for another person to:
(b) vary the terms of a home reversion plan entered into by him as reversion occupier or as plan provider on or after 6 April 2007.
- 06/11/2006
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
(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
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
arranging qualifying credit
the controlled activity, specified in paragraph 10A of Schedule 1 to the Financial Promotion Order, of making arrangements:
(a) for another person to enter as borrower into an agreement for the provision of qualifying credit; or
(b) for a borrower under a regulated mortgage contract, entered into on or after 31 October 2004, to vary the terms of that contract.
- 01/12/2004
arranging safeguarding and administration of assets
that part of safeguarding and administering investments which consists solely of arranging for one or more other persons to carry on both:
(a) the safeguarding of assets belonging to another; and
(b) the administration of those assets.
- 01/12/2004
asset management company
(for the purpose of ELM and
PRU
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.
- 31/12/2005