PRA Rulebook Glossary

Printed on: 01/07/2024

Rulebook at: 23/07/2013

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

accountable significant-influence function

  • 01/04/2013

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

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 DTR ) 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.
  • 22/12/2006

advanced prudential calculation approach

one of the following:
(a) the IRB approach; or
(b) the advanced measurement approach; or
(c) the VaR model approach; or
(d) the CAD 1 model approach; or
(e) the master netting agreement internal models approach; or
(f) the CCR internal model method;
including, in each case, whatever corresponds to that approach under the rules of or administered by a regulatory body other than the appropriate regulator .
  • 01/04/2013

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:
(a) is given to him in his capacity as a home purchaser or potential home purchaser; and
(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 regulated sale and rent back agreement

the regulated activity, specified in article 53D of the Regulated Activities Order, which is in summary advising a person if the advice:
(a) is given to a person in his capacity as:
(i) an agreement seller or potential agreement seller; or
(ii) an agreement provider or potential agreement provider; and
(b) is advice on the merits of his doing either of the following:
(i) entering into a particular regulated sale and rent back agreement; or
(ii) varying the terms of a regulated sale and rent back agreement entered into on or after 1 July 2009 by him as agreement seller or agreement provider, in such a way as to vary his obligations under that agreement and in relation to a person who acquires obligations or rights under a regulated sale and rent back agreement, an activity is a specified kind of activity for the purposes of this part of the definition only if the agreement was entered into by the agreement provider (rather than the obligations or rights acquired) on or after 1 July 2009.
  • 01/07/2009

advising on investments

(1) (except in SUP 10A (Approved Persons) and APER) 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 SUP 10A (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.
  • 23/07/2013

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

  • 23/07/2013

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 consolidation rules

(in respect of a financial sector and in accordance with paragraph 6.9 of GENPRU 3 Annex 1 (Applicable sectoral consolidation rules)) the appropriate regulator's sectoral rules about capital adequacy and solvency on a consolidated basis applicable to that financial sector under the table in paragraph 6.10 of GENPRU 3 Annex 1.
  • 01/04/2013

appropriate UK regulator

(1) in relation to an EEA firm (in accordance with Schedule 3 paragraph 13(4) and 14(4) to the Act), whichever of the FCA or PRA is the competent authority for the purposes of the relevant Single Market Directive; (2) in relation to a UK firm (in accordance with Schedule 3 paragraph 18A to the Act),(a) the PRA, where the firm is a PRA-authorised person; and(b) in any other case, the FCA.(3) in relation to a Treaty firm (in accordance with section 35(2A) of the Act),(a) in the case of a PRA-authorised person, the PRA; and(b) in any other case, the FCA.
  • 01/04/2013

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 one other 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; or
(c) an agreement under which members of a syndicate in one syndicate year ("the reinsured members") agree with a subsidiary of the Society that that subsidiary 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 ("the reinsured liabilities") and where:
(i) that subsidiary is wholly owned by the Society and if from time to time the subsidiary has an asset or cash flow deficiency such that the subsidiary is unable to meet any of the liabilities which it has reinsured, the Society is legally obliged to pay to the subsidiary a sum equal to that deficiency; and
(ii) at the effective date of the agreement, the relevant syndicate year has been open for at least two years after the date at which it would normally have been closed in accordance with the policies and practices in relation to the syndicate concerned.
  • 31/12/2009

approved stock lending transaction

a stock lending transaction in respect of which the conditions in INSPRU 3.2.36 R have been met.
  • 31/12/2006

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

asset pool monitor

a person appointed under regulation 17A of the RCB Regulations.
  • 01/01/2013