Glossary

means the regulated activity, specified in article 53 of the Regulated Activities Order (Advising on investments).

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

The changes to this defined term are effective from 23:00 on 31/12/2020.

means any of the following:

(1) the European Central Bank;

(2) the central bank of an EEA State;

(3) the International Bank for Reconstruction and Development;

(4) the European Bank for Reconstruction and Development;

(5) the International Finance Corporation;

(6) the International Monetary Fund;

(7) the Inter-American Development Bank;

(8) the African Development Bank;

(9) the Asian Development Bank;

(10) the Caribbean Development Bank;

(11) the European Investment Bank;

(12) the EU;

(13) the European Atomic Energy Community; and

(14) the Bank of England.

The changes to this defined term are effective from 23:00 on 31/12/2020.

means a credit institution recognised or permitted under the law of the UK to carry on any of the activities set out in Annex 1 to the CRD.

has the meaning given in regulation 2(1) of the Electronic Money Regulations.

This term is defined externally, please refer to:

s417(1) FSMA

means a relationship where undertakings are linked by participations or capital ties other than those referred to in paragraphs (1) and (4) of Article 18 of the CRR.

means the date as which the mathematical reserves are calculated.

means 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.

means analogous non-reinsurance financing agreements, including contingent loans, securitisations and any other arrangements in respect of contracts of insurance that are analogous to contracts of reinsurance in terms of the risks transferred and the finance provided.

means a stock lending transaction in respect of which the conditions in Insurance Company – Risk Management 8.2 have been met.

means an investigation to which Insurance Company – Reporting 5.8 – 5.12 applies.

means investment management functions of an AIFM as set out in 1(a) (portfolio management) or (b) (risk management) of Annex I to AIFMD.

means the regulated activity, specified in article 64 of the Regulated Activities Order (Agreeing to carry on specified kinds of activity).

means the Friendly Society (Accounts and Related Provisions) Regulations 1994.

means the regulated activity specified in article 25(1) of the Regulated Activities Order.

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.

has the meaning given in regulation 2(1) of the Payment Services Regulations.

This term is defined externally, please refer to:

s237(3) FSMA

means a person in relation to whom the FCA or the PRA has given its approval under section 59 of FSMA (Approval for particular arrangements) for the performance of a controlled function.