Glossary

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

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

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.

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

This term is defined externally, please refer to:

s237(3) FSMA

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.

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

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

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.

means valuation methods that are consistent with the Valuation 2.1 and 2.2, other than those which solely use the quoted market prices for the same or similar assets or liabilities.