Glossary

accepting deposits

01/02/2014

accounting reference date

02/04/2015

(1) in relation to a company incorporated in the UK under the Companies Acts, means the accounting reference date of that company determined in accordance with section 391 of the Companies Act 2006; and
(2) in relation to any other body, means the last day of its financial year.

actuarial body

19/06/2014

means the Institute and Faculty of Actuaries.

actuary

19/06/2014

means a fellow of an actuarial body or (in connection with general insurance business) a Fellow of the Casualty Actuarial Society who is a member of an actuarial body.

advising on investments

03/08/2015

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

advising on pension transfers and pension opt-outs

03/08/2015

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

affiliated company

01/02/2014

means (in relation to a person) an undertaking in the same group as that person.

agreeing to carry on a regulated activity

03/08/2015

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

AIF

03/08/2015

means an alternative investment fund.

AIFM

03/08/2015

means alternative investment fund manager.

AIFM investment management functions

03/08/2015

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

AIFMD

03/08/2015

means Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010.

aircraft

03/07/2015

means the class of contract of insurance, specified in paragraph 5 of Part I of Schedule 1 to the Regulated Activities Order.

aircraft liability

03/07/2015

means the class of contract of insurance, specified in paragraph 11 of Part I of Schedule 1 to the Regulated Activities Order.

alternative investment fund

03/08/2015

has the meaning given in article 4(1)(a) of AIFMD.

alternative investment fund manager

03/08/2015

has the meaning given in article 4(1)(b) of AIFMD.

ancillary activity

19/06/2014

means an activity which is not a regulated activity but which is:

(1) carried on in connection with a regulated activity; or

(2) held out as being for the purposes of a regulated activity.

ancillary service

02/04/2015

means any of the services listed in Section B of Annex 1 to MiFID.

annual report and accounts

03/08/2015

means

(1) (in relation to a company incorporated in the UK) an annual report and annual accounts as those terms are defined in section 471 of the Companies Act 2006 together with an auditor's report prepared in relation to those accounts under sections 495 to 497A of the same Act;
(2) (in relation to any other body) any similar or analogous documents which it is required to prepare whether by its constitution or by the law under which it is established.

appointed representative

02/04/2015

has the meaning given in s39(2) FSMA.

approved person

19/06/2014

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.

arranging (bringing about) deals in investments

03/08/2015

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

arranging safeguarding and administration of assets

03/08/2015

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.

Article 12(1) relationship

03/08/2015

means a relationship where undertakings are linked by a relationship within the meaning of Article 12(1) of Directive 83/349 EEC. 

Article 18(5) relationship

03/08/2015

means a relationship where undertaking are linked by participations or capital ties other than those referred to in paragraphs (1) and (2) of Article 18 of the CRR.

associate

02/04/2015

means (in relation to a person ("A")):

(1) an affiliated company of A;
(2) an appointed representative of A, or a tied agent of A, or of any affiliated company of A; and
(3) any other whose business or domestic relationship with A or A’s associate might reasonably be expected to give rise to a community of interest between them which may involve a conflict of interest in dealings with third parties.

authorised person

02/04/2015

s417(1) FSMA