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(1) (in GENPRU 3.1) a manager of alternative investment funds within the meaning of Article 4(1)(b), (l) and (ab) of Directive 2011/61/EU or an undertaking which is outside the EEA and which would require authorisation in accordance with Directive 2011/61/EU if it had its registered office within the EEA.(2) (except in GENPRU 3.1 and in accordance with article 4(1)(b) of AIFMD) a legal person whose regular business is performing AIFM investment management functions for one or more AIF.
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(in accordance with article 4(1)(a) of AIFMD) a collective investment undertaking, including investment compartments thereof, which:(a) raises capital from a number of investors, with a view to investing it in accordance with a defined investment policy for the benefit of those investors; and(b) does not require authorisation pursuant to article 5 of the UCITS Directive.
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the investment specified in article 77A of the Regulated Activities Order (Alternative finance investment bonds).
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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.
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(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.
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a firm which:(a) is:(i) a full-scope UK AIFM; or(ii) an incoming EEA AIFM branch; and(b) has a Part 4A permission (or an equivalent permission from its Home State regulator) for managing investments where:
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one of the following:(a) a version of the standardised approach to operational risk under which a firm uses different indicators for certain business lines as referred to in BIPRU 6.4.19 R (The alternative standardised approach);(b) (where the approach in (a) is being applied on a consolidated basis) the method in (a) as applied on a consolidated basis in accordance with BIPRU 8 (Group risk - consolidation); or(c) when the reference is to the rules of or administered by a regulatory body other than the appropriate regulator, whatever corresponds to the approach in (a) or (b), as the case may be, under those rules.
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(in COBS) a projection calculated on the basis described in paragraph 1.5R of the projection rules (COBS 13 Annex 2), rather than in accordance with the remainder of those rules.
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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).