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.

means the amount of common equity tier 1 capital as defined in Article 50 of the CRR a firm or CRR consolidation entity must calculate in accordance with 4A.1 and 4A.2 of the Leverage Ratio – Capital Requirements and Buffers Part.

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).

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 a relationship of one of the following kinds:

(1) where an institution exercises a significant influence over one or more institutions or financial institutions, but without holding a participation or other capital ties in these institutions; or

(2) where two or more institutions or financial institutions are placed under single management other than pursuant to a contract or clauses of their memoranda or articles of association.

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

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.

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

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.

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.

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.