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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.
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means an investigation to which Insurance Company – Reporting 5.8 – 5.12 applies.
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means the Friendly Society (Accounts and Related Provisions) Regulations 1994.
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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.
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means the regulated activity, specified in article 53 of the Regulated Activities Order (Advising on investments).
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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.
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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.
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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.
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has the meaning given in regulation 2(1) of the Electronic Money Regulations.
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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. -
This term is defined externally, please refer to:
s417(1) FSMA
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means the date as which the mathematical reserves are calculated.
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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.
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means a with-profits policy which has a readily identifiable current benefit, whether or not this benefit is currently realisable, which is adjusted by an amount explicitly related to the amount of any premium payment and to which additional benefits are added in respect of participation in profits by additions directly related to the current benefit, or a policy with similar characteristics.
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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.
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means a quasi-derivative in respect of which the conditions in Insurance Company – Risk Management 6.2 are met.
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means a stock lending transaction in respect of which the conditions in Insurance Company – Risk Management 8.2 have been met.