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has the meaning given in regulation 2(1) of the Electronic Money Regulations.
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(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. -
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. -
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 the date as which the mathematical reserves are calculated.
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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 a quasi-derivative in respect of which the conditions in Insurance Company – Risk Management 6.2 are met.
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means an investigation to which Insurance Company – Reporting 5.8 – 5.12 applies.
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means the regulated activity, specified in article 64 of the Regulated Activities Order (Agreeing to carry on specified kinds of activity).
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means a derivative in respect of which the conditions in Insurance Company – Risk Management 6.2 are met.
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means the Friendly Society (Accounts and Related Provisions) Regulations 1994.
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has the meaning given in the Glossary to the FCA Handbook.
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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 (in relation to a person) an undertaking in the same group as that person.
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The changes to this defined term are effective from 23:00 on 31/12/2020.
means a legal person whose regular business is managing one or more alternative investment funds.
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The changes to this defined term are effective from 23:00 on 31/12/2020.
means a collective investment undertaking, including investment compartments thereof which:
(1) raises capital from a number of investors, with the intention of investing it in accordance with a defined investment policy for the benefit of those investors; and
(2) does not require authorisation pursuant to article 5 of the UCITS Directive.
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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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has the meaning given in s39(2) FSMA.