49 regulated activity group.

123the MiFID 2 Onshoring132 Guide

57a guaranteed asset protection contract; this is a contract of insurance covering a policyholder, in the event of total loss to a vehicle, against the difference between:

1. (a) the amount claimed under the policyholder’svehiclepolicy in respect of that loss; and
1. (b) an amount defined in, or calculated in accordance with, the GAP contract.

43a UCITS scheme or an EEA UCITS scheme81.

a designated investment , which is not the property of the firm, but for which the firm, or any nominee company controlled by the firm or by its associate, is accountable; which has been paid for in full by the client ; and which ceases to be a safe custody investment when the firm has disposed of it in accordance with a valid instruction.5

2the FSA/OFT Joint Guidance on Payment Protection Products.

a direction waiving or modifying a rule, given by the appropriate regulator46 under section 138A of the Act (Modification or waiver of rules) or by the FCA under sections46 250, 261L24 or 294 of the Act (Modification or waiver of rules46) or regulation 7 of the OEIC Regulations (see SUP 8 and REC 3.3).3

70(in BSOCS) the Building Societies Act 1986.

185(in LR and DTR) International Accounting Standards.

15the part of the K-factor requirement calculated on the basis of the ASA of a MIFIDPRU investment firm in accordance with MIFIDPRU 4.9 (K-ASA requirement).

1. (a) if the policyholder is an individual, the address given by the policyholder as his residence if it reasonably appears to be a residential address and there is no evidence to the contrary;
1. (b) if the policyholder is not an individual or a group of individuals, the State in which the policyholder has its place of establishment, or, if it has more than one, its relevant place of establishment;
1. (c) in respect of the variation of a life policy, or the purchase of a pension annuity related to a life policy, unless there is evidence to the contrary, the habitual residence of the policyholder at the date on which the policyholder signed the proposal for the life policy.1

a person who arranges (brings about ) deals between counterparties at mutually acceptable terms and passes their names to each of them to facilitate the conclusion of a transaction.2

51in accordance with section 189(1) of the CCA, includes an interest in land, and, in Scotland, includes heritable subjects of whatever description.

22means the amount of a valuation position that is sensitive to the movement in a valuation input.

185the Cheque & Credit 190regulated payment system designated by HM Treasury under section 43 of FSBRA.COLL 4.2.5R(3)(c-b)(ii)

(in relation to a recognised body) the facilities and services which it provides in the course of carrying on exempt activities2. References149 to the use of the facilities of an RIE125or RAP136136 are to be construed as follows:25

1. 25 59
1. 25 59
1. 25 59
1. 25 59
1. 25
1. (a) dealings or transactions on an RIE or RAP136125are references to dealings or transactions which are effected by means of the RIE's or RAP’s136125facilities or which are governed by the rules of the RIE125or RAP136;14959
1. (b) references to the use of the facilities of an RIE136or RAP136125include use which consists of any such dealings or entering into any such transactions.59

1. (a) (in relation to a borrower) in accordance with article 36H of the Regulated Activities Order, an agreement by which one person provides another person with credit (within the meaning of article 60L of the Regulated Activities Order) and in relation to which:140
   1. (i) the operator of the electronic system in relation to lending which facilitates the agreement does not provide credit (within that meaning), assume the rights (by assignment or operation of law) of a person who provided credit, or receive credit under the agreement; 140
   1. (ii) the borrower is an individual; and140
   1. (iii) either condition (A) or (B) is satisfied:140
      1. (A) the lender provides credit (within that meaning) of less than or equal to £25,000; or140
      1. (B) the agreement is not entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower.140
1. (b) (in relation to a lender) in accordance with article 36H of the Regulated Activities Order, an agreement by which one person provides another person with credit (within the meaning of article 60L of the Regulated Activities Order) and in relation to which either:140
   1. (i) the lender is an individual or was an individual at the time the agreement was entered into; or140
   1. (ii) if the lender is not an individual or was not an individual at the time the agreement was entered into, either condition (A) or (B) is satisfied, or was satisfied at the time the agreement was entered into:140
      1. (A) the lender provides credit (within that meaning) of less than or equal to £25,000; or140
      1. (B) the agreement is not entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower;140
   provided, in either case, that the operator of the electronic system in relation to lending which facilitates the agreement does not provide credit (within that meaning), assume the rights (by assignment or operation of law) of a person who provided credit, or receive credit under the agreement.140
113

means a market observable or non-observable parameter or matrix of parameters that influences the fair value of a valuation position.

an authorised fund whose instrument constituting the fund24 contains the statement in COLL 8.2.6 R 1(2) (Table: contents of the instrument constituting the fund24) that it is a qualified investor scheme.

(in COLL) a period determined in accordance with COLL 6.8.2 R (2) (Accounting periods).16

(in relation to a class of contract of insurance) the class of contract of insurance, specified in paragraph 5 of Part I of Schedule 1 to the Regulated Activities Order (Contracts of general insurance), against loss of or damage to railway rolling stock.5

176the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 (SI 2013/2734).

163A written communication to a member of a personal pension scheme or stakeholder pension scheme which is required by Regulation 8A of the Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) Regulations 2015 (SI 2015/742).

50 Capital Adequacy Directive.

(as defined in article 3(1) of the Regulated Activities Order (Interpretation)) an enterprise into which two or more persons ("the participators") enter for commercial purposes related to a business or businesses (other than the business of engaging in a regulated activity) carried on by them; where a participator is a member of a group, each other member of the group is also to be regarded as a participator in the enterprise. 1

15the part of the K-factor requirement calculated on the basis of the AUM of a MIFIDPRU investment firm in accordance with MIFIDPRU 4.7 (K-AUM requirement).

118the table of controlled functions in SUP 10A.4.4 RS.

69 financial instruments of a UCITS that can be:

1. (a) registered in a financial instruments account opened in the depositary’s books; or
1. (b) physically delivered to the depositary.
1. [Note: article 22(5) of the UCITS Directive and article 12 of the UCITS level 2 regulation]70

127the levy payable to the FCA in respect of the provision of debt advice by the Devolved Authorities under FEES 7B.

a notice issued by the appropriate regulator46 in accordance with section 387 of the Act (Warning notices).3

(in relation to an EEA State) a professional organisation which:

1. (a) has been constituted in that State in accordance with Recommendation No 5 adopted on 25 January 1949 by the Road Transport Sub-committee of the Inland Transport Committee of the United Nations Economic Commission for Europe; and
1. (b) groups together insurance undertakings which in that State are authorised to conduct the business of motor vehicle liability insurance.2

140a person carrying on an activity of the kind specified by article 36H(1) or 36H(2D) of the Regulated Activities Order.

(in LR) the Market Abuse Directive.28

4a situation in which futures prices are lower than cash prices.

51(in CONC App 1.1) a credit agreement which is

1. (a) intended primarily to finance the acquisition or retention of land; or
1. (b) intended to finance the renovation or improvement of a building,

or any other credit agreement secured by a legal mortgage on land or, in Scotland, by a standard security within the meaning of the Conveyancing and Feudal Reform (Scotland) Act 1970.

117has the meaning given in section 137FBB(6) of the Act, which is, in summary:

1. (a) a charge imposed on a member of a personal pension scheme or stakeholder pension scheme:
   1. (i) when that member, having reached normal minimum pension age, takes the action set out in (b); but
   1. (ii) which is only imposed, or only imposed to that extent, if the member takes that action before the member’s expected retirement date; and
1. (b) the action is the member taking benefits, converting benefits into different benefits or transferring benefits to another pension scheme; and
1. (c) in this definition:
   1. (i) a reference to “benefits” includes all or any part of the member’s benefits under the scheme;
   1. (ii) “charge” includes a reduction in the value of the member’s benefits under the scheme;
   1. (iii) “expected retirement date” means the date determined by or in accordance with the scheme as the date on which the member’s benefits under the scheme are expected to be taken; and
   1. (iv) “normal minimum pension age” has the meaning given in section 279(1) of the Finance Act 2004.
   [Note: the meaning of “normal minimum pension age” referred to in (c)(iv) above, is, in summary, in relation to dates on and after 6 April 2010, 55 and, in relation to dates before 6 April 2010, 50].

(in relation to an EEA State) a body which:

1. (a) has been set up or authorised in that State in accordance with article 1(4) of Council Directive (84/5/EEC); and
1. (b) provides compensation for damages to property or personal injuries caused by unidentified vehicles for which the insurance obligation provided for in article 1(1) of that Directive has not been satisfied.2

28see range of packaged products and range of stakeholder products.

3the JCB International IFR card payment system.

1. (a) (a scheme24 specified in article 3(1) of the Regulated Activities Order (Interpretation)) which is, in summary, a pension scheme established for the purpose of providing benefits to people with service in employments of a prescribed description.24

the FCA Handbook.36

129(in FEES 9) The Payment Card Interchange Fee Regulations 2015 (SI 2015/1911).

45 fund of alternative investment funds.

86a person who has temporary EMI authorisation.

the European Parliament and43 Council Directive of 13 July 200943 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (No 2009/65/EC),43 , as amended.15

32(in relation to claims (as defined for the purposes of INSPRU52 , SUP and TC)) claims that have been incurred but not reported arising out of events that have occurred by the balance sheet date but have not been reported to the insurance undertaking at that date.

4the method known by that name for modifying the net premium reserve method of valuing a long-term insurance contract by increasing the part of the future premiums for which credit is taken so as to allow for initial expenses.

(in relation to a class of contract of insurance) the class of contract of insurance, specified in paragraph 3 of Part I of Schedule 1 to the Regulated Activities Order (Contracts of general insurance), against loss of or damage to vehicles used on land, including motor vehicles but excluding railway rolling stock.2

15a permission granted to a MIFIDPRU investment firm in accordance with MIFIDPRU 4.13.9R allowing the firm to calculate a K-CMG requirement in respect of a portfolio.

182a collection of agreements that consist wholly of P2P agreements or a combination of P2P agreements and non-P2P agreements facilitated by an operator of an electronic system in relation to lending with the aim of achieving a target rate for a lender.