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netting
As Published: 2004
netting
13 a process by which the claims and obligations between two counterparties are offset against each other to leave a single net sum.
permitted unlisted securities
As Published: 2007
permitted unlisted securities
59 in relation to permitted links , means any investment (including a share , debt security , Treasury Bill, Tax Reserve Certificate or Certificate of Tax Deposit) that is not a listed security , but…
UK MiFID investment firm
As Published: 2007
UK MiFID investment firm
20 a MiFID investment firm whose Home State is the United Kingdom (this may include a natural person provided the conditions set out in Article 4(1)(1) of MiFID are satisfied).
specific risk PRA
As Published: 2006
specific risk PRA
45 a PRA for specific risk including any such PRA as applied under BIPRU 7.6.8 R (Table: Appropriate PRA).
weighted average life
As Published: 2011
weighted average life
21 (in accordance with the definitions section in CESR's guidelines on a common definition of European money market funds ) the weighted average of the remaining life (maturity) of each security held…
excepted contract
As Published: 2009
excepted contract
57 (in BCOBS ) has the same meaning as in the Consumer Protection (Distance Selling) Regulations 2000 (SI 2000/2334).
home purchase arranger
As Published: 2006
home purchase arranger
8 a firm with permission (or which ought to have permission ) for arranging a home purchase plan .
fixed overheads requirement
As Published: 2006
fixed overheads requirement
23 the part of the capital resources requirement calculated in accordance with GENPRU 2.1.53 R (Calculation of the fixed overheads requirement).
tier two capital
As Published: 2002
tier two capital
(1) 14 46 121 [deleted] 46 121 (2) (in 26 BIPRU , GENPRU and INSPRU 26 ) an item of capital that is specified in stages G (Upper tier two capital) 26 or H (Lower tier two capital) 26 of the capital re…
defined benefit asset
As Published: 2005
defined benefit asset
the excess of the value of the assets in a defined benefit occupational pension scheme over the present value of the scheme liabilities, to the extent that a firm , as employer, in accordance with the…
small business
As Published: 2001
small business
(in COMP ) a partnership , body corporate , unincorporated association or mutual association with an annual turnover of less than £1 million (or its equivalent in any other currency at the relevant ti…
proven reserves
As Published: 2005
proven reserves
(in LR ): (a) in respect of mineral companies primarily involved in the extraction of oil and gas resources, those reserves which, on the available evidence and taking into account technical and econo…
exempt full scope BIPRU investment firm
As Published: 2009
exempt full scope BIPRU investment firm
58 a full scope BIPRU investment firm falling into BIPRU 12.1.4R.
AVC
As Published: 2001
AVC
a voluntary contribution arrangement paid by a member of an occupational pension scheme under the terms of the scheme or of a separate contract. 49…
Second Life Directive
As Published: 2001
Second Life Directive
the Council Directive of 8 November 1990 on the coordination of laws, etc and laying down provisions relating to facilitate the effective exercise of freedom to provide services and amending Directive…
permitted third party
As Published: 2001
permitted third party
a third party who is: (a) an authorised person ; or (b) an exempt person for whom an authorised person is accepting responsibility; or (c) a person lawfully carrying on a regulated activity in another…
net underwriting exposure
As Published: 2006
net underwriting exposure
19 has the meaning in BIPRU 7.8.34R (Large exposure risk from underwriting securities: Calculating the net underwriting exposure) which is in summary the amount calculated by applying the reduction fa…