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MiFID Regulation
As Published: 2006
MiFID Regulation
39 Commission Regulation (EC) 1287/2006 implementing Directive 2004/39/EC of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment f…
benchmark contributor
As Published: 2018
benchmark contributor
74 (1) a third country benchmark contributor ; or (2) a UK benchmark contributor . [Note: neither acting as a benchmark contributor nor contributing input data to a BMR benchmark administrator is a re…
complaints reporting directions
As Published: 2018
complaints reporting directions
215 The directions in DISP 1.10B .
exercise time
As Published: 2005
exercise time
(in LR ) (in relation to securitised derivatives ), the time stipulated by the issuer by which the holder must exercise their rights. 26…
credit rating agency
As Published: 2019
credit rating agency
230 (as defined in Article 3(1)(b) of the CRA Regulation ) means a legal person whose occupation includes the issuing of credit ratings on a professional basis.
standard listing (shares)
As Published: 2010
standard listing (shares)
98 a standard listing of shares other than equity shares of an open-ended investment company or 204 preference shares that are specialist securities .
EIS subscription
As Published: 2001
EIS subscription
any money which is subscribed: (a) in the case of an EIS managed portfolio , by the client of the EIS manager whose portfolio it is; (b) in the case of an EIS fund , by the participants in the EIS . 4…
residual risk
As Published: 2015
residual risk
142 (in MIPRU ) the risk that credit risk mitigation techniques used by the firm prove less effective than expected.
reverse takeover
As Published: 2005
reverse takeover
(in LR ) a transaction classified as a reverse takeover under LR 5.6 . 113 31…
payment service customer
As Published: 2019
payment service customer
180 (in BCOBS ): (a) a consumer ; (b) a micro-enterprise ; or (c) a charity which has an annual income of less than £1 million.
best estimate
As Published: 2022
best estimate
80 a best estimate valuation should reflect the actuary’s expectation of future experience for each risk factor given all available, relevant experience and information pertaining to the assumption be…
reattribution expert
As Published: 2005
reattribution expert
35 the expert appointed by a firm to satisfy its obligations under COBS 20.2.47 R (Reattribution expert). 54…
foreign law contract
As Published: 2011
foreign law contract
58 any contract other than a contract: (a) governed by the laws of any part of the United Kingdom ; and (b) whose parties agree to the exclusive jurisdiction of the courts of any part of the United Ki…
chief operations function
chief operations function
236 FCA controlled function SMF24 in the table of FCA-designated senior management functions , described more fully in SUP 10C.6B.2R .
LTIF Regulation
As Published: 2019
LTIF Regulation
79 the UK version of Regulation (EU) 2015/760 of the European Parliament and of the Council of 29 April 2015 on European long-term investment funds which is part of UK law by virtue of the EUWA .
existing funeral plan product
As Published: 2022
existing funeral plan product
151 (for the purposes of PROD 1.7 and PROD 7 ) a funeral plan product : (1) that was manufactured prior to 29 July 2022; (2) is available to be marketed or distributed to customers .
stakeholder product
As Published: 2004
stakeholder product
27 (as defined in article 52B(3) of the Regulated Activities Order ): (a) a stakeholder CTF ; or (b) a stakeholder pension scheme ; or (c) an investment of a kind specified in the Stakeholder Regulati…
Lloyd's Members' Ombudsman
As Published: 2001
Lloyd's Members' Ombudsman
the office of Ombudsman established under Lloyd's Members' Ombudsman Scheme Byelaw (No 13 of 1987). 2…
similar institution
As Published: 2021
similar institution
208 a similar institution as defined in MIFIDPRU 3 Annex 7.5R .