FCA Handbook | Glossary Terms

means the UK version of Commission Delegated Regulation (EU) No. 694/2014 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to regulatory technical standards determining types of alternative investment fund managers, which is part of UK law by virtue of the EUWA.

the UK version of Commission delegated regulation (EU) No 231/2013 supplementing Directive 2011/16/EU of the European Parliament and of the Council with regard to exemptions, general operating conditions, depositaries, leverage, transparency and supervision, which is part of UK law by virtue of the EUWA.

the Alternative Investment Fund Managers Regulations 2013 (SI 2013/1773 )

(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), upon aircraft or upon the machinery, tackle, furniture or equipment of aircraft.

(in relation to a class of contract of insurance) the class of contract of insurance, specified in paragraph 11 of Part I of Schedule 1 to the Regulated Activities Order (Contracts of general insurance), against damage arising out of or in connection with the use of aircraft, including third-party risks and carrier's liability.

trading in financial instruments which meets the following conditions:

1. (a) where a computer algorithm automatically determines individual parameters of orders such as whether to initiate the order, the timing, price or quantity of the order for how to manage the order after its submission; and
2. (b) there is limited or no human intervention; but

does not include any system that is only used for the purpose of routing orders to one or more trading venues or the processing of orders involving no determination of any trading parameters or for the confirmation of orders or the post-trade processing of executed transactions.

the requirement under CASS 7.13.65 R on a firm using the alternative approach to segregate an amount of money as client money.

the record created and maintained by a firm underCASS 7.13.66 R to CASS 7.13.68 R.

1. (1) the investment specified in article 77A of the Regulated Activities Order (Alternative finance investment bonds);
1. (2) (in COLL) in addition and to the extent it does not fall within (1), an investment which would have been within the definition of “alternative debenture” in the FCA Handbook immediately before IP completion day.

a collective investment undertaking, including investment compartments thereof, which:

1. (a) raises capital from a number of investors, with a view to investing it in accordance with a defined investment policy for the benefit of those investors; and
1. (b) is not a UK UCITS.

[Note: article 4(1)(a) of AIFMD]

a legal person whose regular business is performing AIFM investment management functions for one or more AIF.

[Note: article 4(1)(b) of AIFMD)]

(in COBS) a projection calculated on the basis described in paragraph 1.5R of the projection rules (COBS 13 Annex 2), rather than in accordance with the remainder of those rules.

the American Express IFR card payment system.

an activity which is not a regulated activity but which is:

1. (a) carried on in connection with a regulated activity; or
1. (b) held out as being for the purposes of a regulated activity.

(in accordance with regulation 3(6) of the DSS Regulations) any activities ancillary to an FMI activity where those activities are carried out by:

1. (a) a person to whom regulation 3(4) of the DSS Regulations applies; or
2. (b) a sandbox entrant.

(in relation to any undertaking in a consolidation group, sub-group or other group of persons) an undertaking complying with the following conditions:

1. (a) its principal activity consists of:
   1. (i) owning or managing property; or
   1. (ii) managing data-processing services; or
   1. (iia) providing health and care services; or
   1. (iii) any other similar activity;
1. (b) the activity in (a) is ancillary to the principal activity of one or more insurance undertakings; and
1. (c) those insurance undertakings are also members of that consolidation group, sub-group or other group of persons.

(1) (except in CONC) any of the services listed in Part 3A of Schedule 2 to the Regulated Activities Order, that is:

1. (a) safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management but excluding maintaining securities accounts at the top tier level, (‘central maintenance service’) referred to in point 2 of Section A of the Annex to CSDR;
1. (b) granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction;
1. (c) advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings;
1. (d) foreign exchange services where these are connected to the provision of investment services;
1. (e) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments;
1. (f) services related to underwriting; and
1. (g) investment services and activities included in Part 3 of Schedule 2 to the Regulated Activities Order, as well as ancillary services, of the type included in Part 3A, related to the underlying of the derivatives included in paragraphs 5, 6, 7 or 10 of Part 1 of Schedule 2 to the Regulated Activities Order where these are connected to the provision of investment or ancillary services.

[Note: article 2(3) of MiFIR ]

(2) (in CONC) a service that relates to entering into a regulated credit agreement as lender and includes, in particular, an insurance or payment protection policy.

1. (1) [deleted]
1. (2) [deleted]
1. (3) means an undertaking the principal activity of which consists of owning or managing property, managing data-processing services, or a similar activity which is ancillary to the principal activity of one or more investment firms.

has the meaning in article 4(1)(26A) of the UK CRR.