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central counterparty
As Published: 2006
central counterparty
256 an entity that legally interposes itself between counterparties to contracts traded within one or more financial markets, becoming the buyer to every seller and the seller to every buyer. [Note: P…
overseas company
As Published: 2005
overseas company
(in LR 98 ) a company incorporated outside the United Kingdom . 20…
issue price
As Published: 2001
issue price
5 (in relation to the issue of units of a dual-priced authorised fund ) the price 46 for each unit payable by the authorised fund manager to the depositary 46 on that issue .
pensions dashboard matching process
As Published: 2022
pensions dashboard matching process
214 the process of: (a) searching the records relating to a relevant pension scheme for a positive match using data provided in a pensions dashboard find request ; and (b) identifying and seeking to r…
stocks and shares ISA business
As Published: 2014
stocks and shares ISA business
126 a firm's activities, in its capacity as an ISA manager , in connection with an ISA which contains only a stocks and shares component and is not either or both MiFID business and designated investm…
UK SFTR
As Published: 2020
UK SFTR
89 the UK version of Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse and amending Regulati…
interim levy
As Published: 2018
interim levy
162 a levy imposed by the FSCS , other than an annual levy .
IDD reinsurance undertaking
As Published: 2018
IDD reinsurance undertaking
160 an undertaking as defined in article 13(4) of the Solvency II Directive which, prior to IP completion day , would have required authorisation under that Directive 173 . [Note: article 2(1)(7) of t…
independent advice
As Published: 2010
independent advice
89 a personal recommendation to a client 150 where the personal recommendation provided meets the requirements of the rule on independent advice ( COBS 6.2B.11R 150 ).
with-profits advisory arrangement
As Published: 2012
with-profits advisory arrangement
(a) 23 an independent person; or (b) if appropriate, one or more non-executive directors appointed to provide independent judgment to the governing body of a firm ; FCA controlled functions which sati…
joint enterprise
As Published: 2001
joint enterprise
(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 o…
relevant general insurance contract
As Published: 2001
relevant general insurance contract
(in COMP ) any general insurance contract other than: (a) [deleted] (b) [deleted] (c) a contract falling within any of the following classes: (i) aircraft ; (ii) ships ; (iii) goods in transit ; (iv)…
banking sector
As Published: 2004
banking sector
13 a sector composed of one or more of the following entities: (a) a credit institution ; (b) a financial institution that is not an investment firm 83 ; and (c) an 23 ancillary services undertaking t…
processing entity
As Published: 2015
processing entity
133 any person providing payment transaction processing services, in terms of the actions required for the handling of a payment instruction between the acquirer and the card issuer in a card payment…
interest-only mortgage
As Published: 2003
interest-only mortgage
20 a regulated mortgage contract other than a repayment mortgage .
internal system evaluation method
As Published: 2014
internal system evaluation method
132 a method for performing an internal custody record check , described in CASS 6.6.19 R .
exempt regulated activity
As Published: 2001
exempt regulated activity
(as defined in section 325(2) of the Act (FCA's 168 general duty)) a regulated activity which may, as a result of Part XX of the Act (Provision of Financial Services by Members of the Professions), be…