-
the regulated activity, specified in article 57 of the Regulated Activities Order (Managing the underwriting capacity of a Lloyd's syndicate), of managing the underwriting capacity of a Lloyd's syndicate as a managing agent at Lloyd's.
-
the investment , specified in article 86(2) of the Regulated Activities Order, which is a person's membership (or prospective membership) of a Lloyd's syndicate.
-
(in LLD) the provision made for a member to cover liabilities (excluding liabilities which have fallen due and liabilities arising from deposit back arrangements) arising under or in connection with long-term insurance contracts.
-
any of the offences described in section 397 of the Act (Misleading statements and practices), which are in summary:(a) the offence of:(i) making a statement, promise or forecast, which the person making the statement, promise or forecast knows to be misleading, false or deceptive in a material particular; or(ii) dishonestly concealing any material facts whether in connection with a statement, promise or forecast made by the person concealing the facts or otherwise; or(iii) recklessly making (dishonestly or otherwise) a statement, promise or forecast which is misleading, false or deceptive in a material particular;where the person makes the statement, promise or forecast or conceals the facts for the purpose of inducing, or is reckless as to whether it may induce, another person (whether or not that person is the same person to whom the statement, promise or forecast is made):(A) to enter or offer to enter into, or to refrain from entering or offering to enter into, a relevant agreement; or(B) to exercise, or refrain from exercising, any rights conferred by a relevant investment;(b) the offence of doing any act or engaging in any course of conduct which creates a false or misleading impression as to the market in or the price or value of any relevant investments where the act was done or the course of conduct engaged in for the purpose of creating that impression and of thereby inducing another person to acquire, dispose of, subscribe for or underwrite those investments or to refrain from doing so, or to exercise, or refrain from exercising, any rights conferred by those investments;in this definition:"relevant agreement" means an agreement:(I) the entering into or performance of which by either party constitutes an activity of a kind specified in an order made by the Treasury or one which falls within a specified class of activity; and(II) which relates to a relevant investment;"relevant investment" means an investment of a kind specified in an order made by the Treasury or one which falls within a class of investment prescribed in regulations made by the Treasury.
-
the excess of the value of an insurer's assets over the amount of its liabilities, that value and amount being determined in accordance with IPRU(INS) and IPRU(FSOC).
-
(in accordance with article 2(e) of the Distance Marketing Directive) any means used for the distance marketing of a service between parties which does not involve the simultaneous physical presence of those parties.
-
the individual appointed by a relevant firm in accordance with ML 7.1 .
-
the regulated activity, specified in article 37 of the Regulated Activities Order (Managing investments), which is in summary: managing assets belonging to another person in circumstances which involve the exercise of discretion, if:(a) the assets consist of or include any security or contractually based investment (that is, any designated investment, funeral plan contract or right to or interest in a funeral plan contract); or(b) the arrangements for their management are such that the assets may consist of or include such investments, and either the assets have at any time since 29 April 1988 done so, or the arrangements have at any time (whether before or after that date) been held out as arrangements under which the assets would do so.
-
(as defined in article 3(1) of the Regulated Activities Order) a person who is permitted by the Council in the conduct of his business as an underwriting agent to perform for a member one or more of the following functions:(a) underwriting contracts of insurance at Lloyd's;(b) reinsuring such contracts in whole or in part;(c) paying claims on such contracts.
-
an underwriting agent who carries on the regulated activity of advising on syndicate participation at Lloyd's.
-
the amount determined in accordance with LLD 11.3.1 R (General insurance business) or LLD 11.3.4 R (Long-term insurance business).
-
outsourcing services of such importance that weakness, or failure, of the services would cast serious doubt upon the firm's continuing satisfaction of the threshold conditions or compliance with the Principles.
-
a firm with permission to deal in investments as principal other than:(b) a UCITS management company; or(c) an insurer; or(d) a local;and which satisfies the following conditions:(e) it deals as principal only to fulfil customer orders;(f) it holds positions for its own account only as a result of a failure to match investors' orders precisely;(g) the total market value of the positions is no higher than 15% of the firm's initial capital; and(h) the positions are incidental and provisional in nature and strictly limited to the time required to carry out the transaction in question.
-
general insurance business of class 10, other than:(a) carrier's liability;(b) pure reinsurance of that class.
-
a person who carries on money service business other than a firm , a BCD credit institution or a financial institution.
-
the information centre appointed to meet the United Kingdom's obligations under article 5 of the Fourth Motor Insurance Directive (Information Centres).
-
(in relation to a class of contract of insurance ) the class of contract of insurance , specified in paragraph II of Part II of Schedule 1 to the Regulated Activities Order (Contracts of long-term insurance), to provide a sum on marriage or on the birth of a child, being contracts expressed to be in effect for a period of more than one year.
-
any act which:(a) constitutes an offence under section 18 (Money laundering) of the Terrorism Act 2000; or(b) constitutes an offence under section 327 (Concealing etc), section 328 (Arrangements) or section 329 (Acquisition, use and possession) of the Proceeds of Crime Act 2002; or(c) constitutes an attempt, conspiracy or incitement to commit an offence specified in paragraph (b); or(d) constitutes aiding, abetting, counselling or procuring the commission of an offence specified in paragraph (b); or(e) would constitute an offence specified in paragraph (b), (c), or (d) if done in the United Kingdom.
-
(in accordance with Article 1(j) of the Insurance Groups Directive (Definitions)) a parent undertaking, other than an insurance undertaking, an insurance holding company or a mixed financial holding company, the subsidiary undertakings of which include at least one insurance undertaking.
-
(in relation to a class of contract of insurance ) the class of contract of insurance, specified in paragraph 16 of Part I of Schedule 1 to the Regulated Activities Order (General contracts of insurance), against any of the following risks:(a) risks of loss to the persons insured attributable to interruptions of the carrying on of business carried on by them or to reduction of the scope of business so carried on;(b) risks of loss to the persons insured attributable to their incurring unforeseen expense (other than loss such as is covered by contracts within paragraph 18 of Part I of Schedule 1 to the Regulated Activities Order (Assistance));(c) risks which do not fall within paragraphs (a) or (b) and which are not of such a kind that contracts of insurance against them fall within any other provision of Schedule 1 to the Regulated Activities Order.