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(in accordance with Part 1 of Annex III of the Banking Consolidation Directive (Definitions) and for the purpose of BIPRU 13 (The calculation of counterparty risk exposure values for financial derivatives, securities financing transactions and long settlement transactions)) the time period from the last exchange of collateral covering a netting set of transactions with a defaulting counterpart until that counterpart is closed out and the resulting market risk is re-hedged.
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(in accordance with Part 1 of Annex III of the Banking Consolidation Directive (Definitions) and for the purpose of BIPRU 13 (The calculation of counterparty risk exposure values for financial derivatives, securities financing transactions and long settlement transactions)) the largest amount of an exposure that remains outstanding until one party has the right to call for collateral.
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(in COLL and CIS) cash or other property paid, transferred or deposited under the terms of a derivative; for these purposes cash or property will be treated as having been paid, transferred or deposited if it must be paid, transferred or deposited in order to comply with a requirement imposed by the market on which the contract is made or traded.
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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.
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the part of the capital resources requirement of a BIPRU firm in respect of market risk, calculated in accordance with GENPRU 2.1.52R (Calculation of the market risk capital requirement).
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the behaviour described in section 118(4) of the Act , which is behaviour (not falling within sections 118 (2) or (3) of the Act):(a) based on information which is not generally available to those using the market but which, if available to a regular user of the market, would be, or would be likely to be, regarded by him as relevant when deciding the terms on which transactions in qualifying investments should be effected; and(b) likely to be regarded by a regular user of the market as a failure on the part of the person concerned to observe the standard of behaviour reasonably expected of a person in his position in relation to the market.
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(1) (except in CASS 4) a transaction executed by a firm with or for a client relating to a future, option or contract for differences (or any right to or any interest in such an investment) under the terms of which the client will or may be liable to provide cash or collateral to secure performance of obligations which he may have to perform when the transaction falls to be completed or upon the earlier closing out of his position.
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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.
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(in accordance with Part 1 of Annex III of the Banking Consolidation Directive (Definitions) and for the purpose of BIPRU 13 (The calculation of counterparty risk exposure values for financial derivatives, securities financing transactions and long settlement transactions)) transactions in which a person extends credit in connection with the purchase, sale, carrying or trading of securities; the definition does not include other loans that happen to be secured by securities collateral.
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(in relation to a firm) the risks that arise from fluctuations in values of, or income from, assets or in interest or exchange rates.
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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.
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the individual appointed by a firm in accordance with SYSC 3.2.6I R .
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(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 the formation of a civil partnership or on the birth of a child, being contracts expressed to be in effect for a period of more than one year.
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(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.
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(in accordance with Part 1 of Annex III of theBanking Consolidation Directive (Definitions) and for the purpose of BIPRU 13 (The calculation of counterparty risk exposure values for financial derivatives, securities financing transactions and long settlement transactions)) a contractual agreement or provisions to an agreement under which one counterparty must supply collateral to a second counterparty when an exposure of that second counterparty to the first counterparty exceeds a specified level.