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an authorised fund or, in the case of an umbrella, a sub-fund (if it were a separate fund) which satisfies the conditions in COLL 5.9.5 R (Investment conditions: money market funds) and is not a qualifying money market fund.
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an activity in respect of a transaction:(a) which involves any of the following investments and is not regulated by the rules of a recognised investment exchange:(i) a debenture which is issued on terms requiring repayment not later than five years from the date of issue;(ii) any government and public security which is issued on terms requiring repayment not later than one year or, if issued by a local authority in the United Kingdom, five years from the date of issue; or(b) which involves any of the following investments and is not made on a recognised investment exchange or expressed to be so made:(i) a certificate representing certain securities or rights to or interests in investments relating, in either case, to an investment within (a)(i) or (a)(ii);(ii) an option relating to:(A) an instrument in (a)(i) or (a)(ii); or(B) currency of the United Kingdom or of any other country or territory; or(C) gold or silver;(iii) a future for the sale of:(A) an instrument in (a)(i) or (a)(ii); or(B) currency of the United Kingdom or of any other country or territory; or(C) gold or silver;(iv) a contract for differences by reference to fluctuations in:(A) the value or price of any instrument within any of (a)(i) to (a)(iii) or (b)(i) to (b)(iii); or(B) currency of the United Kingdom or of any other country or territory; or(C) the rate of interest on loans in any such currency or any index of such rates; or(v) an option to acquire or dispose of an instrument within (b)(ii), (b)(iii) or (b)(iv); or(c) where one of the parties agrees to sell or transfer a debenture or government and public security and by the same or a collateral agreement that party agrees, or acquires an option, to buy back or re-acquire that investment or an equivalent amount of a similar investment within twelve months of the sale or transfer.For the purposes of (c) investments are regarded as similar if they entitle their holders to the same rights against the same persons as to capital and interest and the same remedies for the enforcement of those rights.
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those classes of financial instruments which are normally dealt in on the money market, such as treasury bills, certificates of deposit and commercial papers and excluding instruments of payment.[Note: article 4(1)(19) of MiFID]
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(1) any of the following investments:(a) a debenture which is issued on terms requiring repayment not later than five years from the date of issue;(b) any government and public security which is issued on terms requiring repayment not later than one year or, if issued by a local authority in the United Kingdom , five years from the date of issue;(d) a certificate representing certain securities or rights to or interests in investments relating, in either case, to an investment within (a) or (b);(e) an option relating to:(i) an instrument in (a) or (b); or(ii) currency of the United Kingdom or of any other country or territory; or(iii) gold or silver;(f) a future for the sale of:(i) an instrument in (a) or (b); or(ii) currency of the United Kingdom or of any other country or territory; or(iii) gold or silver;(g) a contract for differences by reference to fluctuations in:(i) the value or price of any instrument within any of (a) to (f); or(ii) currency of the United Kingdom or of any other country or territory; or(iii) the rate of interest on loans in any such currency or any index of such rates;(h) an option to acquire or dispose of an instrument within (e), (f) or (g).(2) those classes of financial instruments which are normally dealt in on the money market, such as treasury bills, certificates of deposit and commercial papers and excluding instruments of payment.[Note: article 4(1)(19) of MiFID]
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a person who manages and/or operates the business of a regulated market. The market operator may be the regulated market itself.[Note: article 4(1)(13) of MiFID]
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a group of persons who:(a) are allied together (either formally or informally) for the purposes of marketing packaged products of the marketing group; and(b) each of whom, if it holds itself out in the United Kingdom as marketing packaged products to private customers, does so only as an investment manager or in relation to packaged products of the marketing group.
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the regulated activity, specified in article 63N(1)(b) of the Regulated Activities Order, which is the acceptance of a transfer by a bank or building society of the balance of a dormant account, or a proportion of such a balance, and the management of those funds (including the investment of such funds) in such a way as to enable the dormant account fund operator to meet whatever repayment claims it is prudent to anticipate.
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a person who carries on money service business other than a firm , a BCD credit institution or a financial institution.
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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.
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any form of money, including cheques and other payable orders.
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the regime established under the provisions of Part VIII of the Act (Penalties for market abuse).
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carrying on by way of business the activity of:(a) operating a bureau de change; or(b) transmitting money, or any representation of monetary value, by any means; or(c) cashing cheques which are made payable to customers.
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(1) (in COLL and in accordance with article 3(9) of the UCITS implementing Directive) the risk of loss for a UCITS resulting from fluctuation in the market value of positions in the scheme's portfolio attributable to changes in market variables, such as interest rates, foreign exchange rates, equity and commodity prices or an issuer's credit worthiness.
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the market value as determined in accordance with generally accepted accounting practice.
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(in accordance with regulation 2(1) of the Payment Service Regulations) a service for the transmission of money (or any representation of monetary value), without any payment accounts being created in the name of the payer or the payee, where:(a) funds are received from a payer for the sole purpose of transferring a corresponding amount to a payee or to another payment service provider acting on behalf of the payee; or(b) funds are received on behalf of, and made available to, the payee.[Note: article 4(13) of the Payment Services Directive]
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the behaviour described in section 118(8) of the Act which satisfies the condition in section 118(8)(a) and is behaviour (not falling within sections 118(5), (6) or (7)) which:(a) is likely to give a regular user of the market a false or misleading impression as to the supply of, demand for or price or value of, qualifying investments, and(b) is 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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the behaviour described in section 118(5) of the Act, which is behaviour effecting transactions or orders to trade (otherwise than for legitimate reasons and in conformity with accepted market practices on the relevant market) which:(a) give, or are likely to give a false or misleading impression as to the supply of, or demand for, or as to the price, one or more qualifying investments; or(b) secure the price of one or more such investments at an abnormal or artificial level.
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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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(1) (except in COBS and FINMAR) (in relation to an investment) a person who (otherwise than in his capacity as the operator of a regulated collective investment scheme) holds himself out as able and willing to enter into transactions of sale and purchase in investments of that description at prices determined by him generally and continuously rather than in respect of each particular transaction.(2) (in COBS) a person who holds himself out on the financial markets on a continuous basis as being willing to deal on own account by buying and selling financial instruments against his proprietary capital at prices defined by him.[Note: article 4 (1)(8) of MiFID](3) (in FINMAR) a person who, ordinarily as part of his business, deals as principal in financial instruments (whether OTC or exchange traded):(a) to fulfil orders received from another person in response to that person's request to trade or to hedge positions arising out of those dealings; or(b) in a way that ordinarily has the effect of providing liquidity on a regular basis to the financial markets on both bid and offer sides of the market in comparable size.