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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 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 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.
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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 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.
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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 COB ) (in relation to a transaction) any interest of a material nature, other than:(a) disclosable commission on the transaction;(b) goods or services which can reasonably be expected to assist in carrying on designated investment business with or for clients and which are provided or to be provided under a soft commission agreement or
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the Money Laundering Regulations 2003 (SI 2003/3075) (see ML).
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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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the information centre appointed to meet the United Kingdom's obligations under article 5 of the Fourth Motor Insurance Directive (Information Centres).
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the regulated activity, specified in article 25A(2) of the Regulated Activities Order, which is in summary: making arrangements with a view to a person who participates in the arrangements entering into a regulated mortgage contract as borrower.(see also arranging (in relation to regulated mortgage contracts) and arranging (bringing about) regulated mortgage contracts.)
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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).
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a firm with permission (or which ought to have permission ) for administering a regulated mortgage contract.
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an underwriting agent who carries on the regulated activity of advising on syndicate participation at Lloyd's.
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Mortgage Code Arbitration Scheme.
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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.
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(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.