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(in accordance with Article 2(15) of the Financial Groups Directive (Definitions)) a parent undertaking, other than a regulated entity, which together with its subsidiary undertakings, at least one of which is an EEA regulated entity, and other entities, constitutes a financial conglomerate.
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(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.
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one of the following:(a) (in accordance with Article 1(22)of the Banking Consolidation Directive (Definitions)) a parent undertaking, other than a financial holding company, a credit institution or a mixed financial holding company, the subsidiary undertakings of which include at least one credit institution; or(b) (in accordance with Article 7(3) of the Capital Adequacy Directive (Supervision on a consolidated basis) and in relation to a banking and investment group without any credit institutions in it) a parent undertaking, other than a financial holding company, an investment firm or a mixed financial holding company, the subsidiary undertakings of which include at least one investment firm.
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(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.
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(in relation to a financial sector in a consolidation group or a financial conglomerate and in accordance with PRU 8.4 (Cross sector groups)) the financial sector with the largest average referred to in the box titled Threshold Test 2 in the financial conglomerate definition decision tree (10% ratio of balance sheet size and solvency requirements); and so that:(a) the investment services sector and the banking sector are treated as one for the purposes set out in PRU 8.4.7 R (Definition of financial conglomerate: The financial sectors: General); and(b) the definition is altered as set out in paragraph 4.4 and the decision tree in paragraph 4.5 of PRU 8 Ann 1R G (Types of financial conglomerate and definition of most important financial sector) for the purposes set out in paragraph 4.4 of PRU 8 Ann 1R G.
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(in ELM) the holdings and positions set out in ELM 2.4.17 R (Material holdings).
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a remittance that is part client money and part other money.