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the regulated activity, specified in article 25(2) of the Regulated Activities Order (Arranging deals in investments), which is in summary: making arrangements with a view to a person who participates in the arrangements buying, selling, subscribing for or underwriting any of the following investments (whether as principal or agent):(a) a designated investment; or(b) a funeral plan contract; or(c) the underwriting capacity of a Lloyd's syndicate; or(e) rights to or interests in investments in (b), (c) or (d); or(f) a pure protection contract; or(g) a general insurance contract.
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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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general insurance business of class 10, other than:(a) carrier's liability;(b) pure reinsurance of that class.
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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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(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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(b) any person carrying on the regulated activity of managing the underwriting capacity of a Lloyd's syndicate in respect of members whose insurance business at Lloyd's includes motor vehicle liability insurance business.
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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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a firm with permission (or which ought to have permission ) for administering a regulated mortgage contract.
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the amount determined in accordance with LLD 11.3.1 R (General insurance business) or LLD 11.3.4 R (Long-term insurance business).
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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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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.
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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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(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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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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(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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an ISA which contains only one of the following qualifying investments:(a) a stocks and shares component;(b) a cash component;(c) an insurance component;as prescribed in paragraph 7, 8 or 9 respectively of the ISA Regulations.
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The Financial Services and Markets Act 2000 (Transitional Provisions) (Complaints Relating to General Insurance and Mortgages) Order 2004 (SI 2004/454).
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an agreement in the form prescribed by the Society, between a managing agent and a member, under which the managing agent manages the insurance business of that member.
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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.