FPR 1.3.1
In this module the terms and abbreviations listed in the table below have the following meanings:
|
A |
Authority |
The |
|
Any arrangement that:
(a) is established or domiciled in the
(b) is a "collective investment fund" as defined under the legislation administered by the
|
|
The |
|
(a) In relation to a
(b) In relation to the
|
|
In relation to a |
|
In relation to a |
|
In relation to a |
|
The |
|
A |
|
A |
|
Any natural person, body corporate or body unincorporated, including a company, partnership, unincorporated association, government or state. |
Promoted Promotion Promoting |
The marketing and sale of units of a
(a) the
(b) an
(c) any other In this definition "sale" includes any arranging, dealing and advising activities in relation to the units.
|
|
A
(a) the initial subscription paid by a
(b) participation in the
|
|
A
(a)
(b) any
|
|
(a) "Deemed"
(b) "Service-based"
(c) "Assessed" "Deemed" Qualified InvestorA
(a) a supranational organisation whose members are either countries, central banks or national monetary authorities;
(b) a properly constituted government, government agency, central bank or other national monetary authority of any country or jurisdiction;
(c) a public authority or state investment body;
(d) an investment exchange or a clearing house that is authorised by an Authority or a financial services regulator outside the
(e) a
(f) the management company of a regulated pension fund;
(g) a
(i) a balance sheet total of US$20 million;
(ii) a net annual turnover of US$40 million; or
(iii) own funds or called up capital of at least US$2 million,
or, in each case, equivalent amounts in another currency;
(h) a
(i) a body corporate whose shares are listed or admitted to trading on any exchange of an IOSCO member country;
(j) any other institutional investor whose main activity is to invest in financial instruments, including an entity dedicated to the securitisation of assets or other financial transactions;
(k) a trustee of a trust which has, or had during the previous twelve months, assets of at least US$10,000,000, or an equivalent amount in another currency. An individual trustee on the board of such a trust is only a "deemed"
(l) a single family office with respect to its activities carried on exclusively for the purposes of, and only in so far as it is, carrying out its duties as a single family office; or
(m) a subsidiary or a parent of any of the "Service-based" Qualified InvestorA
(a) the financial service provided to that
(b) the service is provided for the purposes of corporate structuring and financing; and
(c) the "Assessed" Qualified InvestorA Individuals (1) An individual is an "assessed"
(a) the individual has net assets of at least US$1,000,000 (or an equivalent amount in another currency), the calculation of which must:
(i) exclude the value of that person's primary residence; and
(ii) include any assets held directly or indirectly by that
(b) either:
(2) Any legal structure or vehicle, such as an undertaking, trust or foundation, is an "assessed"
(i) the individual is, or has been, in the previous two years, an employee in a professional position in a Person authorised to carry on a financial service by an Authority or by a financial services regulator outside the
(ii) the individual appears, on reasonable grounds, to have sufficient experience and understanding of relevant financial markets, products or transactions and any associated risks.
(3) An individual who has a joint account (a "joint account holder") with an individual assessed as meeting the requirements in (1) (the "primary account holder") is an "assessed"
(a) the joint account holder is a family member of the primary account holder;
(b) the account is used for the purposes of managing investments for the primary account holder and the joint account holder; and
(c) the joint account holder has confirmed in writing that investment decisions relating to the joint account are generally made for, or on behalf of, him by the primary account holder.
(4) An individual classified as a (5) A legal structure or vehicle of a (6) A family member of a (7) A family member of a Undertakings (8) An undertaking is an "assessed"
(a) has own funds or called up capital of at least US$1,000,000 (or an equivalent amount in another currency); and
(b) appears, on reasonable grounds, to have sufficient experience and understanding of relevant financial markets, products or transactions and any associated risks.
(9) An undertaking is an "assessed" |
Register of |
(a) In relation to the
(b) In relation to another Authority, the register of
|
Retail Investor |
A |
Unit |
A unit in or a share representing the rights or interests of a |
|
In relation to a |
Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]