CP12/32: Implementation of the Alternative ... - BVCA admin

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esources only at excessive cost. Page 43 of 91 Appendix 1 market risk (1) (in COLL FUND and in accordance with article 3(9) of the UCITS implementing Directive) the risk of loss of a UCITS or AIF resulting from fluctuation in the market value of positions in the scheme’s fund’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. (2) (except in COLL FUND) (in relation to a firm) the risks that arise from fluctuations in values of, or income from, assets or in interest or exchange rates. MiFID investment firm (in summary) a firm to which MiFID applies including, for some purposes only, a credit institution and UCITS investment firm collective portfolio management investment firm. (in full) a firm which is: … (3) a UCITS investment firm collective portfolio management investment firm (only when providing the services referred to in article 6(4) AIFMD or Article 6(3) of the UCITS Directive in relation to the rules implementing the articles of MiFID referred to in article 6(6) of AIFMD or Article 6(4) of that Directive the UCITS Directive (as appropriate)); unless, and to the extent that, MiFID does not apply to it as a result of Article 2 (Exemptions) or Article 3 (Optional exemptions) of MiFID. operational risk (1) (in COLL FUND and in accordance with article 3(10) of the UCITS implementing Directive) the risk of loss for a UCITS or AIF resulting from inadequate internal processes and failures in relation to the people and systems of the management company or AIFM or from external events, and it includes legal and documentation risk and risk resulting from the trading, settlement and valuation procedures operated on behalf of the scheme fund. own funds … (2) (except in COLL FUND) (in accordance with Article 4(22) of the Banking Consolidation Directive) the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events, including legal risk.
Page 44 of 91 Appendix 1 (2A) (in IPRU(INV) 7) the own funds of a firm calculated in accordance with IPRU(INV) Table 7.4 (Method of calculating initial capital and own funds). … prime brokerage firm (1) (except in FUND) a firm that provides prime brokerage services to a client and which may do so acting as principal. (2) (in FUND) a credit institution, investment firm or another firm, offering services to professional clients primarily to finance or execute transactions in financial instruments as counterparty and which may also provide other services, such as clearing and settlement of trades, custodial services, stock lending, customised technology and operational support facilities. [Note: article 4(1)(af) of AIFMD] prospectus (1) (in LR, PR, and FEES and FUND 3 (Requirements for managers of alternative investment funds)) a prospectus required under the prospectus directive. … qualifying capital instrument (in UPRU IPRU(INV)) means that part of a firm's capital which is a security of indeterminate duration, or other instrument, that fulfils the following conditions: … qualifying capital item (in UPRU IPRU(INV)) means that part of a firm's capital which has the following characteristics: … qualifying subordinated loan (in UPRU IPRU(INV) 7) has the meaning given in IPRU(INV) 5.2.5(1) to (7) 7.5 (Qualifying subordinated loans). readily realisable investment (1) (except in UPRU IPRU(INV)) (a) a packaged product; (b) a readily realisable security. (2) (in UPRU IPRU(INV)) means a unit in a regulated collective investment scheme, a life policy or any marketable investment other than one which is traded on or under the rules of a recognised or designated
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Consultation Paper CP12/32 Financia
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The Financial Services Authority in
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CP12/32 Implementation of the Alter
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Annex 2 List of consultation questi
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Annex 2 November 2012 CP12/32 Imple
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Page 115: Annex 4 November 2012 CP12/32 Imple
Page 118 and 119: CP12/32 Implementation of the Alter
Page 124 and 125: ALTERNATIVE INVESTMENT FUND MANAGER
Page 126 and 127: Annex A Making the Investment Funds
Page 128 and 129: Page 5 of 91 Appendix 1 (2) a descr
Page 130 and 131: 3.2.5 R An AIFM must, for each AIF
Page 132 and 133: Page 9 of 91 Appendix 1 (6) the agg
Page 134 and 135: Page 11 of 91 Appendix 1 (4) the id
Page 136 and 137: [Note: article 15(1) of AIFMD] this
Page 138 and 139: (1) a full scope UK AIFM of: (a) a
Page 140 and 141: Page 17 of 91 Appendix 1 (b) the re
Page 142 and 143: experienced; Page 19 of 91 Appendix
Page 144 and 145: Page 21 of 91 Appendix 1 by the fac
Page 146 and 147: Page 23 of 91 Appendix 1 3.11.5 G T
Page 148 and 149: (Own funds requirement). [Note: art
Page 150 and 151: supplements the meaning of financia
Page 152 and 153: instruments remain in its custody;
Page 154 and 155: supplementing this section] 4. Comm
Page 156 and 157: Annex B Amendments to the Glossary
Page 158 and 159: collective portfolio management fir
Page 160 and 161: Page 37 of 91 Appendix 1 non-listed
Page 162 and 163: BIPRU 730k firm Page 39 of 91 Appen
Page 164 and 165: … Page 41 of 91 Appendix 1 (e) (i
Page 168 and 169: Single Market Directive … Page 45
Page 170 and 171: Page 47 of 91 Appendix 1 [Note: art
Page 172 and 173: Page 49 of 91 Appendix 1 7.1.7B In
Page 174 and 175: Page 51 of 91 Appendix 1 [Note: art
Page 176 and 177: [Note: paragraph 1(c) of Annex II o
Page 178 and 179: [Note: paragraph 1(k) of Annex II o
Page 180 and 181: [Note: paragraph 1(r) of Annex II o
Page 182 and 183: Page 59 of 91 (2) the fixed overhea
Page 184 and 185: Page 61 of 91 Appendix 1 amount of
Page 186 and 187: Types of investment firm: BIPRU 50K
Page 188 and 189: The following text is new and is no
Page 190 and 191: Page 67 of 91 Appendix 1 (1) at the
Page 192 and 193: Page 69 of 91 Appendix 1 so that th
Page 194 and 195: TABLE 7.4 PART I A firm must calcul
Page 196 and 197: Note consistently in respect of any
Page 198 and 199: initial capital (see item 5) if the
Page 200 and 201: Form of qualifying subordinated loa
Page 202 and 203: Annex H Amendments to the Supervisi
Page 204 and 205: Descriptio n of data item Annual re
Page 206 and 207: … Data item SUP 16.12.12R, unless
Page 208 and 209: indicated otherwise. Data item Firm
Page 210 and 211: client assets … Page 87 of 91 App
Page 212 and 213: … Data item SUP 16.12.23R, unless
Page 214 and 215: FSA066 and FSA06 are added - see fo
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Liquid assets test 32 Liquid assets
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Professional negligence capital req
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is not listed, select ‘Other’.
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FSA067 Capital adequacy - supplemen
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PII capital requirement 5A This is
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External validations Validation Dat
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