[M]
Managing a Collective Investment Scheme
The Regulated Activity as defined in paragraph 4 of Schedule 1 of GEN.
Managing a Restricted Profit Sharing Investment Account
The Regulated Activity as defined in paragraph 12 of Schedule 1 of GEN.
Managing Investments
The Regulated Activity as defined in paragraph 3 of Schedule 1 of GEN
Mandate
An arrangement under which a Client gives an Authorised Firm the ability to control the Client's assets or liabilities, including having over an account held with a third party in the Client's own name.
MAR
The AIFC Market Rules.
Market Abuse
As defined in MAR 5.1 and, in relation to Listed Funds, as applied pursuant to MAR 7:
- (a) unlawful disclosure of Inside Information; and
- (b) engaging or attempting to engage in Insider Dealing; and
- (c) recommending that another Person engage in Insider Dealing; and
- (d) inducing another Person to engage in Insider Dealing; and
- (e) engaging or attempting to engage in Market Manipulation; but not:
- (a) disclosure of Inside Information made in the course of a Market Sounding; and
- (b) the behaviour described in MAR 5.3.4 to 5.3.6 (and in relation to Listed Funds, as applied pursuant to MAR 7); and
- (c) accepted market practices established under MAR 5.4.4 (and in relation to Listed Funds, as applied pursuant to MAR 7).
Market Activity
An activity referred to in specified of Schedule 4 of AIFC General Rules, subject to any rules made by the AFSA adding to, removing, or otherwise modifying the specified activity.
Market Contract
(a) A contract entered into by an Authorised Investment Exchange or Authorised Clearing House with Members to settle their transactions; and
(b) a contract entered into by a Member of an Authorised Investment Exchange with a Person other than that Authorised Investment Exchange made on, or subject to the rules of, the Authorised Investment Exchange; and
(c) a contract entered into by a Recognised Non-AIFC Member of an Authorised Investment Exchange with a person other than that Authorised Investment Exchange made on, or subject to the rules of, the Authorised Investment Exchange; and
(d) a contract entered into by an Authorised Investment Exchange, in its capacity as such, with a Member, an Authorised Clearing House, or another Authorised Investment Exchange for the purpose of enabling the rights and liabilities of that Member, Authorised Clearing House, or Authorised Investment Exchange under a transaction to be settled; and
(e) a contract entered into by an Authorised Investment Exchange with a Member, an Authorised Clearing House, or another Authorised Investment Exchange for the purpose of providing Central Counterparty clearing services to that Member, Authorised Clearing House, or Authorised Investment Exchange.
Market Counterparty Business
The following activities carried on by an Authorised Firm with or for a Market Counterparty:
- (a) Dealing in Investments as Principal;
- (b) Dealing in Investments as Agent; or
- (c) receiving and transmitting Client orders
Market Making Agreement
(In AMI) a written agreement between an Authorised Investment Exchange and a Member pursuing a Market Making Strategy by using its facilities.
Market Making Strategy
In relation to an Investment, a strategy by which a Person holds himself out as able and willing to enter into transactions of sale and purchase in Investments of that description at prices determined by him generally and continuously rather than in respect of each particular transaction.
Market Manipulation
The activities set in MAR 5.4.2 and the conduct set out in MAR 5.4.3 and, in relation to Listed Funds, as applied pursuant to MAR 7.
Market Risk
The risk of loss that arises from fluctuations in the values of, or income from, assets or in interest or exchange rates.
Market Risk Capital Requirement
the meaning given in PRU(INV) 3.3(5).
For Banking Business Firms, has the meaning given in BBR 6.5
Market Sounding
The conduct set out in MAR 5.5.1 and, in relation to Listed Funds, as applied pursuant to MAR 7.
Marketing Material
(in REP) Includes any material communicated to a Person in the course of marketing financial services or financial products or making introductions or referrals.
Matched Principal
An Authorised Firm which deals in Investments subject to the following conditions:
(i) it enters into transactions as a principal only for the purpose of fulfilling its Clients’ orders;
(ii) it holds positions for its own account (“positions”) only as a result of a failure to match Clients’ orders;
(iii) the total market value of the positions it holds is no more than 15% of its Tier 1 Capital; and the positions are incidental in nature and are strictly limited to the time reasonably required to carry out a transaction of that nature.
MCR
Minimum Capital Requirement
Member
A Person who is entitled, under an arrangement or agreement between him and an Authorised Market Institution, a MTF Operator or an OTF Operator, to use that institution’s or operator's facilities
Membership Rules
(In AMI) the membership rules of an Authorised Market Institution prepared in accordance with AMI 2.6.3.
(In MOTF) the membership rules of a MTF Operator or OTF Operator prepared in accordance with MOTF 3.2.
Minimum Capital Requirement
In PRU(INV), the meaning given in PRU(INV) 3.3(2).
In PRU(INT), the meaning given in PRU(INT) 3.2.
MLRO
Money-Laundering Reporting Officer, as described in AML 13.1
Money
Any form of money, including cheques and other payable orders.
Money Laundering Reporting Officer
The individual performing the Designated Function identified at GEN 2.3.4.
MTF Operator
A Centre Participant which is licensed by the AFSA to carry on the Regulated Activity of Operating a Multilateral Trading Facility.