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FINANCIAL SERVICES LEGISLATION
RULES
GLOSSARY
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Off-Balance Sheet Asset Risk Component

The capital component identified in paragraph 5 (Off-Balance Sheet Asset Risk Component) of PINS Schedule 5 (Calculation of Prescribed Capital Requirement (PCR)).

The capital component identified in paragraph 5 (Off-Balance Sheet Asset Risk Component) of TRR Schedule 5 (Calculation of Prescribed Capital Requirement (PCR)).

Off-Balance Sheet Liability Risk Component

The capital component identified in paragraph 6 (Off-Balance Sheet Liability Risk Component) of PINS Schedule 5 (Calculation of Prescribed Capital Requirement (PCR)).

The capital component identified in paragraph 6 (Off-Balance Sheet Liability Risk Component) of TRR Schedule 5 (Calculation of Prescribed Capital Requirement (PCR)).

Offer

(1) In relation to Securities, an Offer of Securities.

(2) In relation to Units, an Offer of Units (and "Offered" and "Offering" and similar terms shall be construed accordingly).

Offer of Securities

A communication to any Person in any form or by any means, presenting information on the terms of the offer and the Securities offered, so as to enable an investor to decide whether or not to buy or subscribe to those Securities but excluding:

  • (a) any communication in connection with the trading of Securities admitted to trading on an Authorised Investment Exchange; or
  • (b) any communication made for the purposes of complying with the on-going reporting requirements of the AFSA or an Authorised Market Institution; or
  • (c) any other communication prescribed in the Rules by the AFSA.

Offer of Units

A communication to any Person in any form or by any means, presenting information on the terms of the offer and the Unit offered, so as to enable an investor to decide whether or not to buy or subscribe to those Units but excluding:

  • (a) (in relation to Listed Funds only) any communication in connection with the trading of Units admitted to trading on an Authorised Investment Exchange; or
  • (b) (in relation to Listed Funds only) any communication made for the purposes of complying with the on-going reporting requirements of the AFSA or an Authorised Market Institution; or
  • (c) any other communication prescribed in the Rules by the AFSA.

Offering Materials

The offering materials or particulars of a Fund.

Official List

The Official List of Securities and Units in Listed Funds maintained by the AFSA or the relevant Authorised Investment Exchange pursuant to section 64 of the Framework Regulations.

Operating a Clearing House

The Market Activity defined in paragraph 2 of Schedule 4 of the AIFC General Rules.

Operating an Investment Crowdfunding Platform

The Market Activity defined in paragraph 5 of Schedule 4 of the AIFC General Rules.

Operating a Loan Crowdfunding Platform

The Market Activity as defined in paragraph 4 of Schedule 3 of the Framework Regulations.

Operating a Private E-currency Business

Operating a Private E-currency Trading Facility or Providing Custody for safeguarding and administering Private E-currencies belonging to another Person, or both.

Operating a Private E-currency Trading Facility

The Market Activity defined in paragraph 3 of Schedule 4 of the AIFC General Rules.

Operating a Representative Office

The Regulated Activity as defined in paragraph 16 of Schedule 1 of GEN.

Operating an Exchange

The Market Activity defined in paragraph 1 of Schedule 4 of the AIFC General Rules.

Operation of a Payment System

The Regulated Activity defined in paragraph 27 of Schedule 1 of AIFC General Rules.

Opening and Operating Bank Accounts

The Regulated Activity defined in paragraph 26 of Schedule 1 of AIFC General Rules.

Operating a Multilateral Trading Facility

The Regulated Activity defined in paragraph 28 of Schedule 1 of the AIFC General Rules.

Operating an Organised Trading Facility

The Regulated Activity defined in paragraph 29 of Schedule 1 of the AIFC General Rules.

Operating a Private Financing Platform

The Market Activity defined in paragraph 6 of Schedule 4 of AIFC General Rules.

Operational Risk

Operational Risk is defined as the risk of incurring losses due to inadequate or failed internal systems, processes, and people, or from external events.

Operational Risk Capital Requirement

the meaning given in PRU(INV) 3.3(6).

For Banking Business Firms, has the meaning given in BBR 7.6

Operational Risk Requirement

The capital component identified in paragraph 2.4 (Operational Risk Requirement) of PINS Schedule 5 (Calculation of Prescribed Capital Requirement (PCR)).

The capital component identified in paragraph 2.4 (Operational Risk Requirement) of TRR Schedule 5 (Calculation of Prescribed Capital Requirement (PCR)).

Option

An instrument that confers on the holder, upon exercise, rights of the kind referred to in any of the following:

  • (a) a right to acquire or dispose of:
  • (i) a Security (other than a Warrant) or contractually based investment;
  • (ii) currency of any country or territory;
  • (iii) a commodity of any kind;
  • (b) a right to receive a cash settlement, the value of which is determined by reference to:
  • (i) the value or price of an index, interest rate or exchange rate; or
  • (ii) any other rate or variable; or
  • (c) a right to acquire or dispose of another Option under (a) or (b).

Option Risk Capital Requirement

A component of Market Risk Capital Requirement and calculated in accordance with BBR 6.5 and chapter 6 of BPG.

Outstanding Claims Risk Component

The capital component identified in paragraph 8 (Outstanding Claims Risk Component) of PINS Schedule 5 (Calculation of Prescribed Capital Requirement (PCR)).

The capital component identified in paragraph 8 (Outstanding Claims Risk Component) of TRR Schedule 5 (Calculation of Prescribed Capital Requirement (PCR)).

Overseas Listed Fund

A Fund:

OTF Operator

A Centre Participant which is licensed by the AFSA to carry on the Regulated Activity of Operating an Organised Trading Facility.