61 / 64
Global Trustee and Fiduciary Services News and Views
| Issue 48 | 2017
59
IBC
Independent Banking Commission
ICAV
Irish Collective Asset-management Vehicle
ICSD
Investor Compensation Scheme Directive
IFA
Independent Financial Adviser
IFC
International Finance Corporation
IFI
International Finance Institutions
IFIA
Irish Funds Industry Association
IFRS
International Financial Reporting Standards
IMF
International Monetary Fund
IMS
Investment Management Strategy
IOSCO
International Organisation of
Securities Commissions
IRS
Internal Revenue Service
JFSC
Jersey Financial Services Commission
KIID
Key Investor Information Document
LHFI
Lag om Handel med Finansiella Instrument
— Swedish Financial Trading Act
LVM
Lag om Vardepappersmarknaden
— Swedish Financial Markets Act
MAD
Market Abuse Directive
MEP
Member of the European Parliament
MiFID
Markets in Financial Instruments Directive
MiFIR
Markets in Financial Instruments Regulation
NAV
Net Asset Value
Newcits
A phrase used to describe hedge fund strategies used within
the UCITS III framework
NBNI G-SIFIs
Non-Bank and Non-Insurer Globally Systemically
Important Financial Institutions
NFFE
Non-Financial Foreign Entity
NURS
Non-UCITS Retail Scheme
OECD
Organisation for Economic Co-operation and
Development
ORA
Ongoing Regulatory Activity
OTC
Over-the-counter (derivatives)
PBU
UK Prudential Business Unit
PCF
Pre-Approved Control Functions
PIF
Professional Collective Investment Scheme
PFFI
Participating Foreign Financial Entity
PRA
UK Prudential Regulation Authority
PRIIPs
Packaged Retail and Insurance-based Investment
Products
PRO
Prudential Risk Outlook
QCF
Qualifications and Credit Framework
QI
Qualifying Intermediary
QIF
Qualifying Investor Fund
QIS
Qualified Investor Scheme
RCRO
Retail Conduct Risk Outlook
RDR
Retail Distribution Review
RIS
Regulatory Information Service
SAR
Special Administration Regime
SEC
Securities and Exchange Commission
SEPA
Single European Payments Area
SICAV
Société d’Investissement à Capital Variable
SICAR
Sociétés d’Investissement en
Capital à Risque
SIF
Significant Influence Function
SIF
Specialised Investment Funds
SIFA
Swedish Investment Funds Association
SIFIs
Systemically Important Financial Institutions
SLD
Securities Law Directive
SME
Small and Medium Sized Enterprises
SOPARFI
Sociétés de Participation Financière
SUP
Supervision — FCA Regulatory Process
SYSC
Senior Management Systems and Controls — FCA High
Level Standard
TIEA
Tax Information Exchange Agreement
TSC
UK Treasury Select Committee
UCIs
Undertakings for Collective Investment
(Part II Funds)
UCIS
Unauthorised Collective Investment Scheme
UCITS
Undertakings for Collective Investment
in Transferable Securities
UKTI
UK Trade & Investment
USFI
US Financial Institution
VaR
Value at Risk