Jargon buster

This is a straightforward, non-technical guide to the often-confusing jargon used in financial services regulation. It aims to give a set of basic definitions, in plain language, for a wide range of acronyms, products, and terms as used in RegZone reports. It is designed to be suitable for non-lawyers, and comprehensible without too much prior knowledge or cross-referencing.

*entries marked with an asterisk refer to the UK only

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Term

Explanation

  • Association for Payment Clearing Services (APACS)*
    Defunct. Now UK Payments Administration (UKPA)
  • Association of British Insurers (ABI)*
    Trade association for promoting and representing the UK insurance industry.
  • Association of Consulting Actuaries (ACA)*
    Trade body representing consulting actuaries.
  • Association of Corporate Treasurers (ACT)*
    UK professional body for corporate treasurers, promoting corporate finance and treasury management.
  • Association of Financial Mutuals (AFM)*
    Trade body representing mutual insurers, friendly societies and other financial mutuals.
  • Association of Foreign Banks (AFB)*
    Trade body representing foreign banks providing financial services in the UK.
  • Association of Investment Companies (AIC)*
    Trade body for closed-ended investment companies.
  • Association of Mutual Insurers and Insurance Cooperatives in Europe AMICE
    Association of Mutual Insurers and Insurance Cooperatives in Europe
  • Association of Professional Financial Advisers (APFA)*
    Trade body representing financial advisers. Formerly the Association of Independent Financial Advisers (AIFA).
  • Association of Risk and Insurance Managers (AIRMIC)*
    UK trade association for risk and insurance management professionals.