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

  • Supervisory Review Process (SRP)
    Required of investment firms under the Capital Requirements Directive to determine if they hold adequate regulatory capital. Consists of the Supervisory Review & Evaluation Process (SREP), Internal Capital Adequacy Assessment Process (ICAAP), Internal Governance (IG) assessment, Risk Assessment System and Dialog & Measures elements.
  • Surveillance of the Financial Sector Commission (Commission de Surveillance du Secteur Financier) (CSSF) [Luxembourg]
    Responsible for financial regulation in Luxembourg. The competent authority for the authorisation and supervision of payment institutions (article 20); and MiFID.
  • Swedish Central Bank (Sveriges Riksbank)
    Responsible for monetary policy with objectives of maintaining price stability and promoting a safe and efficient payment system.
  • Swiss Financial Market Supervisory Authority (FINMA)
    Protects creditors, investors and policy holders and ensures the functioning of the financial markets in Switzerland.
  • Swiss National Bank (SNB)
    Conducts monetary policy in Switzerland and ensures price stability.
  • Systematic Risk Management Plan SRMP
    Systematic Risk Management Plan
  • Tax Elected Fund (TEF)*
    An Alternative Investment Fund that has elected for a specific tax regime under which taxation is levied on the investors rather than the fund (as if they had invested in the underlying assets directly) so permitting the use of certain tax allowances
  • Tax Incentivised Savings Association (TISA)*
    Trade association for providers of tax-incentivised retail investment products (e.g. ISAs)
  • TechSprint
    TechSprints are typically 2 day events that bring together participants from across and outside of financial services to develop technology based ideas or proof of concepts to address specific industry challenges. These events help us to shine a light on issues and expand the discussion and awareness of potential solutions.
  • The Committee on Civil Liberties, Justice and Home Affairs (LIBE)
    LIBE is a committee of the European Parliament