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

  • Treating Customers Fairly TCF
    Treating Customers Fairly
  • Treaty on the Functioning of the European Union (TFEU)
    The Treaty which consolidates all other previous EU treaties, 1958-2009, in establishing the constitutional basis for the EU.
  • UK Chinese Bankers Association (UKCBA)*
    Set up in November 2010, the UK Chinese Bankers Association is the leading trade association that represents leading Chinese and Southeast Asian banks from the People’s Republic of China, Taiwan, Hong Kong, Singapore and Thailand with UK operations.
  • Undertakings for Collective Investment in Transferable Securities (UCITS)
    The Undertakings for Collective Investment in Transferable Securities (UCITS) Directives (1985-2014) created a new form of retail investment fund; these funds are also known as UCITS. UCITS funds are subject to stringent rules as to their activities, investments, and governance, but in return can be marketed across EU Member States on a 'UCITS passport'.
  • United Kingdom Competition Network UKCN
    United Kingdom Competition Network
  • United Kingdom Regulators Network UKRN
    United Kingdom Regulators Network
  • Unregulated Collective Investment Schemes (UCIS)*
    UK term for investment schemes that are not authorised by the FCA/PRA and therefore cannot legally be promoted to the general public (except in certain exceptional cases). Individuals performing regulated activities at a UCIS will still be subject to FCA/PRA regulation, however.
  • Value at risk (VAR)
    A measurement of risk, especially of commodities, based on statistical trends
  • Wealth Management Association (WMA)*
    Trade body representing stockbrokers, wealth management firms, and the private client investment industry. Formerly the Association of Private Client Investment Managers and Stockbrokers (APCIMS).