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  • [ P ]

    • Parent Undertaking

      An undertaking or individual ('P'), which has the following relationship to another undertaking ('S'):

      (i) P holds (alone or, under an agreement with other shareholders) a majority of the voting rights in S;
      (ii) P (alone or in conjunction with its other subsidiary undertakings), has the right to appoint or remove a majority of its board of directors;
      (iii) P has the right to exercise a dominant influence over S, either through provisions contained in S's memorandum or articles, or a control contract; or
      (iv) P is a parent undertaking of a parent undertaking of S.
      Amended: July 2007

    • Personal account transaction

      A transaction undertaken by an employee of an investment firm licensee in a financial instrument, for his own account.

    • Politically Exposed Person ('PEP')

      Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a foreign country, for example Heads of State or of government, senior politicians, senior government, judicial or military officials, senior executives of state owned corporations, important political party officials.

      Domestic PEPs are individuals who are or have been entrusted domestically with prominent public functions, for example Heads of State or of government, senior politicians, senior government, judicial or military officials, senior executives of state owned corporations, important political party officials.

      Persons who are or have been entrusted with a prominent function by an international organisation refers to members of senior management, i.e. directors, deputy directors and members of the board or equivalent functions.

      The definition of PEPs is not intended to cover middle ranking or more junior individuals in the foregoing categories.

      Amended: July 2016
      Amended: June 2025

    • Professional client

      (Deleted)

      Deleted: Oct 09

    • Property

      Property of any description (including assets, rights, interests, and/or money).

      Amended: July 2007

    • Public Offering

      An offer of securities to the general public. See Rule BC-2.3.7.

      Amended: January 2013
      Amended: July 2007