(see r 1.1.4)
advertisement: see rule 4.2.1.
associate of a person (A) means any of the following:
Note Legal person, corporate group and person are defined in this glossary.
authorisation means an authorisation granted under FSR, Part 5.
authorised firm means a person that has an authorisation.
business day means a day that is not a Friday, Saturday, or a public or bank holiday in Qatar.
business customer: see rule 1.2.3.
calendar month means a period beginning at the start of any day of one of the 12 named months of the year and ending:
carrying out contracts of insurance: see rule 6.1.2.
complaint: see rule 3.8.1.
compliance officer for an authorised firm means the individual who exercises the compliance oversight function (within the meaning given by CTRL, rule 3.1.9) for the firm.
COND means the Conduct of Business Rules 2007, as in force at any time before 1 January 2020.
contract of insurance: see rule 6.1.2.
corporate group means the following:
Note Legal person, parent entity and subsidiary are also defined in this glossary.
CTRL means the Governance and Controlled Functions Rules 2012.
customer: see rule 1.2.1.
customer dispute resolution scheme means the scheme by that name established under the Customer Dispute Resolution Scheme Rules 2019.
day means a period of 24 hours starting at midnight.
deposit: see rule 7.1.2.
deposit-taking: see rule 7.1.2.
deposit-taking business: see rule 7.1.2.
durable medium means a medium that:
effecting contracts of insurance: see rule 6.1.2.
eligible counterparty: see rule 1.2.10.
employee of an authorised firm means an individual who is the firm's employee for the purposes of the Employment Regulations of the QFC.
entity means any kind of entity, and includes, for example, any person.
execute a transaction includes:
FSR means the Financial Services Regulations.
GENE means the General Rules 2005.
general insurance contract: see rule 6.1.2.
governing body: an authorised firm's governing body is:
group policy means an insurance contract that covers a defined group of persons (for example, the members of a society or professional body, or the employees of an employer).
initial disclosure document: see rule 4.4.1.
insurance business: see rule 6.1.2.
insurance mediation business: see rule 6.1.2.
investment advice: see rule 5.1.2.
investment business: see rule 5.1.2.
investment intermediary: see rule 5.1.2.
investment manager: see rule 5.1.2.
investment mediation business: see rule 5.1.2.
jurisdiction means any kind of legal jurisdiction, and includes, for example:
key information document: see rule 5.4.1.
legal person means an entity (other than an individual) on which the legal system of a jurisdiction confers rights and imposes duties, and includes, for example, any entity that can own, deal with or dispose of property.
life insurance contract: see rule 6.1.2.
long term care insurance contract: see rule 6.1.2.
long term insurance contract: see rule 6.1.2.
managing investments: see rule 5.1.2.
material interest: see rule 3.5.1.
non-investment insurance contract: see rule 6.1.2.
overseas regulator means a regulatory or governmental authority, body or agency in a jurisdiction outside the QFC (whether in the State of Qatar or elsewhere).
packaged investment product: see rule 5.1.2.
parent entity, for a legal person (A), means any of the following:
Note Legal person and corporate group are defined in this glossary.
pure protection contract: see rule 6.1.2.
QFC means Qatar Financial Centre.
QFC insurance intermediary means an authorised firm that is an insurance intermediary.
QFC insurer means an authorised firm that is an insurer.
regulated activity means an activity that is a regulated activity under FSR.
regulated exchange means an exchange:
regulated financial institution means a person that is not an authorised firm but is authorised, in a jurisdiction outside the QFC, by an overseas regulator to carry on a financial service.
Regulatory Authority means the Qatar Financial Centre Regulatory Authority.
remuneration means remuneration in any form, including benefits of any kind.
retail customer: see rule 1.2.2.
risk management officer for an authorised firm means the individual who exercises the risk management function (within the meaning given by CTRL, rule 3.1.8) for the firm.
soft commission agreement: see rule 3.5.10.
specified product: see rule 5.1.2.
subsidiary: a legal person (A) is a subsidiary of another legal person (B) if B is a parent entity of A.
Note Legal person and parent entity are defined in this glossary.
tied agent means a QFC insurance intermediary that represents only 1 insurer and is able to advise only on the policies offered by that insurer.
|Derived from QFCRA RM/2019-2 (as from 1st January 2020).|