Close links Sample Clauses
The 'Close links' clause defines the circumstances under which parties are considered to have a close relationship, typically for regulatory or conflict-of-interest purposes. This clause often specifies criteria such as shared ownership, common management, or familial ties that establish a close link between entities or individuals. By clearly outlining what constitutes a close link, the clause helps ensure transparency and compliance with legal or regulatory requirements, preventing potential conflicts of interest or undue influence.
Close links. Holborn is a group of several organisations each of which is a separate legal entity registered in the relevant jurisdictions in which they operate. The advice provided to you in the respective jurisdictions will be in accordance with the scope of Holborn’s regulatory authorizations in that jurisdiction where applicable. When providing advice on a cross border basis multiple entities may be involved in the advice process. Close Links as referred to in the Markets in Financial Instruments Directive 2014/65/EU (MiFID II) has the following meaning:
Close links. An operating license shall not be granted if the close links of a financial undertaking [cf. Point 1 of Art. 1 a]1) with individuals or legal entities impede supervision of the undertaking by the Financial Supervisory Authority. The same applies if Acts or Regulations which apply to such connected parties impede supervision.
Close links. Close links are considered to exist when:
a. direct ownership ties or direct control over up to 20% of the shares or voting rights of an undertaking exist, or
b. there is control or collaboration between parties in the understanding of this Act.
Close links the Fund Manager's relationships with any legal or natural person as described in Chapter 1. § 2, of the Swedish UCITS Act (2004:46). Relevant Person: (a) a member of the board, shareholder, managing director or other manager at the Fund Manager; (b) one of the Fund Managers employees as well as any other natural person who not only performs services for the Fund Manager but is also under the Fund Manager's control and participates in the operation of the fund operations on behalf of the Fund Manager, and (c) a natural person who, in the context of a contract of assignment, carries out part of the fund operations on behalf of the Fund Manager. Partner: natural or legal person that the Fund Manager engages or cooperates with, for example for fund administration, financial advice to customers, marketing, information and sales of fund units or other financial products or services to pension savers within the premium pension sector.