AIFM — borrowed from another act; this instrument states no meaning of its own (4)

AIFs — borrowed from another act; this instrument states no meaning of its own (13)

alternative investment fund manager — borrowed from another act; this instrument states no meaning of its own (4)

alternative investment funds — borrowed from another act; this instrument states no meaning of its own (13)

ELTIF — a fund authorised in accordance with Article 6 of Regulation (EU) 2015/760 (23)

European long‐term investment fund — borrowed from another act; this instrument states no meaning of its own (23)

financial adviser — an insurance intermediary which provides insurance advice with regard to IBIPs; an insurance undertaking which provides insurance advice with regard to IBIPs; a credit institution which provides investment advice; an investment firm which provides investment advice; an AIFM which provides investment advice in accordance with point (b)(i) of Article 6(4) of Directive 2011/61/EU; or a UCITS management company which provides investment advice in accordance with point (b)(i) of Article 6(3) of Directive 2009/65/EC (11)

financial market participant — an insurance undertaking which makes available an insurance‐based investment product (IBIP); an investment firm which provides portfolio management; an institution for occupational retirement provision (IORP); a manufacturer of a pension product; an alternative investment fund manager (AIFM); a pan‐European personal pension product (PEPP) provider; a manager of a qualifying venture capital fund registered in accordance with Article 14 of Regulation (EU) No 345/2013; a manager of a qualifying social entrepreneurship fund registered in accordance with Article 15 of Regulation (EU) No 346/2013; a management company of an undertaking for collective investment in transferable securities (UCITS management company); or a credit institution which provides portfolio management (1)

financial product — a portfolio managed in accordance with point (6) of this Article; an alternative investment fund (AIF); an IBIP; a pension product; a pension scheme; a UCITS; or a PEPP (12)

IBIP — an insurance‐based investment product as defined in point (2) of Article 4 of Regulation (EU) No 1286/2014 of the European Parliament and of the Council (19); or an insurance product which is made available to a professional investor and which offers a maturity or surrender value that is wholly or partially exposed, directly or indirectly, to market fluctuations (3)

institution for occupational retirement provision — borrowed from another act; this instrument states no meaning of its own (7)

insurance advice — borrowed from another act; this instrument states no meaning of its own (21)

insurance intermediary — borrowed from another act; this instrument states no meaning of its own (20)

insurance undertaking — an insurance undertaking authorised in accordance with Article 18 of Directive 2009/138/EC (2)

investment advice — borrowed from another act; this instrument states no meaning of its own (16)

investment firm — borrowed from another act; this instrument states no meaning of its own (5)

IORP — an institution for occupational retirement provision authorised or registered in accordance with Article 9 of Directive (EU) 2016/2341 except an institution in respect of which a Member State has chosen to apply Article 5 of that Directive or an institution that operates pension schemes which together have less than 15 members in total (7)

pan‐European Personal Pension Product — borrowed from another act; this instrument states no meaning of its own (9)

pension product — a pension product as referred to in point (e) of Article 2(2) of Regulation (EU) No 1286/2014; or an individual pension product as referred to in point (g) of Article 2(2) of Regulation (EU) No 1286/2014 (8)

pension scheme — borrowed from another act; this instrument states no meaning of its own (14)

PEPP — borrowed from another act; this instrument states no meaning of its own (9)

portfolio management — portfolio management as defined in in point (8) of Article 4(1) of Directive 2014/65/EU (6)

professional investor — a client who meets the criteria laid down in Annex II to Directive 2014/65/EU (18)

retail investor — an investor who is not a professional investor (19)

sustainability factors — environmental, social and employee matters, respect for human rights, anti‐corruption and anti‐bribery matters Article 2

sustainability risk — an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment (22)

sustainable investment — an investment in an economic activity that contributes to an environmental objective, as measured, for example, by key resource efficiency indicators on the use of energy, renewable energy, raw materials, water and land, on the production of waste, and greenhouse gas emissions, or on its impact on biodiversity and the circular economy, or an investment in an economic activity that contributes to a social objective, in particular an investment that contributes to tackling inequality or that fosters social cohesion, social integration and labour relations, or an investment in human capital or economically or socially disadvantaged communities, provided that such investments do not significantly harm any of those objectives and that the investee companies follow good governance practices, in particular with respect to sound management structures, employee relations, remuneration of staff and tax compliance (17)

UCITS — an undertaking authorised in accordance with Article 5 of Directive 2009/65/EC (15)

UCITS management company — a management company as defined in point (b) of Article 2(1) of Directive 2009/65/EC; or an investment company authorised in accordance with Directive 2009/65/EC which has not designated a management company authorised under that Directive for its management (10)

undertaking for collective investment in transferable securities — borrowed from another act; this instrument states no meaning of its own (15)