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ICT asset

DORA
a software or hardware asset in the network and information systems used by the financial entity

ICT concentration risk

DORA
an exposure to individual or multiple related critical ICT third-party service providers creating a degree of dependency on such providers so that the unavailability, failure or other type of shortfall of such provider may potentially endanger the ability of a financial entity to deliver critical or important functions, or cause it to suffer other types of adverse effects, including large losses, or endanger the financial stability of the Union as a whole

ICT intra-group service provider

DORA
an undertaking that is part of a financial group and that provides predominantly ICT services to financial entities within the same group or to financial entities belonging to the same institutional protection scheme, including to their parent undertakings, subsidiaries, branches or other entities that are under common ownership or control

ICT process 2 definitions

Cybersecurity Act
a set of activities performed to design, develop, deliver or maintain an ICT product or ICT service
NIS2 Directive
an ICT process as defined in Article 2, point (14), of Regulation (EU) 2019/881

ICT product 2 definitions

Cybersecurity Act
an element or a group of elements of a network or information system
NIS2 Directive
an ICT product as defined in Article 2, point (12), of Regulation (EU) 2019/881

ICT risk

DORA
any reasonably identifiable circumstance in relation to the use of network and information systems which, if materialised, may compromise the security of the network and information systems, of any technology dependent tool or process, of operations and processes, or of the provision of services by producing adverse effects in the digital or physical environment

ICT service 2 definitions

Cybersecurity Act
a service consisting fully or mainly in the transmission, storing, retrieving or processing of information by means of network and information systems
NIS2 Directive
an ICT service as defined in Article 2, point (13), of Regulation (EU) 2019/881

ICT services

DORA
digital and data services provided through ICT systems to one or more internal or external users on an ongoing basis, including hardware as a service and hardware services which includes the provision of technical support via software or firmware updates by the hardware provider, excluding traditional analogue telephone services

ICT subcontractor established in a third country

DORA
an ICT subcontractor that is a legal person established in a third-country and that has entered into a contractual arrangement either with an ICT third-party service provider, or with an ICT third-party service provider established in a third country

ICT technical specification

European Standardisation Regulation
a technical specification in the field of information and communication technologies

ICT third-party risk

DORA
an ICT risk that may arise for a financial entity in relation to its use of ICT services provided by ICT third-party service providers or by subcontractors of the latter, including through outsourcing arrangements

ICT third-party service provider

DORA
an undertaking providing ICT services

ICT third-party service provider established in a third country

DORA
an ICT third-party service provider that is a legal person established in a third-country and that has entered into a contractual arrangement with a financial entity for the provision of ICT services

ICT-related incident

DORA
a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity

identification service

Digital Markets Act
a type of service provided together with or in support of core platform services that enables any type of verification of the identity of end users or business users, regardless of the technology used

illegal content

Digital Services Act
any information that, in itself or in relation to an activity, including the sale of products or the provision of services, is not in compliance with Union law or the law of any Member State which is in compliance with Union law, irrespective of the precise subject matter or nature of that law

imbalance price

Electricity Regulation (recast)
the price, be it positive, zero or negative, in each imbalance settlement period for an imbalance in each direction

imbalance price area

Electricity Regulation (recast)
the area in which an imbalance price is calculated

imbalance settlement period 2 definitions

Electricity Market Directive (recast)
imbalance settlement period as defined in point (15) of Article 2 of Regulation (EU) 2019/943
Electricity Regulation (recast)
the time unit for which the imbalance of the balance responsible parties is calculated

immobilisation

CSDR
the act of concentrating the location of physical securities in a CSD in a way that enables subsequent transfers to be made by book entry

implantable device

Medical Devices Regulation
any device, including those that are partially or wholly absorbed, which is intended: — to be totally introduced into the human body, or — to replace an epithelial surface or the surface of the eye, by clinical intervention and which is intended to remain in place after the procedure. Any device intended to be partially introduced into the human body by clinical intervention and intended to remain in place after the procedure for at least 30 days shall also be deemed to be an implantable device

implemented policies and measures

Energy Union Governance Regulation
policies and measures for which one or more of the following applies at the date of submission of the integrated national energy and climate plan or of the integrated national energy and climate progress report: directly applicable Union or national law is in force, one or more voluntary agreements have been established, financial resources have been allocated, human resources have been mobilised

implementing public authority 2 definitions

Energy Efficiency Directive
a body governed by public law which is responsible for the carrying out or monitoring of energy or carbon taxation, financial schemes and instruments, fiscal incentives, standards and norms, energy labelling schemes, training or education
Energy Union Governance Regulation
implementing public authority as defined in point (17) of Article 2 of Directive 2012/27/EU

import

F-gas Regulation
the entry of substances, products and equipment into the customs territory of the Union, in so far as the territory is covered by a ratification of the 1987 Montreal Protocol on Substances that Deplete the Ozone Layer (the ‘Protocol’), and includes temporary storage and the customs procedures referred to in Articles 201 and 210 of Regulation (EU) No 952/2013

importation

CBAM Regulation
release for free circulation as provided for in Article 201 of Regulation (EU) No 952/2013

importer 12 definitions

AI Act
a natural or legal person located or established in the Union that places on the market an AI system that bears the name or trademark of a natural or legal person established in a third country
Batteries Regulation
any natural or legal person established within the Union who places on the market a battery from a third country
CBAM Regulation
either the person lodging a customs declaration for release for free circulation of goods in its own name and on its own behalf or, where the customs declaration is lodged by an indirect customs representative in accordance with Article 18 of Regulation (EU) No 952/2013, the person on whose behalf such a declaration is lodged
Cosmetics Regulation
any natural or legal person established within the Community, who places a cosmetic product from a third country on the Community market
Cyber Resilience Act
a natural or legal person established in the Union who places on the market a product with digital elements that bears the name or trademark of a natural or legal person established outside the Union
Ecodesign for Sustainable Products Regulation
any natural or legal person established in the Union that places a product from a third country on the Union market
European Accessibility Act
any natural or legal person established within the Union who places a product from a third country on the Union market
General Product Safety Regulation
any natural or legal person established within the Union who places a product from a third country on the Union market
In Vitro Diagnostic Medical Devices Regulation
any natural or legal person established within the Union that places a device from a third country on the Union market
Machinery Regulation
any natural or legal person established within the Union who places a product within the scope of this Regulation from a third country on the Union market
Medical Devices Regulation
any natural or legal person established within the Union that places a device from a third country on the Union market
Methane Regulation
a natural or legal person who, in the course of a commercial activity, places crude oil, natural gas or coal originating from a third country on the Union market, including any natural or legal person established in the Union appointed to carry out acts and formalities required under Chapter 5

in the course of a commercial activity

Deforestation Regulation
for the purpose of processing, for distribution to commercial or non-commercial consumers, or for use in the business of the operator or trader itself

in vitro diagnostic medical device 2 definitions

Health Technology Assessment Regulation
an in vitro diagnostic medical device as defined in Article 2, point (2), of Regulation (EU) 2017/746
In Vitro Diagnostic Medical Devices Regulation
any medical device which is a reagent, reagent product, calibrator, control material, kit, instrument, apparatus, piece of equipment, software or system, whether used alone or in combination, intended by the manufacturer to be used in vitro for the examination of specimens, including blood and tissue donations, derived from the human body, solely or principally for the purpose of providing information on one or more of the following:

in-conversion product

Organic Farming Regulation
a product that is produced during the conversion period referred to in Article 10

in-conversion production unit

Organic Farming Regulation
a production unit, during the conversion period referred to in Article 10, which is managed in compliance with the requirements applicable to organic production; it may be constituted of land parcels or other assets for which the conversion period referred to in Article 10 starts at different moments in time

inactive well

Methane Regulation
an exploration or production oil or gas well or well site, onshore or offshore, in which, for at least 1 year, no operations for exploration or production have taken place, with the exception of temporarily plugged wells and permanently plugged and abandoned wells

Incapacitated subject

Clinical Trials Regulation
a subject who is, for reasons other than the age of legal competence to give informed consent, incapable of giving informed consent according to the law of the Member State concerned

incident 7 definitions

Critical Entities Resilience Directive
an event which has the potential to significantly disrupt, or that disrupts, the provision of an essential service, including when it affects the national systems that safeguard the rule of law
Cyber Resilience Act
an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555
Cybersecurity Act
an incident as defined in point (7) of Article 4 of Directive (EU) 2016/1148
In Vitro Diagnostic Medical Devices Regulation
any malfunction or deterioration in the characteristics or performance of a device made available on the market, including use-error due to ergonomic features, as well as any inadequacy in the information supplied by the manufacturer and any harm as a consequence of a medical decision, action taken or not taken on the basis of information or result(s) provided by the device
Medical Devices Regulation
any malfunction or deterioration in the characteristics or performance of a device made available on the market, including use-error due to ergonomic features, as well as any inadequacy in the information supplied by the manufacturer and any undesirable side-effect
NIS Directive
any event having an actual adverse effect on the security of network and information systems
NIS2 Directive
an event compromising the availability, authenticity, integrity or confidentiality of stored, transmitted or processed data or of the services offered by, or accessible via, network and information systems

incident handling 3 definitions

Cybersecurity Act
incident handling as defined in point (8) of Article 4 of Directive (EU) 2016/1148
NIS Directive
all procedures supporting the detection, analysis and containment of an incident and the response thereto
NIS2 Directive
any actions and procedures aiming to prevent, detect, analyse, and contain or to respond to and recover from an incident

incident having an impact on the security of the product with digital elements

Cyber Resilience Act
an incident that negatively affects or is capable of negatively affecting the ability of a product with digital elements to protect the availability, authenticity, integrity or confidentiality of data or functions

independent aggregator

Electricity Market Directive (recast)
a market participant engaged in aggregation who is not affiliated to the customer's supplier

independent operator 2 definitions

Batteries Regulation
a natural or legal person who is independent from the manufacturer and the producer and is directly or indirectly involved in the repair, maintenance or repurposing of batteries, and includes waste management operators, repairers, manufacturers or distributors of repair equipment, tools or spare parts, as well as publishers of technical information, operators offering inspection and testing services, operators offering training for installers, manufacturers and repairers of equipment for alternative-fuel vehicles
Ecodesign for Sustainable Products Regulation
a natural or legal person that is independent of the manufacturer and is directly or indirectly involved in the refurbishment, repair, maintenance or repurposing of a product, and includes waste management operators, refurbishers, repairers, manufacturers or distributors of repair equipment, tools or spare parts, as well as publishers of technical information, operators offering inspection and testing services and operators offering training for installers, manufacturers and repairers of equipment

independent price verification

CRR
a process by which market prices or marking to model inputs are regularly verified for accuracy and independence

independent third-party verification

CSDDD
verification of the compliance by a company, or parts of its chain of activities, with human rights and environmental requirements resulting from this Directive by an expert that is objective, completely independent from the company, free from any conflicts of interest and from external influence, has experience and competence in environmental or human rights matters, according to the nature of the adverse impact, and is accountable for the quality and reliability of the verification

index

Benchmarks Regulation
any figure:

index provider

Benchmarks Regulation
a natural or legal person that has control over the provision of an index

indicator 2 definitions

Energy Union Governance Regulation
a quantitative or qualitative factor or variable that contributes to better understanding progress in implementing
Monitoring Mechanism Regulation
a quantitative or qualitative factor or variable that contributes to better understanding progress in implementing policies and measures and greenhouse gas emission trends

indirect connection

Cyber Resilience Act
a connection to a device or network, which does not take place directly but rather as part of a larger system that is directly connectable to such device or network

indirect discrimination

Pay Transparency Directive
the situation in which an apparently neutral provision, criterion or practice would put persons of one sex at a particular disadvantage compared with persons of the other sex, unless that provision, criterion or practice is objectively justified on the basis of a legitimate aim, and the means of achieving that aim are appropriate and necessary

indirect emissions

CBAM Regulation
emissions from the production of electricity which is consumed during the production processes of goods, irrespective of the location of the production of the consumed electricity.

indirect holding

CRR
any exposure to an intermediate entity that has an exposure to capital instruments issued by a financial sector entity where, in the event the capital instruments issued by the financial sector entity were permanently written off, the loss that the institution would incur as a result would not be materially different from the loss the institution would incur from a direct holding of those capital instruments issued by the financial sector entity

indirect link

CSDR
an arrangement between a CSD and a third party other than a CSD, that is a participant in the securities settlement system of another CSD. Such link is set up by a CSD in order to facilitate the transfer of securities to its participants from the participants of another CSD

individual action 2 definitions

Energy Efficiency Directive
an action that leads to verifiable, and measurable or estimable, energy efficiency improvements and is undertaken as a result of a policy measure
Energy Union Governance Regulation
individual action as defined in point (19) of Article 2 of Directive 2012/27/EU

individual portfolio management of loans

Crowdfunding Regulation
the allocation by the crowdfunding service provider of a pre-determined amount of funds of an investor, which is an original lender, to one or multiple crowdfunding projects on its crowdfunding platform in accordance with an individual mandate given by the investor on a discretionary investor-by-investor basis

industrial battery

Batteries Regulation
a battery that is specifically designed for industrial uses, intended for industrial uses after having been subject to preparation for repurposing or repurposing, or any other battery that weighs more than 5 kg and that is neither an electric vehicle battery, an LMT battery, nor an SLI battery

industrial robot

Critical Raw Materials Act
an automatically controlled, reprogrammable, multipurpose manipulator, programmable in three or more axes, which can either be fixed or mobile for use in industrial automation applications

industry or multi-stakeholder initiative

CSDDD
a combination of voluntary due diligence procedures, tools and mechanisms, developed and overseen by governments, industry associations, interested organisations, including civil society organisations, or groupings or combinations thereof, that companies may participate in in order to support the implementation of due diligence obligations

inert waste

Landfill Directive
waste that does not undergo any significant physical, chemical or biological transformations. Inert waste will not dissolve, burn or otherwise physically or chemically react, biodegrade or adversely affect other matter with which it comes into contact in a way likely to give rise to environmental pollution or harm human health. The total leachability and pollutant content of the waste and the ecotoxicity of the leachate must be insignificant, and in particular not endanger the quality of surface water and/or groundwater

information asset

DORA
a collection of information, either tangible or intangible, that is worth protecting

information on breaches

Whistleblower Protection Directive
information, including reasonable suspicions, about actual or potential breaches, which occurred or are very likely to occur in the organisation in which the reporting person works or has worked or in another organisation with which the reporting person is or was in contact through his or her work, and about attempts to conceal such breaches

information recommending or suggesting an investment strategy

information requirement

Ecodesign for Sustainable Products Regulation
an obligation for a product to be accompanied by information as specified in Article 7(2)

information society service 5 definitions

Copyright in the Digital Single Market Directive
a service within the meaning of point (b) of Article 1(1) of Directive (EU) 2015/1535
Digital Markets Act
any service as defined in Article 1(1), point (b), of Directive (EU) 2015/1535
Digital Services Act
a ‘service’ as defined in Article 1(1), point (b), of Directive (EU) 2015/1535
EU Institutions Data Protection Regulation
a service as defined in point (b) of Article 1(1) of Directive (EU) 2015/1535 of the European Parliament and of the Council (17)
GDPR
a service as defined in point (b) of Article 1(1) of Directive (EU) 2015/1535 of the European Parliament and of the Council (19)

informed consent 4 definitions

AI Act
a subject’s freely given, specific, unambiguous and voluntary expression of his or her willingness to participate in a particular testing in real-world conditions, after having been informed of all aspects of the testing that are relevant to the subject’s decision to participate
Clinical Trials Regulation
a subject's free and voluntary expression of his or her willingness to participate in a particular clinical trial, after having been informed of all aspects of the clinical trial that are relevant to the subject's decision to participate or, in case of minors and of incapacitated subjects, an authorisation or agreement from their legally designated representative to include them in the clinical trial
In Vitro Diagnostic Medical Devices Regulation
a subject's free and voluntary expression of his or her willingness to participate in a particular performance study, after having been informed of all aspects of the performance study that are relevant to the subject's decision to participate or, in the case of minors and of incapacitated subjects, an authorisation or agreement from their legally designated representative to include them in the performance study
Medical Devices Regulation
a subject's free and voluntary expression of his or her willingness to participate in a particular clinical investigation, after having been informed of all aspects of the clinical investigation that are relevant to the subject's decision to participate or, in the case of minors and of incapacitated subjects, an authorisation or agreement from their legally designated representative to include them in the clinical investigation

infrastructure capacity

Single European Railway Area Directive
the potential to schedule train paths requested for an element of infrastructure for a certain period

infrastructure manager 2 definitions

Rail Passengers' Rights Regulation (recast)
an infrastructure manager as defined in point (2) of Article 3 of Directive 2012/34/EU
Single European Railway Area Directive
any body or firm responsible in particular for establishing, managing and maintaining railway infrastructure, including traffic management and control-command and signalling; the functions of the infrastructure manager on a network or part of a network may be allocated to different bodies or firms

ingredient 2 definitions

Food Information to Consumers Regulation
any substance or product, including flavourings, food additives and food enzymes, and any constituent of a compound ingredient, used in the manufacture or preparation of a food and still present in the finished product, even if in an altered form; residues shall not be considered as 'ingredients'
Organic Farming Regulation
an ingredient as defined in point (f) of Article 2(2) of Regulation (EU) No 1169/2011 or, for products other than food, any substance or product used in the manufacture or preparation of products that is still present in the finished product, even in altered form

initial capital 4 definitions

AIFMD
funds as referred to in points (a) and (b) of the first paragraph of Article 57 of Directive 2006/48/EC
CRR
the amount and types of own funds specified in Article 12 of Directive 2013/36/EU for credit institutions and in Title IV of that Directive for investment firms
Investment Firms Directive
the capital which is required for the purposes of authorisation as an investment firm, the amount and type of which are specified in Articles 9 and 11
Investment Firms Regulation
initial capital as defined in point (18) of Article 3(1) of Directive (EU) 2019/2034

innovation 3 definitions

Concessions Directive
the implementation of a new or significantly improved product, service or process, including but not limited to production, building or construction processes a new marketing method, or a new organisational method in business practices, workplace organisation or external relations, inter alia, with the purpose of helping to solve societal challenges or to support the Europe 2020 strategy.
Public Procurement Directive
the implementation of a new or significantly improved product, service or process, including but not limited to production, building or construction processes, a new marketing method, or a new organisational method in business practices, workplace organisation or external relations inter alia with the purpose of helping to solve societal challenges or to support the Europe 2020 strategy for smart, sustainable and inclusive growth
Utilities Procurement Directive
the implementation of a new or significantly improved product, service or process, including but not limited to production, building or construction processes, a new marketing method, or a new organisational method in business practices, workplace organisation or external relations, inter alia, with the purpose of helping to solve societal challenges or to support the Europe 2020 strategy for smart, sustainable and inclusive growth

innovative net-zero technologies

Net-Zero Industry Act
net-zero technologies that comprise genuine innovations which are not currently available on the market and that are advanced enough to be tested in a controlled environment

input data 2 definitions

AI Act
data provided to or directly acquired by an AI system on the basis of which the system produces an output
Benchmarks Regulation
the data in respect of the value of one or more underlying assets, or prices, including estimated prices, quotes, committed quotes or other values, used by an administrator to determine a benchmark

inside information 2 definitions

ETS Auctioning Regulation
information of a precise nature which has not been made public, relating, directly or indirectly, to one or more of the auctioned products, and which, if it were public, would be likely to have a significant effect on the prices at which bids would be made. For persons charged with the execution of bids, inside information also means information conveyed by a client and related to the client's pending bids, which is of a precise nature, which related directly or indirectly to one or more auctioned products and which, if it were made public, would be likely to have a significant effect on the prices at which bids would be made
REMIT Regulation
information of a precise nature which has not been made public, which relates, directly or indirectly, to one or more wholesale energy products and which, if it were made public, would be likely to significantly affect the prices of those wholesale energy products. For the purposes of this definition, 'information' means:

insolvency practitioner

Insolvency Regulation (recast)
any person or body whose function, including on an interim basis, is to:

insolvency proceedings

Insolvency Regulation (recast)
the proceedings listed in Annex A

Inspection

Clinical Trials Regulation
the act by a competent authority of conducting an official review of documents, facilities, records, quality assurance arrangements, and any other resources that are deemed by the competent authority to be related to the clinical trial and that may be located at the clinical trial site, at the sponsor's and/or contract research organisation's facilities, or at other establishments which the competent authority sees fit to inspect

installation 3 definitions

CBAM Regulation
a stationary technical unit where a production process is carried out
EU ETS Directive
a stationary technical unit where one or more activities listed in Annex I are carried out and any other directly associated activities which have a technical connection with the activities carried out on that site and which could have an effect on emissions and pollution
F-gas Regulation
the process of joining two or more pieces of equipment or circuits containing or designed to contain fluorinated greenhouse gases, with a view to assembling a system in the location where it will be operated, that entails joining together gas-carrying conductors of a system to complete a circuit irrespective of the need to charge the system after assembly

instantaneous oxidation

LULUCF Regulation
an accounting method that assumes that the release into the atmosphere of the entire quantity of carbon stored in harvested wood products occurs at the time of harvest. 2. The Commission is empowered to adopt delegated acts in accordance with Article 16, to amend or delete the definitions contained in paragraph 1 of this Article, or add new definitions thereto, in order to adapt that paragraph to scientific developments or technical progress and to ensure consistency between those definitions and any changes to relevant definitions in the IPCC Guidelines as adopted by the Conference of the Parties to the UNFCCC or the Conference of the Parties serving as the Meeting of the Parties to the Paris Agreement.

institution 4 definitions

BRRD
a credit institution or an investment firm
CRD IV
institution as defined in point (3) of Article 4(1) of Regulation (EU) No 575/2013
CRR
a credit institution or an investment firm;.
SRM Regulation
a credit institution, or an investment firm covered by consolidated supervision in accordance with Article 2(c)

institution exempted pursuant to Directive 2013/36/EU

DORA
an entity as referred to in Article 2(5), points (4) to (23), of Directive 2013/36/EU

institution for occupational retirement provision

DORA
an institution for occupational retirement provision as defined in Article 6, point (1), of Directive (EU) 2016/2341

institution under resolution 2 definitions

BRRD
an institution, a financial institution, a financial holding company, a mixed financial holding company, a mixed-activity holding company, a parent financial holding company in a Member State, a Union parent financial holding company, a parent mixed financial holding company in a Member State, or a Union parent mixed financial holding company, in respect of which a resolution action is taken
SRM Regulation
an entity referred to in Article 2 in respect of which a resolution action is taken

institution-specific countercyclical capital buffer

CRD IV
the own funds that an institution is required to maintain in accordance with Article 130

institutional investor

Securitisation Regulation
an investor which is one of the following:

instructions for use 4 definitions

AI Act
the information provided by the provider to inform the deployer of, in particular, an AI system’s intended purpose and proper use
In Vitro Diagnostic Medical Devices Regulation
the information provided by the manufacturer to inform the user of a device's intended purpose and proper use and of any precautions to be taken
Machinery Regulation
the information, provided by the manufacturer when the machinery or related product is placed on the market or put into service, to inform the user of the machinery or related product, of the intended and proper use of that machinery or related product, as well as information on any precautions to be taken when using or installing the machinery or related product, including information on the safety aspects, and on how to keep that machinery or related product safe, and to ensure that it remains fit for purpose during its entire lifetime
Medical Devices Regulation
the information provided by the manufacturer to inform the user of a device's intended purpose and proper use and of any precautions to be taken

instruments of ownership

BRRD
shares, other instruments that confer ownership, instruments that are convertible into or give the right to acquire shares or other instruments of ownership, and instruments representing interests in shares or other instruments of ownership

insurance advice

SFDR
advice as defined in point (15) of Article 2(1) of Directive (EU) 2016/97

insurance claim

Solvency II Directive
an amount which is owed by an insurance undertaking to insured persons, policy holders, beneficiaries or to any injured party having direct right of action against the insurance undertaking and which arises from an insurance contract or from any operation provided for in Article 2(3)(b) and (c) in direct insurance business, including an amount set aside for those persons, when some elements of the debt are not yet known. The premium owed by an insurance undertaking as a result of the non-conclusion or cancellation of an insurance contract or operation referred to in point (g) of the first subparagraph in accordance with the law applicable to such a contract or operation before the opening of the winding-up proceedings shall also be considered an insurance claim. 2. For the purpose of applying this Title to reorganisation measures and winding-up proceedings concerning a branch situated in a Member State of a third-country insurance undertaking the following definitions shall apply:

insurance distribution

Insurance Distribution Directive
the activities of advising on, proposing, or carrying out other work preparatory to the conclusion of contracts of insurance, of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim, including the provision of information concerning one or more insurance contracts in accordance with criteria selected by customers through a website or other media and the compilation of an insurance product ranking list, including price and product comparison, or a discount on the price of an insurance contract, when the customer is able to directly or indirectly conclude an insurance contract using a website or other media

insurance distributor

Insurance Distribution Directive
any insurance intermediary, ancillary insurance intermediary or insurance undertaking

insurance holding company

Solvency II Directive
a parent undertaking which is not a mixed financial holding company within the meaning of Directive 2002/87/EC and the main business of which is to acquire and hold participations in subsidiary undertakings, where those subsidiary undertakings are exclusively or mainly insurance or reinsurance undertakings, or third-country insurance or reinsurance undertakings, at least one of such subsidiary undertakings being an insurance or reinsurance undertaking.

insurance intermediary 3 definitions

DORA
an insurance intermediary as defined in Article 2(1), point (3), of Directive (EU) 2016/97 of the European Parliament and of the Council (34)
Insurance Distribution Directive
any natural or legal person, other than an insurance or reinsurance undertaking or their employees and other than an ancillary insurance intermediary, who, for remuneration, takes up or pursues the activity of insurance distribution
SFDR
an insurance intermediary as defined in point (3) of Article 2(1) of Directive (EU) 2016/97

insurance undertaking 6 definitions

CRD IV
insurance undertaking as defined in point (5) of Article 4(1) of Regulation (EU) No 575/2013
CRR
insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (20)
DORA
an insurance undertaking as defined in Article 13, point (1), of Directive 2009/138/EC
Insurance Distribution Directive
an undertaking as defined in Article 13 point 1 of Directive 2009/138/EC of the European Parliament and of the Council (13)
SFDR
an insurance undertaking authorised in accordance with Article 18 of Directive 2009/138/EC
Solvency II Directive
a direct life or non-life insurance undertaking which has received authorisation in accordance with Article 14

insurance-based investment product 2 definitions

Insurance Distribution Directive
an insurance product which offers a maturity or surrender value and where that maturity or surrender value is wholly or partially exposed, directly or indirectly, to market fluctuations, and does not include:
PRIIPs Regulation
an insurance product which offers a maturity or surrender value and where that maturity or surrender value is wholly or partially exposed, directly or indirectly, to market fluctuations

integrated electricity undertaking

Electricity Market Directive (recast)
a vertically integrated undertaking or a horizontally integrated undertaking

integrated natural gas undertaking

Gas Directive
a vertically or horizontally integrated undertaking

integration

Digital Content Directive
the linking and incorporation of digital content or a digital service with the components of the consumer's digital environment in order for the digital content or digital service to be used in accordance with the requirements for conformity provided for by this Directive

integrity of organic or in-conversion products

Organic Farming Regulation
the fact that the product does not exhibit non-compliance which:

intended purpose 4 definitions

AI Act
the use for which an AI system is intended by the provider, including the specific context and conditions of use, as specified in the information supplied by the provider in the instructions for use, promotional or sales materials and statements, as well as in the technical documentation
Cyber Resilience Act
the use for which a product with digital elements is intended by the manufacturer, including the specific context and conditions of use, as specified in the information supplied by the manufacturer in the instructions for use, promotional or sales materials and statements, as well as in the technical documentation
In Vitro Diagnostic Medical Devices Regulation
the use for which a device is intended according to the data supplied by the manufacturer on the label, in the instructions for use or in promotional or sales materials or statements or as specified by the manufacturer in the performance evaluation
Medical Devices Regulation
the use for which a device is intended according to the data supplied by the manufacturer on the label, in the instructions for use or in promotional or sales materials or statements and as specified by the manufacturer in the clinical evaluation

intended settlement date

CSDR
the date that is entered into the securities settlement system as the settlement date and on which the parties to a securities transaction agree that settlement is to take place

interactive computing capability

European Accessibility Act
functionality supporting human-device interaction allowing for processing and transmission of data, voice or video or any combination thereof

interchange fee

Geo-blocking Regulation
interchange fee as defined in point (10) of Article 2 of Regulation (EU) 2015/751

interchangeable equipment

Machinery Regulation
a device which, after the putting into service of machinery or an agricultural or forestry tractor, is assembled with that machinery or agricultural or forestry tractor by the operator in order to change its function or to attribute a new function to it, provided that the device is not a tool

interconnected system 3 definitions

Electricity Market Directive (recast)
a number of transmission and distribution systems linked together by means of one or more interconnectors
Electricity Regulation (recast)
interconnected system as defined in point (40) of Article 2 of Directive (EU) 2019/944
Gas Directive
a number of systems which are linked with each other

interconnection 2 definitions

Access Directive
the physical and logical linking of public communications networks used by the same or a different undertaking in order to allow the users of one undertaking to communicate with users of the same or another undertaking, or to access services provided by another undertaking. Services may be provided by the parties involved or other parties who have access to the network. Interconnection is a specific type of access implemented between public network operators
European Electronic Communications Code
a specific type of access implemented between public network operators by means of the physical and logical linking of public electronic communications networks used by the same or a different undertaking in order to allow the users of one undertaking to communicate with users of the same or another undertaking, or to access services provided by another undertaking where such services are provided by the parties involved or other parties who have access to the network

interconnector 3 definitions

Electricity Market Directive (recast)
equipment used to link electricity systems
Electricity Regulation (recast)
a transmission line which crosses or spans a border between Member States and which connects the national transmission systems of the Member States
Gas Directive
a transmission line which crosses or spans a border between Member States for the sole purpose of connecting the national transmission systems of those Member States

interest for late payment

Late Payment Directive
statutory interest for late payment or interest at a rate agreed upon between undertakings, subject to Article 7

interest rate benchmark

Benchmarks Regulation
a benchmark which for the purposes of point (1)(b)(ii) of this paragraph is determined on the basis of the rate at which banks may lend to, or borrow from, other banks, or agents other than banks, in the money market

interface

ITS Directive
a facility between systems which provides the media through which they can connect and interact

intermediary

Platform Work Directive
a natural or legal person that, for the purpose of making platform work available to or through a digital labour platform:

intermediary payment service provider

Wire Transfer Regulation (recast)
a payment service provider that is not the payment service provider of the payer or of the payee and that receives and transmits a transfer of funds on behalf of the payment service provider of the payer or of the payee or of another intermediary payment service provider

intermediary service

Digital Services Act
one of the following information society services:

intermediate product

Ecodesign for Sustainable Products Regulation
a product that requires further manufacturing or transformation such as mixing, coating or assembling to make it suitable for end-users

internal approaches

CRD IV
the internal ratings based approach referred to in Article 143(1), the internal models approach referred to in Article 221, the own estimates approach referred to in Article 225, the advanced measurement approaches referred to in Article 312(2), the internal models method referred to in Articles 283 and 363, and the internal assessment approach referred to in Article 259(3) of Regulation (EU) No 575/2013. 2. Where this Directive refers to the management body and, pursuant to national law, the managerial and supervisory functions of the management body are assigned to different bodies or different members within one body, the Member State shall identify the bodies or members of the management body responsible in accordance with its national law, unless otherwise specified by this Directive.

internal hedge

CRR
a position that materially offsets the component risk elements between a trading book and a non-trading book position or sets of positions

internal reporting

Whistleblower Protection Directive
the oral or written communication of information on breaches within a legal entity in the private or public sector

international freight service

Single European Railway Area Directive
a transport service where the train crosses at least one border of a Member State; the train may be joined and/or split and the different sections may have different origins and destinations, provided that all wagons cross at least one border

international open communication procedures and standards

CSDR
internationally accepted standards for communication procedures, such as standardised messaging formats and data representation, which are available on a fair, open and non-discriminatory basis to any interested party

international organisation 4 definitions

EPPO Regulation
an organisation and its subordinate bodies governed by public international law, or any other body which is set up by, or on the basis of, an agreement between two or more countries.
EU Institutions Data Protection Regulation
an organisation and its subordinate bodies governed by public international law, or any other body which is set up by, or on the basis of, an agreement between two or more countries
GDPR
an organisation and its subordinate bodies governed by public international law, or any other body which is set up by, or on the basis of, an agreement between two or more countries.
Law Enforcement Directive
an organisation and its subordinate bodies governed by public international law, or any other body which is set up by, or on the basis of, an agreement between two or more countries.

international passenger service

Single European Railway Area Directive
a passenger service where the train crosses at least one border of a Member State and where the principal purpose of the service is to carry passengers between stations located in different Member States; the train may be joined and/or split, and the different sections may have different origins and destinations, provided that all carriages cross at least one border

international protection

Blue Card Directive (recast)
international protection as defined in Article 2, point (a), of Directive 2011/95/EU.

international rail passenger service

Rail Passengers' Rights Regulation (recast)
a rail passenger service crossing at least one border of a Member State the principal purpose of which is to carry passengers between stations located in different Member States or in a Member State and a third country

international standard 4 definitions

Cyber Resilience Act
an international standard as defined in Article 2, point (1)(a), of Regulation (EU) No 1025/2012
Energy Efficiency Directive
a standard adopted by the International Standardisation Organisation and made available to the public
European Standardisation Regulation
a standard adopted by an international standardisation body
General Product Safety Regulation
an international standard as defined in Article 2, point (1), point (a) of Regulation (EU) No 1025/2012

international standardisation body

European Standardisation Regulation
the International Organisation for Standardisation (ISO), the International Electrotechnical Commission (IEC) and the International Telecommunication Union (ITU)

internet access service

Open Internet Regulation
a publicly available electronic communications service that provides access to the internet, and thereby connectivity to virtually all end points of the internet, irrespective of the network technology and terminal equipment used.

internet exchange point

NIS2 Directive
a network facility which enables the interconnection of more than two independent networks (autonomous systems), primarily for the purpose of facilitating the exchange of internet traffic, which provides interconnection only for autonomous systems and which neither requires the internet traffic passing between any pair of participating autonomous systems to pass through any third autonomous system nor alters or otherwise interferes with such traffic

internet exchange point (IXP)

NIS Directive
a network facility which enables the interconnection of more than two independent autonomous systems, primarily for the purpose of facilitating the exchange of internet traffic; an IXP provides interconnection only for autonomous systems; an IXP does not require the internet traffic passing between any pair of participating autonomous systems to pass through any third autonomous system, nor does it alter or otherwise interfere with such traffic

interoperability 7 definitions

Data Act
the ability of two or more data spaces or communication networks, systems, connected products, applications, data processing services or components to exchange and use data in order to perform their functions
Digital Content Directive
the ability of the digital content or digital service to function with hardware or software different from those with which digital content or digital services of the same type are normally used
Digital Markets Act
the ability to exchange information and mutually use the information which has been exchanged through interfaces or other solutions, so that all elements of hardware or software work with other hardware and software and with users in all the ways in which they are intended to function
Electricity Market Directive (recast)
in the context of smart metering, the ability of two or more energy or communication networks, systems, devices, applications or components to interwork to exchange and use information in order to perform required functions
Electricity Regulation (recast)
interoperability as defined in point (24) of Article 2 of Directive (EU) 2019/944
ITS Directive
the capacity of systems and the underlying business processes to exchange data and to share information and knowledge
Sale of Goods Directive
the ability of the goods to function with hardware or software different from those with which goods of the same type are normally used

interoperability arrangement 2 definitions

EMIR
an arrangement between two or more CCPs that involves a cross-system execution of transactions
MiFIR
an interoperability arrangement as defined in Article 2(12) of Regulation (EU) No 648/2012

interoperable link

CSDR
a CSD link whereby CSDs agree to establish mutual technical solutions for settlement in the securities settlement systems that they operate

interpersonal communications service

European Electronic Communications Code
a service normally provided for remuneration that enables direct interpersonal and interactive exchange of information via electronic communications networks between a finite number of persons, whereby the persons initiating or participating in the communication determine its recipient(s) and does not include services which enable interpersonal and interactive communication merely as a minor ancillary feature that is intrinsically linked to another service

interventional clinical performance study

In Vitro Diagnostic Medical Devices Regulation
a clinical performance study where the test results may influence patient management decisions and/or may be used to guide treatment

intra-group guarantee

BRRD
a contract by which one group entity guarantees the obligations of another group entity to a third party

intra-group transaction

Solvency II Directive
any transaction by which an insurance or reinsurance undertaking relies, either directly or indirectly, on other undertakings within the same group or on any natural or legal person linked to the undertakings within that group by close links, for the fulfilment of an obligation, whether or not contractual, and whether or not for payment

intrinsic value

CBAM Regulation
the intrinsic value for commercial goods as defined in Article 1, point (48), of Delegated Regulation (EU) 2015/2446

invasive device

Medical Devices Regulation
any device which, in whole or in part, penetrates inside the body, either through a body orifice or through the surface of the body

investigational device

Medical Devices Regulation
a device that is assessed in a clinical investigation

Investigational medicinal product

Clinical Trials Regulation
a medicinal product which is being tested or used as a reference, including as a placebo, in a clinical trial

investigator 3 definitions

Clinical Trials Regulation
an individual responsible for the conduct of a clinical trial at a clinical trial site
In Vitro Diagnostic Medical Devices Regulation
an individual responsible for the conduct of a performance study at a performance study site
Medical Devices Regulation
an individual responsible for the conduct of a clinical investigation at a clinical investigation site

Investigator's brochure

Clinical Trials Regulation
a compilation of the clinical and non-clinical data on the investigational medicinal product or products which are relevant to the study of the product or products in humans

investment advice 3 definitions

Investment Firms Regulation
investment advice as defined in point (4) of Article 4(1) of Directive 2014/65/EU
MiFID II
the provision of personal recommendations to a client, either upon its request or at the initiative of the investment firm, in respect of one or more transactions relating to financial instruments
SFDR
investment advice as defined in point (4) of Article 4(1) of Directive 2014/65/EU

investment advice of an ongoing nature

Investment Firms Regulation
the recurring provision of investment advice as well as the continuous or periodic assessment and monitoring or review of a client portfolio of financial instruments, including of the investments undertaken by the client on the basis of a contractual arrangement

investment firm 11 definitions

BRRD
an investment firm as defined in point (2) of Article 4(1) of Regulation (EU) No 575/2013 that is subject to the initial capital requirement laid down in Article 28(2) of Directive 2013/36/EU
CRD IV
investment firm as defined in point (2) of Article 4(1) of Regulation (EU) No 575/2013
CRR
a person as defined in point (1) of Article 4(1) of Directive 2004/39/EC, which is subject to the requirements imposed by that Directive, excluding the following:
DORA
an investment firm as defined in Article 4(1), point (1), of Directive 2014/65/EU
Investment Firms Directive
an investment firm as defined in point (1) Article 4(1) of Directive 2014/65/EU
Investment Firms Regulation
an investment firm as defined in point (1) of Article 4(1) of Directive 2014/65/EU
Market Abuse Regulation
an investment firm as defined in point (1) of Article 4(1) of Directive 2014/65/EU
MiCA
an investment firm as defined in Article 4(1), point (2), of Regulation (EU) No 575/2013 and authorised under Directive 2014/65/EU
MiFID II
any legal person whose regular occupation or business is the provision of one or more investment services to third parties and/or the performance of one or more investment activities on a professional basis. Member States may include in the definition of investment firms undertakings which are not legal persons, provided that:
MiFIR
an investment firm as defined in Article 4(1)(1) of Directive 2014/65/EU
SFDR
an investment firm as defined in point (1) of Article 4(1) of Directive 2014/65/EU

investment firm group 2 definitions

Investment Firms Directive
an investment firm group as defined in point (25) of Article 4(1) of Regulation (EU) 2019/2033
Investment Firms Regulation
a group of undertakings which consists of a parent undertaking and its subsidiaries or of undertakings which meet the conditions set out in Article 22 of Directive 2013/34/EU of the European Parliament and of the Council (20), of which at least one is an investment firm and which does not include a credit institution

investment fund

Benchmarks Regulation
an AIF as defined in point (a) of Article 4(1) of Directive 2011/61/EU, or a UCITS as defined in Article 1(2) of Directive 2009/65/EC

investment holding company 2 definitions

Investment Firms Directive
an investment holding company as defined in point (23) of Article 4(1) of Regulation (EU) 2019/2033
Investment Firms Regulation
a financial institution, the subsidiaries of which are exclusively or mainly investment firms or financial institutions, at least one of such subsidiaries being an investment firm, and which is not a financial holding company as defined in point (20) of Article 4(1) of Regulation (EU) No 575/2013

investment recommendations

Market Abuse Regulation
information recommending or suggesting an investment strategy, explicitly or implicitly, concerning one or several financial instruments or the issuers, including any opinion as to the present or future value or price of such instruments, intended for distribution channels or for the public. 2. For the purposes of Article 5, the following definitions apply:

investment services and activities 4 definitions

Investment Firms Directive
investment services and activities as defined in point (2) of Article 4(1) of Directive 2014/65/EU
Investment Firms Regulation
investment services and activities as defined in point (2) of Article 4(1) of Directive 2014/65/EU
MiFID II
any of the services and activities listed in Section A of Annex I relating to any of the instruments listed in Section C of Annex I. The Commission shall adopt delegated acts in accordance with Article 89 measures specifying:
MiFIR
investment services and activities defined in Article 4(1)(2) of Directive 2014/65/EU

investor 4 definitions

BRRD
an investor within the meaning of point (4) of Article 1 of Directive 97/9/EC of the European Parliament and of the Council (28)
Crowdfunding Regulation
any natural or legal person who, through a crowdfunding platform, grants loans or acquires transferable securities or admitted instruments for crowdfunding purposes
SRM Regulation
an investor within the meaning of Article 1(4) of Directive 97/9/EC of the European Parliament and of the Council (14). 2. In the absence of a relevant definition in paragraph 1 of this Article, the definitions referred to in Article 2 of Directive 2014/59/EU apply. In the absence of a relevant definition in paragraph 1 of this Article or in Article 2 of Directive 2014/59/EU, the definitions referred to in Article 3 of Directive 2013/36/EU apply.
Securitisation Regulation
a natural or legal person holding a securitisation position

invitation to purchase

Unfair Commercial Practices Directive
a commercial communication which indicates characteristics of the product and the price in a way appropriate to the means of the commercial communication used and thereby enables the consumer to make a purchase

ionising radiation

Organic Farming Regulation
ionising radiation as defined in point (46) of Article 4 of Council Directive 2013/59/Euratom (47)

isolated settlement

Landfill Directive
a settlement: - with no more than 500 inhabitants per municipality or settlement and no more than five inhabitants per square kilometre and, - where the distance to the nearest urban agglomeration with at least 250 inhabitants per square kilometre is not less than 50 km, or with difficult access by road to those nearest agglomerations, due to harsh meteorological conditions during a significant part of the year.

issued sovereign debt

Short Selling Regulation
the total of sovereign debt issued by a sovereign issuer that has not been redeemed

issuer 7 definitions

AIFMD
an issuer within the meaning of point (d) of Article 2(1) of Directive 2004/109/EC where that issuer has its registered office in the Union, and where its shares are admitted to trading on a regulated market within the meaning of point (14) of Article 4(1) of Directive 2004/39/EC
EU Taxonomy Regulation
an issuer as defined in point (h) of Article 2 of Regulation (EU) 2017/1129 of the European Parliament and of the Council (69)
Market Abuse Regulation
a legal entity governed by private or public law, which issues or proposes to issue financial instruments, the issuer being, in case of depository receipts representing financial instruments, the issuer of the financial instrument represented
MiCA
a natural or legal person, or other undertaking, who issues crypto-assets
MiFID I Implementing Regulation
an entity which issues transferable securities and, where appropriate, other financial instruments
Prospectus Regulation
a legal entity which issues or proposes to issue securities
Transparency Directive
a legal entity governed by private or public law, including a State, whose securities are admitted to trading on a regulated market, the issuer being, in the case of depository receipts representing securities, the issuer of the securities represented

issuer of asset-referenced tokens

DORA
an issuer of asset-referenced tokens as defined in the relevant provision of the Regulation on markets in crypto-assets

issuing of payment instruments

PSD2
a payment service by a payment service provider contracting to provide a payer with a payment instrument to initiate and process the payer’s payment transactions

ITS application

ITS Directive
an operational instrument for the application of ITS

ITS service

ITS Directive
the provision of an ITS application through a well-defined organisational and operational framework with the aim of contributing to user safety, efficiency, comfort and/or to facilitate or support transport and travel operations

ITS service provider

ITS Directive
any provider of an ITS service, whether public or private

ITS user

ITS Directive
any user of ITS applications or services including travellers, vulnerable road users, road transport infrastructure users and operators, fleet managers and operators of emergency services