Paraplanning Consolidation
Centralising technical support functions.

Part 4A Permission
A firm’s permission under FSMA to carry on specified regulated activities.

Past Business Review (PBR)
A review of historic advice to identify client harm and potential remediation.

Pension Transfer Specialist (PTS)
An individual holding the required qualification to advise on specified pension transfers.

Permission Consolidation
Aligning FCA permissions into fewer entities.

Personal Data Breach
A security breach involving the loss, alteration, disclosure of or access to personal data.

Pipeline
Potential new business not yet completed or converted into revenue.

Platform Migration
Movement of client assets between platforms.

Politically Exposed Person (PEP)
A person entrusted with a prominent public function, or certain connected persons, presenting elevated financial-crime risk.

Positive Consent
Express client agreement to new terms or a transfer. The FCA generally expects receiving firms to obtain evidence of client consent and appropriate client agreements.

Principal Firm
An authorised firm accepting regulatory responsibility for its appointed representatives.

Principle 11 Notification
Notification arising from the obligation to deal with regulators openly and cooperatively.

Privacy Notice
Information given to individuals about the collection and use of their personal data.

Professional Indemnity Insurance (PII)
Insurance covering certain liabilities arising from professional services or advice.

Provider/Platform Concentration
Reliance on a small number of product providers or platforms.

Prudential Consolidation
Assessment of regulatory capital and risk at group rather than solely entity level.

Purchase Price Adjustment
An increase or decrease to the Purchase Price resulting from Completion Accounts or another agreed mechanism.

Purchase Price/Consideration
The amount payable for the business or shares, as applicable.