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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

You are viewing the version of the document as on 2012-12-13.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

BIPRU TP 13 Other operational risk transitionals

1Application

13.1

R

BIPRU TP 13 applies to a BIPRU firm.

Purpose

13.2

G

BIPRU TP 13 implements Articles 155 of the Banking Consolidation Directive and Article 44 of the Capital Adequacy Directive.

Relevant indicator

13.3

R

Until 31 December 2012, a percentage of 15% applies to the business line "Trading and Sales" of a firm whose relevant indicator (as referred to in BIPRU 6.4.6 R) for the business line "Trading and Sales" represents at least 50% of the total of the relevant indicators for all of the firm's business lines in accordance with BIPRU 6.4.6 R to BIPRU 6.4.16 G (Calculating the ORCR under the standardised approach to operational risk).

Reduced operational risk charge in 2007

13.4

G

BIPRU TP 3.21R (Reduced ORCR for a firm applying pre-CRD capital requirements in 2007) also contains a transitional rule about operational risk.

Systems and controls in 2007

13.5

R

A reference in BIPRU 6 (Operational risk) to SYSC 4 to SYSC 10 (referred to in this rule as the "common platform requirements") or a part of those requirements must be read as being to the corresponding provisions of SYSC 3. This rule ceases to have effect on 1 November 2007 or on any earlier date on which the firm elects to comply with the common platform requirements in accordance with SYSC.