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.

CMCOB TP 1 Transitional Provisions

1(1)

(2)

Material to which the transitional provision applies

(3)

(4)

Transitional provision

(5)

Transitional provision: dates in force

(6)

Handbook provision coming into force

1

CMCOB 6.1.7R

R

In relation to an agreement entered into before 1 April 2019:

(1) the firm need not comply with CMCOB 6.1.7R until 1 July 2019; and;

(2) the reference in CMCOB 6.1.7R to an illustration or estimate provided under CMCOB 4.2.5R is to be treated as a reference to the most recent illustration or estimate of fees (if any) provided before 1 April 2019.

From 1 April 2019

1 April 2019

2

CMCOB 6.1.7R

G

The effect of TP 1.1 is that, where a firm has sufficient information from which it may reasonably estimate what its fee under an agreement entered into before 1 April 2019 will be, the firm must provide an estimate to the customer no later than 1 July 2019 unless that estimate is unchanged from the most recent estimate given before 1 April 2019.

3

CMCOB 7.2.4R to 7.2.10R

R

A firm need not comply with CMCOB 7.2.4R to 7.2.10R.

1 April 2019 to 31 July 2019

1 April 2019