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.

COMP 7.1 Application

Application and Purpose

COMP 7.1.1R

This chapter applies to the FSCS.

COMP 7.1.2G

It is also relevant to claimants.

Purpose

COMP 7.1.3G

The FSCS may (and in some cases must) 1make an offer of compensation conditional on the assignment of rights to it by a claimant. The FSCS may also be subrogated automatically to the claimant's rights.1The purpose of this chapter is to make provision for and set out the consequences of an assignment or subrogation 1of the claimant's rights.