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.

Status: This chapter was amended on 31 December 2020 as a result of Brexit. However, it is subject to the FCA Prudential Transitional Direction, which means that firms should not comply with these provisions yet. Instead, firms must follow this link and continue to comply with pre-IP completion day requirements (unless specified otherwise in the Direction). To see a full list of Handbook modules affected, please see Section B of the Annex to the Direction.


  1. (1)

    A firm must be able to meet its liabilities as they fall due.

  2. (2)

    In complying with (1) a firm may use any assets which are available to meet any of its liabilities.


Firms are reminded that:

  1. (1)

    requirements relating to the systems and controls which firms must establish and maintain for ensuring compliance with financial resources and other requirements are set out in SYSC.

  2. (2)

    the financial reports that a firm is required to make to the FCA are set out in SUP 16.