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.

PERG 6.4 Limitations of this guidance


Although what appears below is the FCA's approach, it cannot state what the law is, as that is a matter for the courts. Accordingly, this guidance is not a substitute for adequate legal advice on any transaction.


The list of principles and factors is not closed and this guidance by no means covers all types of insurance-like business.


The FCA will consider each case on its facts and on its merits.


In some cases transactions with the same commercial purpose or economic effect may be classified differently, ie some as insurance and some as non-insurance.