internally managed AIFs;
a firm that only has permission for benchmark activities and has the benefit of a waiver treating it as a limited scope SMCR firm as described in SYSC 23 Annex 1 6.12R (Benchmark firms: Waiver applying limited scope status). 3
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.