Content Options

Content Options

View Options

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.

specified investment

    (1)180 any of the following investments specified in Part III of the Regulated Activities Order (Specified Investments):

      1. (a) deposit (article 74);
      1. (aa) electronic money (article 74A);
      1. (b) contract of insurance (article 75); for the purposes of the permission regime, this is sub-divided into:
        1. (i) general insurance contract;
        1. (ii) long-term insurance contract;
        and then further sub-divided into classes of contract of insurance;
      1. (c) share (article 76);
      1. (d) debenture (article 77);
      1. (e) government and public security (article 78);
      1. (f) warrant (article 79);
      1. (g) certificate representing certain securities (article 80);
      1. (h) unit (article 81);
      1. (i) stakeholder pension scheme (article 82(1));
      1. (ia) personal pension scheme (article 82(2));
      1. (iab) pension scheme which provides safeguarded benefits (article 82(3)) (but only in relation to advising on conversion or transfer of pension benefits));167
      1. (j) option (article 83); for the purposes of the permission regime, this is sub-divided into:
        1. (i) option (excluding a commodity option and an option on a commodity future);
        1. (ii) commodity option and an option on a commodity future;
      1. (k) future (article 84); for the purposes of the permission regime, this is sub-divided into:
        1. (i) future (excluding a commodity future and a rolling spot forex contract);
        1. (ii) commodity future;
        1. (iii) rolling spot forex contract;
      1. (l) contract for differences (article 85); for the purposes of the permission regime, this is sub-divided into:
        1. (i) contract for differences (excluding a spread bet and a rolling spot forex contract);
        1. (ii) spread bet;
        1. (iii) rolling spot forex contract;
      1. (m) underwriting capacity of a Lloyd's syndicate (article 86(1));
      1. (n) membership of a Lloyd's syndicate (article 86(2));
      1. (o) funeral plan contract (article 87);
      1. (oa) regulated mortgage contract (article 61(3);
      1. (ob) home reversion plan (article 63B(3));
      1. (oc) home purchase plan (article 63F(3));
      1. (od) regulated sale and rent back agreement (article 63J(3));
      1. (oe) 180emissions auction products (article 82A);200
      1. 122(of) credit agreement (article 88D) for the purposes of the permission regime with respect to the regulated activities of entering into a regulated credit agreement as lender and exercising, or having the right to exercise, the lender's rights and duties under a regulated credit agreement, this is sub-divided into:
        1. (i) a credit agreement (excluding high-cost short-term credit, a home credit loan agreement and a bill of sale loan agreement);
        1. (ii) high-cost short-term credit;
        1. (iii) a home credit loan agreement;
        1. (iv) bill of sale loan agreement;
        and this has effect as if the reference to a credit agreement includes a reference to an article 36H agreement within the meaning of article 36H (4) of the Regulated Activities Order;
      1. 122(og) consumer hire agreement (article 88E);
      1. (p) rights to or interests in investments (article 89).

    (2) (in COLL) in addition and to the extent it does not fall within (1), an investment which would have been within the definition of “specified investment” in the FCA Handbook immediately before IP completion day194.180