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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.

bonded investment

    4a designated investment not held by a trustee when acting as a trustee:

      1. (a) which, except in the case of a unit, is one of the following:
        1. (i) a readily realisable security held for a customer, whether or not held under a discretionary arrangement; or
        1. (ii) a designated investment in bearer form; or
        1. (iii) a designated investment held by a nominee company under the control of the firm or a person whom the firm controls; or
        1. (iv) a designated investment to which the title is recorded in electronic form;
      1. (b) which the firm may sell or procure the sale of without the signature or other action of the customer or an independent third party; and
      1. (c) where the proceeds of such a sale are or could be payable to the firm or its associate.