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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.

venture capital contact

    (when a firm carries on regulated activities 10 with or for a person in the course of or as a result of carrying on venture capital business) that person in connection with that regulated activity 10 if:

      1. (a) the firm does not behave in a way towards that person which might reasonably be expected to lead that person to believe that he is being treated as a client; and
      1. (b) the firm clearly indicates to that person that the firm:
        1. (i) is not acting for him; and
        1. (ii) will not be responsible to him for providing protections afforded to clients of the firm or be advising him on the relevant transaction.1