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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.

third-country banking and investment group

    13a banking and investment group that meets the following conditions:

      1. (a) it is headed by:
        1. (i) a credit institution; or
        1. (ii) an asset management company; or
        1. (iii) an investment firm; or
        1. (iv) a financial holding company;
        that has its head office outside the United Kingdom86;
      1. (b) it is not part of a wider consolidation group that is required by UK prudential sectoral regulation for the banking sector or the investment services sector to be subject to consolidated supervision.86