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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.

You are viewing the version of the document as on 2018-01-03.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

investment services or activities

    51any of the services and activities listed in Section A of Annex I to MiFID relating to any financial instrument, that is:57

      1. (a) reception and transmission of orders in relation to one or more financial instruments;57
      1. (b) execution of orders on behalf of clients;57
      1. (c) dealing on own account;57
      1. (d) portfolio management;57
      1. (e) the making of a personal recommendation;57
      1. (f) underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis;57
      1. (g) placing of financial instruments without a firm commitment basis;57
      1. (h) operation of 57an MTF; and150
      1. (i) operation of an OTF.150

    [Note: article 4(1)(2) of, and section A of Annex 1 to, MiFID and article 6(5) of the auction regulation106]57