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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.

investment services and/or activities

    any of the services and activities listed in Part 3 of Schedule 2 to the Regulated Activities Order, relating to any of the instruments listed in Part 1 of Schedule 2 to that order,166 that is:

      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 multilateral trading facilities57; and150
      1. (i) operation of an OTF.150

    [Note: article 2(2) of MiFIR166 and regulation [5(8)] of the UK auctioning regulations178]