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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.

BIPRU firm

    50

    a firm, as defined in article 4(1)(2)(c) of the UK CRR75

    that satisfies the following conditions:

      1. (a) it is authorised to provide one or more the following investment services:
        1. (i) execution of orders on behalf of clients;
        1. (ii) portfolio management; and
      1. (b) it may provide one or more of the following investment services:
        1. (i) reception and transmission of orders in relation to one or more financial instruments;
        1. (ii) investment advice;
        but excluding firms of the type listed in BIPRU 1.1.7 R (Exclusion of certain types of firm from the definition of BIPRU firm).