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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.

closely related

    48(in GENPRU and BIPRU) describes a relationship between two or more persons under which one or more of the following applies:

      1. (a) the insolvency or default of one of them is likely to be associated with the insolvency or default of the others;
      1. (b) it would be prudent when assessing the financial condition or creditworthiness of one to consider that of the others; or
      1. (c) there is, or there is likely to be, a close relationship between the financial performance of those persons.