Content Options

Content Options

View Options

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.

designated committee

    37(in relation to a firm) a management body of the firm with delegated authority from the firm's governing body for approving either:

      1. (a) (in relation to a firm that uses the IRB approach) all material aspects of the firm's rating systems and material changes to the firm's rating systems; or
      1. (b) (in relation to a firm that uses the advanced measurement approach) all material aspects of the advanced measurement approach as carried out by the firm and material changes to the firm's advanced measurement approach; and
      1. (c) a policy statement defining the firm's overall approach to material aspects of rating and estimation processes for all rating systems including non-material rating systems in relation to the IRB approach, or its overall approach to the advanced measurement approach, as relevant;

    at least one of whose members is a member of the firm's governing body.