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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.

custodian

        1. (a) an approved bank;
        1. (b) an approved depositary
        1. (c) a member of a recognised investment exchange159;
        1. (d) a firm whose permitted activities include safeguarding and administering investments;
        1. (e) a regulated clearing firm;
        1. (f) where it is not feasible to use a custodian in (a) to (e), and there are reasonable grounds to show that a person outside the United Kingdom, whose business includes the provision of custodial services, is able to provide such services which are appropriate to the client and in the client's best interest to use, that person.