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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.

permitted scheme interests

      1. 59(a) 122[deleted]122
      1. (b) in respect of a firm's business with linked policyholders122 any of the following:
        1. (i) an authorised fund;
        1. (ii) a recognised scheme;
        1. (iii) a 63scheme falling within the UCITS Directive;63
        1. (iv) a non-UCITS retail scheme;
        1. (v) a qualified investor scheme or its EEA equivalent or any unregulated collective investment scheme that invests only in permitted links and publishes its prices regularly, provided that either:199
          1. (A) no more than 20% of the gross assets of the linked fund are so invested; or199
          1. (B) provided that the firm treats it as a conditional permitted link and meets the conditions in COBS 21.3.16R and the requirements in COBS 21.3.20R and COBS 21.2.4R(3), it complies with the aggregated limit in COBS 21.3.19R.199