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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.

prime brokerage firm

    84a firm that provides prime brokerage services to a client and which may do so acting as principal.

      1. 104(1) (except in FUND) a firm that provides prime brokerage services to a client and which may do so acting as principal.
      1. 104(2) (in FUND) a credit institution, regulated investment firm or another entity subject to prudential regulation and ongoing supervision, offering services to professional clients primarily to finance or execute transactions in financial instruments as counterparty and which may also provide other services, such as clearing and settlement of trades, custodial services, stock lending, customised technology and operational support facilities.

    [Note: article 4(1)(af) of AIFMD]