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.

dilution

    316(in COLL) the amount of dealing costs incurred, or expected to be incurred, by or for the account of a single-priced authorised fund 32 to the extent that these costs may reasonably be expected to result, or have resulted, from the acquisition or disposal of investments by or for the account of the single-priced authorised fund 32 as a consequence (whether or not immediate) of the increase or decrease in the cash resources of the single-priced authorised fund 32 resulting from the issue or cancellation of units over a period;

    for the purposes of this definition, dealing costs include both the costs of dealing in an investment, professional fees incurred, or expected to be incurred, in relation to the acquisition or disposal of an immovable32and, where there is a spread between the buying and selling prices of the investment, the indirect cost resulting from the differences between those prices32.