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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.

strategic investment

    106an investment which:

      1. (a) is made for a strategic purpose;
      1. (b) is made for an expected duration consistent with that purpose and is, or has the potential to be, illiquid or hard to value; and
      1. (c) is significant in value in proportion to the size of the with-profits fund.