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.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

sovereign issuer

    (as defined in article 2(1)(d) of the short selling regulation) any of the following that issues debt instruments:

      1. (a) the EU; or
      1. (b) a Member State including a government department, an agency, or a special purpose vehicle of the Member State; or
      1. (c) in the case of a federal Member State, a member of the federation; or
      1. (d) a special purpose vehicle for several Member States; or
      1. (e) an international financial institution established by two or more Member States which has the purpose of mobilising funding and provide financial assistance to the benefit of its members that are experiencing or threatened by severe financing problems; or
      1. (f) the European Investment Bank.