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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.

current approved person approval

    253(in relation to an approved person in relation to a particular firm and controlled function as at any particular time) an approval under section 59 of the Act (Approval for particular arrangements) given by the FCA or the PRA in relation to that person for the performance of that controlled function in relation to that firm that is in force at that time.

    An approval is treated as having been given by the FCA or the PRA if it is deemed to have been given by either of them for the purposes of the Act by:227

    (a) an Act or any subordinate legislation made under that Act; or 227

    (b) rules made by the FCA or the PRA. 227

    A person treated as approved under section 59ZZA of the Act (as treated as being inserted into the Act by the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (SI 2018/1149)) has a current approved person approval.230