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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.

large ACS investor

    49in relation to an ACS, a person who in exchange for units in the scheme:

      1. (a) makes a payment of not less than £1,000,000; or
      1. (b) contributes property with a value of not less than £1,000,000.