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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.

acting as trustee or depositary of an AIF

    96the regulated activity, specified in article 51ZD of the Regulated Activities Order, which is, in summary, acting as:

      1. (a) a depositary of an AIF falling within article 51ZD(2) of the Regulated Activities Order;
      1. (b) the trustee of an authorised unit trust which is an AIF that does not fall within article 51ZD(2) of the Regulated Activities Order;
      1. (c) the depositary of an open-ended investment company or of an authorised contractual scheme which is an AIF that does not fall within article 51ZD(2) of the Regulated Activities Order.