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.

critical functions

    171activities, services or operations (wherever carried out)230 the discontinuance of which is likely230 to lead to the disruption of essential services to the real economy of the UK230 or to disrupt financial stability in the UK230 due to the:

      1. (a) size;
      1. (b) market share;
      1. (c) external and internal interconnectedness;
      1. (d) complexity; or
      1. (e) cross-border activities,

    of an RRD institution or RRD group, particularly bearing in mind the substitutability of those activities, service or operations.

    [Note: article 2(1)(35) of RRD]