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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.

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.

qualifying parent undertaking

    25has the meaning in section 192B (meaning of "qualifying parent undertaking") of the Act which, in summary, is a parent undertaking of:

      1. (a) an authorised person that is a body corporate incorporated in the UK 26that26 is:
        1. (i) a PRA-authorised person; or
        1. (ii) an investment firm; or
      1. (b) a recognised investment exchange that is not an overseas investment exchange;

    where the parent undertaking is:

      1. (c) a body corporate which:
        1. (i) is incorporated in the UK; or
        1. (ii) has a place of business in the UK;
      1. (d) not an authorised person, a recognised investment exchange or a recognised clearing house; and
      1. (e) any of the following:
        1. (i) an insurance holding company;
        1. (ii) a financial holding company;
        1. (iii) a mixed financial holding company;
        1. (iv) for certain purposes, a mixed-activity holding company.