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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.

IDD ancillary insurance intermediary

    160any natural or legal person, other than a credit institution or an investment firm who, for remuneration, takes up or pursues the activity of insurance distribution on an ancillary basis, provided that all the following conditions are met:

      1. (a) the principal professional activity of that natural or legal person is other than insurance distribution;
      1. (b) the natural or legal person only distributes certain insurance products that are complementary to a good or service; and
      1. (c) the insurance products concerned do not cover life assurance or liability risks, unless that cover complements the good or service which the intermediary provides as its principal professional activity.

    [Note: article 2(1)(4) of the IDD]