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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.

former underwriting member

    (as defined in section 324(1) of the Act (Interpretation of Part XIX: Lloyd's)) a person ceasing to be an underwriting member on, or at any time after, 24 December 1996.2