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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.

standard non-executive director

    160(in relation to a firm) any of the following:

      1. (1) a board director of that firm who:
        1. (a) has no responsibility for implementing the decisions or the policies of the board of directors, or if there is no such board, of the equivalent body responsible for the management of the firm; and
        1. (b) is not:
          1. (i) an SMF manager; or
          1. (ii) an approved person whose approval is to perform an FCA significant-influence function; or
          1. (iii) an approved person whose approval is to perform a senior insurance management function as defined in the PRA Rulebook;
          of that firm; or
      1. (2) a non-executive director of that firm who is an employee (as defined in paragraph (4) of the Glossary definition of employee) of that firm.