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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.

oil market participant

      1. 63
        1. a firm:
          1. (a) whose permission:
            1. (i) includes a requirement92 that the firm must not carry on any designated investment business other than oil market activity92; and
            1. (ii) does not include a requirement92 that it comply with IPRU(INV) 5 (Investment management firms) or 13 (Personal investment firms); and
          1. (b) which is not an authorised professional firm, bank, BIPRU firm92 (unless it is an exempt BIPRU commodities firm), IFPRU investment firm (unless it is an exempt IFPRU commodities firm), building society, credit union, friendly society, ICVC, insurer, MiFID investment firm (unless it is an exempt BIPRU commodities firm or exempt IFPRU commodities firm), media firm, service company, insurance intermediary, home finance administrator, mortgage intermediary, home finance provider96 92or regulated benchmark administrator92.