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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.

OPS activity

      1. (a) managing investments in a case where the assets managed are:
        1. (i) held for the purposes of an occupational pension scheme; or
        1. (ii) held for the purposes of a welfare trust established by a person who is, or has been at any time during the last 12 months, an associate of the OPS firm; or
        1. (iii) assets of an OPS collective investment scheme;
      1. (b) any one or more of the following activities undertaken in the course of, or incidental to, the operation of an occupational pension scheme, welfare trust or OPS collective investment scheme:
        1. (i) dealing in investments as principal;
        1. (ii) dealing in investments as agent;
        1. (iii) arranging (bringing about) deals in investments;
        1. (iv) making arrangements with a view to transactions in investments;
        1. (v) safeguarding and administering investments;
        1. (vi) advising on investments;
        1. (vii) receiving or holding client money.4