Content Options

Content Options

View Options

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.

outsourcing

      1. 28(1) (except in SYSC 8, COBS 11.7, SYSC 3 and SYSC 13 to the extent applicable to a Solvency II firm,70 and the definition of relevant person31) the use of a person to provide customised services to a firm other than:28
        1. (a) a member of the firm's governing body acting in his capacity as such; or28
        1. (b) an individual employed by a firm under a contract of service.28
      1. (2) (in SYSC 8, COBS 11.7, SYSC 3 and SYSC 13 to the extent applicable to a Solvency II firm,70 and the definition of relevant person31) an arrangement of any form between a firm and a service provider by which that service provider performs a process, a service or an activity which would otherwise be undertaken by the firm itself.28

    [Note: article 2(3) of the MiFID Org Regulation86 and article 13(28) of the Solvency II Directive70]28