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.

Article 40 Structural separation

  1. (1)

    The independent valuer shall be a person separate from any relevant public authority, including the resolution authority, and the relevant entity.

  2. (2)

    For the purposes of paragraph 1, the following requirements shall apply:

    1. (a)

      in relation to natural persons, the independent valuer shall not be an employee or contractor of any relevant public authority or the relevant entity;

    2. (b)

      in relation to legal persons, the independent valuer shall not belong to the same group of companies as any relevant public authority or the relevant entity.