FCA Statement On Compliance With Joint Committee Guidelines On Acquisitions And Increases Of Qualifying Holdings (Changes In Control)

The Joint European Supervisory Authorities (ESA) Guidelines(link is external) on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector come into force on 1 October 2017. The FCA and PRA have notified the ESAs that they will comply with the Guidelines except for provisions relating to the identification of acquirers of indirect qualifying holdings. 

Firms should continue to use the existing methodology as laid out in Part XII FSMA to identify proposed and/or existing controllers.

For guidance on identifying controllers please refer to the quick reference guide (PDF).

Read more on Change in control.