FCA statement on compliance with Joint Committee Guidelines on Acquisitions and Incre

[Legal Beagles]

The Joint European Supervisory Authorities (ESA) Guidelines 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.

https://www.fca.org.uk/news/statemen...fying-holdings