Published: 14th November 2017


Of relevance to: Any firm proposing a change in any shareholder holding 10% or more
Key date: Applicable from 1 October 2017

Guidelines issued by the Joint European Supervisory Authorities (“ESA”), including the European Securities and Markets Authority (“ESMA”), should be borne in mind should your firm have a prospective change in control.

The Guidelines relate to the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector;  the FCA and PRA will comply with the Guidelines except for provisions relating to the identification of acquirers of indirect qualifying holdings.

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