The Financial Conduct Authority and the Prudential Regulation Authority have respectively published finalised guidance and a supervisory statement on prudential assessment of acquisitions and increases in control (the Guidance).1 The Guidance took effect on publication on 1 November 2024 and replaces the EU's Joint Committee Guidelines on Acquisitions and Increases of Qualifying Holdings in the financial sector that came into force on 1 October 2007.
This In Practice article summarises the Guidance and highlights areas relevant to fund managers.