PRA CP25/23 / FCA CP23/23 - Prudential assessment of acquisitions and increases in control (updated 26 February 2024)
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View this consultation in the FCA tracker table
We want feedback on proposals to replace EU guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector.
Why we are consulting
We, alongside the Prudential Regulation Authority (PRA), are consulting on proposals to replace the EU guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector (3L3 Guidelines) with a new PRA supervisory statement (SS) and FCA guidance.
Who is this for
The CP is relevant to:
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all PRA and FCA authorised firms and all persons to which Part XII of FSMA applies
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firms seeking to apply for PRA authorisation in identifying who their controllers are
Next steps
This consultation has now closed. We will publish feedback on responses and issue any finalised guidance in due course.
Background
The European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority jointly reviewed and updated the 3L3 Guidelines in 2017.