Find out how to prepare your notification and understand what happens after you submit it.
If you're not sure whether you need to send us a notification, find out when to notify us and the factors to consider.
Who to notify
If the firm to be acquired is only regulated by us
You should submit your notification through our Connect system.
If the firm to be acquired is regulated by both us and the Prudential Regulation Authority (PRA)
You can either:
- submit the forms to us through Connect, and email or post them to the PRA, or
- send notification forms to both regulators by email or post
To download these forms and find our address, see our notification forms page.
Prepare your notification
What to read first
- COND in our Handbook – you'll need to explain how the firm you're acquiring will continue to meet each threshold condition
- Our framework for assessing adequate financial resources – this covers general capital requirements principles
- Our implementation of the IFPR regime – this covers consolidation if this is relevant to your proposed acquisition
- Our guidance on prudential assessment of acquisitions and increases in control – this sets out how to identify controllers and make the submission, and our approach to assessment and decision-making
Identify all controllers
You must identify all proposed controllers of the firm subject to the change in control, and submit Section 178 notification forms for each of them.
Find out how to identify controllers.
Other things to prepare
You'll also need to:
- produce detailed ownership charts, explaining any close links and regulated entities
- explain that you understand the risks in the business model for your proposed acquisition, and how these will be mitigated
- identify current and potential conflicts of interest, and how these will be managed
- provide evidence of any funding you have secured
- carry out criminal background checks
After submitting your notification
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1
We'll confirm we've received it
We'll allocate a case officer and confirm whether your notification is complete.
We can't assess your notification unless it's complete, so make sure you've answered all the relevant questions, and included and signed all the necessary forms.
When we confirm it's complete, a 60-business day assessment period (excluding any interruption period) starts.
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2
We may ask for more information
Please respond promptly to avoid delays.
If we request further relevant information in writing, we can interrupt the 60-day period for up to 30 business days from when we contact you. If this means that the last day of your assessment period will change, we'll let you know.
If you don't provide the information we request, we may object to the notification.
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3
We'll make a decision
Usually this happens within 60 business days of you submitting your complete notification.
If we object to your proposed acquisition, we'll issue a warning notice within the statutory time period setting out the reasons.
You would then have the opportunity to make representations as appropriate.
