Aggregation of holdings for the purpose of prudential assessment of controllers

Supervisory Statement 33/15
Published on 03 August 2015

This supervisory statement sets out the expectations of the Prudential Regulation Authority (PRA) in relation to how one person’s holding of shares or voting power should be aggregated with that of another person for the purpose of determining whether those persons have decided to acquire or increase control over a UK-authorised person, such that notice must be given to the PRA in accordance with s 178 of the Financial Services and Markets Act 2000 (FSMA).

This statement is intended to be read together with the rules contained in the Change in Control and Close Links Parts of the PRA Rulebook. This supervisory statement is relevant to all PRA-authorised firms and, in particular, persons to which the Change in Control Part applies.

PDFSupervisory Statement 33/15