CHANGE IN CONTROL (cic).
Supporting firms and investors through FCA change in control applications with confidence and clarity.
A change in control (CIC) is a regulatory trigger point that can halt transactions, delay investment, or raise supervisory concerns if mishandled. We help you stay in control of the narrative – shaping how the FCA understands your transaction, addressing potential concerns before they arise, and positioning your application to reflect stability, credibility, and long-term regulatory confidence.
As your regulatory translator, we leverage our expertise to address potential objections early, ensuring your submission is not only accurate – but compelling.
CONTROL THE CHANGE.
When acquiring a regulated firm, restructuring ownership, or bringing in new investors, the FCA must be notified and approve the change before it takes effect (as stipulated in Part 12 of the Financial Services Markets Act). The notification is known as a change in control (or CIC). We work with you to manage the process – from assessing threshold triggers and drafting controller forms to preparing supporting documents that clearly set out ownership structures, funding sources, and post-transaction plans.
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RATIONALE
Misjudging control thresholds can lead to regulatory breaches or needless filings. We work with you to assess and identify when a notification is required, allowing you to plan transaction timelines accordingly.
REGULATORY FRAMING
We leverage our regulatory prowess to craft a standout CIC submission that speaks directly to the FCA’s priorities. Your case is presented with clarity, confidence, and to resonate with regulators.
RESILIENCE
Our experts are on hand to empower you to respond quickly and strategically to FCA queries. This reduces the risk of objections and keeps your transaction on track, with minimal disruption to business or investors.
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FREQUENTLY ASKED QUESTIONS
Find answers to the questions we’re asked most often, from our compliance and training services to how we can support your business.
What is a change in control in a regulated firm?
A change in control (CIC) occurs when an individual or entity acquires or increases a significant shareholding in an FCA-regulated firm, typically at thresholds of 10%, 20%, 30%, or 50%. Under Part 12 of the Financial Services and Markets Act, the FCA must be notified and approve the change before it takes effect.
When does a change in control require FCA approval?
FCA approval is required whenever a person acquires or increases control over an FCA-regulated firm beyond the specified ownership thresholds. This includes acquisitions, restructuring of ownership, and bringing in new investors. Failing to notify the FCA in advance can result in serious regulatory consequences.
How long does FCA change in control approval take?
The FCA has a statutory assessment period of 60 working days to assess a change in control notification. The quality and completeness of your submission directly influences the timeline, making it essential to submit a thorough, well-prepared application from the outset.
What information does the FCA require for a change in control notification?
The FCA requires detailed information about the proposed controller, including ownership structures, funding sources, financial soundness, and post-transaction plans. Supporting documentation must clearly demonstrate the stability, credibility, and long-term regulatory confidence of the incoming controller.
How can Cosegic support our FCA change in control application?
Cosegic manages the entire change in control process, from assessing threshold triggers and drafting controller forms to preparing supporting documentation that clearly sets out ownership structures and post-transaction plans. Our regulatory expertise ensures your application is compelling, accurate and positioned for approval.