Applying for Change in Control (CiC)
All regulated firms are required to inform the FCA of proposed or actual changes in control. UK domestic firms, other than non-directive firms, must notify the appropriate regulator if any of the following cases are true:
- a person is aquiring control
- an existing controller is increasing control
- an existing controller is reducing control
- an existing controller is ceasing to have control
Non directive firms including firms with limited permissions are also required to notfiy the appropriate regulator if any of the following cases are true:
- a person is becoming a controller of the firm
- an existing controller is ceasing to be a controller of the firm
If you are looking to acquire control of or increase control of a regulated entity you will be required to notify the appropriate regulator as noted in Part 12 of the Financial Services Markets Act (FSMA). The notification is known as a change in control (CiC) and must be sought out before the change has taken place as approval will be required. If you believe that any of the above cases are true for your business, contact us to find out how we could support you.
SPEAK TO AN EXPERT
How can we support you?
We deal with all CiCs on a case-by-case basis and tailor our service to meet our client's individual needs. We have built our service specifically to help our clients confidently navigate regulation in a way that will keep their vision and objectives intact.
As part of our service, we will collate all of the forms required by the FCA for the CiC to take place, we will also write a small business plan for you as part of the process. We will put together a pre and post-CiC org chart to show what is happening as a result of the application and help you answer any questions that the regulator might have during the application.
If you are looking for support with an upcoming CiC or need assistance with an ongoing application, we can help you notify the FCA of the change and ensure that the CiC goes smoothly.
The sectors we work with...
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Investment Firms
Our Investment Firms team use their experienced regulatory knowledge to help asset managers and broker dealers with a full service offering over a large spectrum of regulatory issues.
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Consumer Finance & Insurance
We have successfully managed over 800 FCA applications for credit firms and currently have over 350 credit clients benefitting from our ongoing support.
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Digital Finance
Our industry leading team know the regulatory landscape inside out, with our experience extending from traditional and challenger banks, authorised e-money and payment institutions through to fintechs and cryptoassets.
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Financial Resilience
Our specialist Financial Resilience Team can help firms interpret their prudential requirements and avoid common errors that are likely to lead to unwanted attention from the regulator.
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Financial Crime
Cosegic’s experienced Financial Crime Team can help a broad range of firms across multiple different sectors, with a special emphasis on those organisations for whom financial crime is especially complex and demanding.
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Why choose Cosegic?
Our 360 degree perspective of regulatory affairs
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Our 360 degree perspective of regulatory affairs
Our wide range of financial sector experts come together on a regular basis to discuss their interactions with the FCA and the regulatory trends that they are seeing, providing us with a more informed understanding of the FCA than our competitors.
Direct, proportionate advice
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Direct, proportionate advice
Our unique perspective means we really do have our fingers on the pulse of regulation, which helps us to ensure that the advice we offer is practical, helpful and directly proportionate to our clients’ needs.
Our understanding of the role of compliance in firms
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Our understanding of the role of compliance in firms
We have watched the evolution of compliance over the past twenty years and understand that compliance must now become a core part of how financial services carry out their businesses in order for them to be successful.
Compliance confidence for visionary growth
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Compliance confidence for visionary growth
In recognising this, our services have been built in a way that can help you navigate regulation ensuring you will keep your vision and objectives intact. Our breadth of experience allows us to balance your business objectives with your compliance requirements.
