The Herrington Carmichael regulatory team advised EEA based fund on the FCA aspects of its acquisition of FCA authorised business.
The Client
An EEA-based investment fund seeking to expand into the UK financial services market through the acquisition of an FCA-authorised business.
The Challenge
The acquisition was a key strategic move for the client, providing a platform for UK market entry. However, the transaction required careful navigation of the Financial Conduct Authority's (FCA) change in control regime. The client had previously encountered delays and challenges with other advisors, making timely and effective regulatory support essential.
Our Approach
The Herrington Carmichael Regulatory Team advised the client on all FCA-related aspects of the acquisition. Our support included:
- Advising on the change in control process, including preparation of supporting documentation and regulatory submissions
- Engaging with the FCA to ensure a smooth and timely approval process
- Providing strategic guidance to align the transaction with the client's broader expansion goals
The Outcome
The FCA change in control approval was obtained swiftly, enabling the client to complete the acquisition and establish a presence in the UK. The client was particularly pleased with the speed and clarity of the process, especially in contrast to previous experiences.
What Our Team Said
Mark Chapman, Partner – Regulatory & Commercial, commented:
"We were delighted to support our client with the FCA aspects of this strategic acquisition, and we were particularly pleased to obtain FCA change in control approval quickly, against a backdrop of the client having been unsuccessful using previous advisors."
The Team
The project was led by Mark Chapman, Partner – Regulatory & Commercial, with support from Brendon Lesar, Registered Foreign Lawyer.