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REC 3.24 Transfers of ownership

REC 3.24.1R

1When a UK RIE becomes aware of a transfer of ownership of the UK RIE which gives rise to a change in the persons who are in a position to exercise significant influence over the management of the UK RIE or (in the case of a UK RIE that is also an RAP) over the management of the RAP,2 whether directly or indirectly, it must immediately notify the FCA 3of that event, and:

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  1. (1)

    give the name of the person(s) concerned; and

  2. (2)

    give details of the transfer.

[Note: Article 38(2)(b) of MiFID]

REC 3.24.2G

The FCA 3may regard a person who falls within any of the cases in section 301(B)(2) of the Act as being in a position to exercise significant influence.

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