Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

REC 3.24 Transfers of ownership

REC 3.24.1RRP

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 a RAP) over the management of the RAP6, 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 46(2)(b)4 of MiFID]

REC 3.24.2GRP

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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