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Financial Sector M&A: Draft Joint Guidelines on Changes to Acquisitions and Increases of Qualifying Holdings
22 July 2015
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The European Supervisory Authorities have issued a joint consultation paper on draft guidelines for the prudential assessment of acquisitions in the financial sector.
The guidelines will have an impact on the process of undertaking M&A transactions in the financial sector in the EU.
For proposed acquirers, the guidelines harmonise the conditions for notifying a competent regulatory authority of a proposed acquisition or an increase in a qualifying holding in a target entity, and clarify the information that has to be provided.
For competent regulatory authorities, the guidelines define the procedure to be followed and specify the criteria that need to be applied in the assessment process.
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