Submit a change in control notification

Find out how to prepare your notification and understand what happens after you submit it.

If you're not sure whether you need to send us a notification, find out when to notify us[1] and the factors to consider.

You can't acquire or increase a control in a firm authorised by us or the PRA without getting our approval first. If you do, it's a criminal offence.

Who to notify

If the firm to be acquired is only regulated by us

You should submit your notification through our Connect[2] system.

If the firm to be acquired is regulated by both us and the Prudential Regulation Authority (PRA)

You can either:

submit the forms to us through Connect, and email or post them to the PRA, or
send notification forms to both regulators by email or post

To download these forms and find our address, see our notification forms[3] page.

Prepare your notification

Bear in mind that our guidance can't cover every possible scenario. There will be additional factors you need to consider. You may find it useful to talk about your notification with your usual FCA contact (if you have one) or by calling our helpline[4].

What to read first

COND[5] in our Handbook – you'll need to explain how the firm you're acquiring will continue to meet each threshold condition
Our framework for assessing adequate financial resources[6] – this covers general capital requirements principles
Our implementation of the IFPR regime[7] – this covers consolidation if this is relevant to your proposed acquisition
Our guidance on prudential assessment of acquisitions and increases in control[8] – this sets out how to identify controllers and make the submission, and our approach to assessment and decision-making

Identify all controllers

You must identify all proposed controllers of the firm subject to the change in control, and submit Section 178 notification forms for each of them.

Find out how to identify controllers[9].

Other things to prepare

You'll also need to:

produce detailed ownership charts, explaining any close links and regulated entities
explain that you understand the risks in the business model for your proposed acquisition, and how these will be mitigated
identify current and potential conflicts of interest, and how these will be managed
provide evidence of any funding you have secured
carry out criminal background checks

Criminal background checks

We require individual controllers and beneficial owners to have carried out a criminal background check no earlier than 6 months prior to notifying us of an intended acquisition or increase in control.

Any changes that have occurred since the check was completed should be set out in the notification.

A standard check (or basic check if the former is not available), should to be obtained from the Disclosure and Barring Service (DBS) (if applying from within England and Wales) before notifying us. Sole directors or beneficial owners of registered cryptoasset businesses (to which Schedule 6B of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 applies) are only required to obtain a basic check. Find out more about obtaining a DBS check certificate[10].

If the individual controllers or beneficial owners are based in Scotland, Northern Ireland or outside the UK, they will need to request an equivalent criminal background check. Evidence of the check should be readily available in English if we request it.

Business plan

If you're sending us a business plan in respect of your proposed acquisition, remember to cover the areas below. Some notifications take longer to assess because the business plan isn't detailed enough.

Business to be undertaken	This should include how you intend to run the business going forward and any planned changes to the regulated activities and strategy of the target firm(s). We also expect to see complete projected financials that explain how you'll maintain the minimum capital requirements of the target firm(s).
Governance	Provide an overview of the firm’s governance arrangements, including Board composition and any Board sub-committees.
Staff	Include an organisation chart that includes all controllers[11] and close links[12], what business they conduct and whether they're regulated; and shows all key staff and roles. Explain the rationale for the appointment and suitability of members of the governing board, the compliance officer and other approved persons. Describe the background and experience of everyone performing significant functions such as directors or senior managers.
Outsourcing	Think about what areas of the business to be acquired are going to be outsourced and how this will be overseen.
Systems and controls / Risk Management	Consider how your firm will identify and manage conduct risks. Provide an overview of your firm’s financial crime controls, anti-money laundering procedures and due diligence processes.
Consumer Duty	Remember that the firms to be acquired might have a responsibility to meet the standards and outcomes set by our Consumer Duty[13] for relevant retail market business. There's more about this in our finalised guidance[14].

After submitting your notification

1

We'll confirm we've received it

We'll allocate a case officer and confirm whether your notification is complete.

We can't assess your notification unless it's complete, so make sure you've answered all the relevant questions, and included and signed all the necessary forms[3].

When we confirm it's complete, a 60-business day assessment period (excluding any interruption period) starts.
2

We may ask for more information

Please respond promptly to avoid delays.

If we request further relevant information in writing, we can interrupt the 60-day period for up to 30 business days from when we contact you. If this means that the last day of your assessment period will change, we'll let you know.

If you don't provide the information we request, we may object to the notification.
3

We'll make a decision

Usually this happens within 60 business days of you submitting your complete notification.

If we object to your proposed acquisition, we'll issue a warning notice within the statutory time period setting out the reasons.

You would then have the opportunity to make representations as appropriate.

29/10/2025 : Technical update: no content changed

17/01/2025 : Information added Criminal background checks

31/10/2024 : Link added Adding FG24/5

13/12/2023 : Information changed Page updated as part of website refresh

31/07/2023 : Information added on Consumer Duty requirements

08/06/2023 : Editorial amendment December 2022 update removed.

13/03/2023 : Editorial amendment website refresh menu update

10/02/2023 : Editorial amendment page updated as part of website refresh

23/12/2022 : Information added December 2022 update

11/08/2022 : Information added Preparing your notification section: regarding registered cryptoasset firms

First published: 12/10/2019 Last updated: 29/10/2025 See all updates

Submit a change in control notification

Who to notify

If the firm to be acquired is only regulated by us

If the firm to be acquired is regulated by both us and the Prudential Regulation Authority (PRA)

Prepare your notification

What to read first

Identify all controllers

Other things to prepare

Criminal background checks

Business plan

After submitting your notification

We'll confirm we've received it

We may ask for more information

We'll make a decision

On this page

Change in control[1]