Change in Control (CiC)

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Applying for Change in Control (CiC)

All regulated entities are obligated to notify the Financial Services Regulatory Authority (FSRA) of any proposed or actual changes in control. This includes, but is not limited to, the following scenarios:

• A person is acquiring control of the firm.
• An existing controller is increasing their control.
• An existing controller is reducing their control.
• An existing controller is ceasing to have control.

Furthermore, non-directive firms, including those with limited permissions, must also inform the FSRA in cases such as:

• A person is becoming a controller of the firm.
• An existing controller is ceasing to be a controller of the firm.

Should you be considering acquiring or increasing control over a regulated entity, it's necessary to notify the FSRA as outlined in the relevant regulatory framework. This notification, known as a change in control (CiC), must be submitted prior to the actual change and requires approval from the FSRA. If any of the above scenarios apply to your business, please reach out to us to explore how we can assist you in this process.

We approach each Change in Control (CiC) uniquely, customizing our service to meet the specific needs of our clients. Our service is designed to help clients confidently navigate regulatory requirements while preserving their vision and objectives.

As part of our service, we will gather all necessary forms required by the Financial Services Regulatory Authority (FSRA) for the CiC process. Additionally, we will draft a tailored business plan for you as part of the application process. We will also create pre and post-CiC organizational charts to illustrate the changes resulting from the application and assist you in addressing any inquiries the regulator may have during the process.

If you're seeking support for an upcoming CiC or require assistance with an ongoing application, we can help you notify the FSRA of the change and ensure that the CiC process is executed smoothly.

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