Double registration
Q. We are looking to double in size by acquiring a local firm prior to the retirement of its principal. As both firms are regulated, can we go ahead with the deal and deregister the other firm once we have acquired it?
The first point is that, now that we are a regulated community, such an acquisition is a notifiable event to the Financial Services Authority and requires their approval.
Consequently, you should contact them at the earliest possible stage, understand what further information they will require and ensure that they are satisfied that the proposed new firm will not present any dangers or threats to the insuring public.
Among the points on which they will need to be satisfied will be the solvency
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