Regulatory Alerts2013-08-05
Added
Control or Substantial Non-Controlling Interest in Non-Bank Financial Corporations
The directive updates the regulatory framework for bank holding companies seeking to establish or acquire control or substantial non-controlling interests in non-bank financial corporations, both domestically and abroad. It mandates a 45-day prior written notification to the Supervisor, requiring detailed disclosures regarding the target entity's structure, risk management, financial standing, and the acquirer's strategic intent. The Supervisor evaluates these requests based on criteria including financial resilience, management capability, risk appetite, and public interest, while also imposing ongoing reporting obligations for material changes in holdings or activities.
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