What happened?
2023 was another active year for acquisitions in financial services, a trend expected to continue into the new year despite higher borrowing costs. With defined benefit (DB) transfers now treated as business as usual by the regulator, the FCA’s focus for regulatory due diligence is shifting.
Writing in Money Marketing, TCC’s Technical Director David Boyhan explains the reasons behind this change in priorities and sets out three areas acquirers should not overlook when reviewing a target firm.
Why does it matter?
Acquirers who base their due diligence on the FCA’s previous areas of focus risk overlooking the issues the regulator is now most concerned with, which could mean inheriting problems from a target firm after a deal completes.
Supporting sources
Frequently asked questions
Why is DB transfer due diligence changing?
Because the FCA now treats DB transfers as business as usual, which is shifting where the regulator expects acquirers to focus their due diligence.
Who wrote this analysis?
TCC’s Technical Director, David Boyhan, writing in Money Marketing.
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Reviewed by TCC Group Editorial Team