The three European Supervisory Authorities (ESAs) launched a public consultation on updated Guidelines for the prudential assessment of acquisitions of qualifying holdings. The Guidelines define common procedures based on the assessment criteria laid down in the EU legislative framework that establishes how acquisitions and increases of qualifying holdings by natural or legal persons in financial institutions should be assessed. The Guidelines aim to harmonise supervisory practices in the financial sector across the EU and to provide more clarity to proposed acquirers on how they should notify the competent supervisory authorities. The deadline for the submission of comments is 2 October 2015. The ESAs will hold a public hearing on the draft Guidelines at the EBA premises in London on 20 August 2015.