On 18 December 2008, the Committee of European Banking Supervisors (CEBS), CEIOPS and the Committee of European Securities Regulators (CESR) published their guidelines for the prudential assessment of acquisitions and increases in financial holdings as required by Directive 2007/44/EC on the procedural rules and evaluation criteria for the prudential assessment of acquisitions and increase of holdings in the financial sector. The guidelines contain a 'one stop' list of information that proposed acquirers should include in their notifications to Member States supervisory authorities. The guidelines also deal with the flow of information as between such supervisory authorities. The guidelines are available at www.cesr.eu.
It has also been recently reported that the UK HM Treasury is considering making changes to the powers of the Financial Services Authority (FSA) when examining proposed acquisitions and changes of control of FSA-regulated entities, which will include insurance and reinsurance companies.