GEN 8.8.4

(1) In the case of an Authorised Person which is a Domestic Firm, a Person must not:
(a) become a Controller; or
(b) increase the level of control which that Person has in the Domestic Firm beyond a threshold specified in (2),
unless that Person has obtained the prior written approval of the Regulator to do so.
(2) For the purposes of (1)(b), the thresholds at which the prior written approval of the Regulator is required are when the relevant Holding is increased:
(a) from below 20% to 20% or more;
(b) from below 30% to 30% or more; or
(c) from below 50% to 50% or more.