BUY AND SELL A FINANCIAL INSTITUTION
Companies in different financial situations (including FX, wealth managers, family offices, IB, M&As, FAs, IAs, payment processors, and fund managers) will at some point in their lifecycles find it necessary or desirable to grow beyond their current licensing limitations. For many such businesses, the natural way to move forward is by purchasing a financial institution or bank.
If you would like Financial Licensing Advisors to evaluate your financial institution before you sell it, we will need the following:
- Company documents and licenses for the financial institution.
- Two proofs of address and major stockholders IDs.
- CVs of all first- and second-level managers and directors.
- CVs of major shareholders.
- Recent background check of major shareholders and directives (should be performed by an authorized independent background reviewer).
- Audit statements (performed by Deloitte, EY, KPMG, BDO, PWC, or any other highly reputable auditor); if you are currently auditing with a smaller firm, a special audit should be done by any of the auditors described.
- A detailed explanation of why you and your partners are willing to sell the financial institution.
- Financial statements detailing your current position and the general status of such.
- Contact details of regulatory authorities in all applicable jurisdictions (we will contact authorities in all cases).
- All information submitted to regulatory bodies in the last 18 months, including quarterly and monthly reports.
- NDA and commission contract approval.
- Report on the IT systems and compliance platforms that your financial institution uses.
- SWIFT registration information.
- Banking associations registration information.
- Signed selling application request including initial DD reviews for all managers and directors.
- Capital requirements deposit statements and proof of such.
- List of all liabilities and company assets in foreign jurisdictions (not supervised).
Any other documents as requested by Financial Licensing Advisors.
*All documentation should be made available, notarized and apostilled within the last three months of the application being signed.
Selling a bank or other financial institution can be a complex process involving a great deal of paperwork. However, Financial Licensing Advisors can make it easier. Contact us today to find out how we can help.
Let us help you with your financial and licensing needs.
The information contained in this web site has been prepared solely for informational purposes and is not an offer to sell or purchase or a solicitation of an offer to sell or purchase an interest in any entity represented or managed by Financial Licensing Advisors ™
Financial Licensing Advisors ™ reserves the right to change, modify, add or remove portions of any content in this presentation at any time without notice and without liability. Those who are requesting services to Financial Licensing Advisors ™ do so at their own initiative and are responsible for compliance with any laws or regulations applicable to them.
You acknowledge that the content of this presentation is for general, informational purposes only and is not intended to constitute an offer to sell or buy any securities or promise to undertake or solicit business, may not be relied upon in connection with any offer or sale of securities. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related web sites with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such web sites, including the qualifications necessary to become an investor.
This presentation is not being used to provide investment or other advice, and nothing on it is to be deemed a recommendation that you buy, sell or hold any security or other investment or that you pursue any investment in any way. Accounting, tax or legal advice is specific to each circumstance thus you should consult with your own advisors with respect to your individual circumstances and needs.
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