The Financial Conduct Authority (FCA) has approved the long-awaited merger of Tilney and Smith & Williamson, after the firms restructured the deal following initial regulator concern.
In a statement last week (31 July 2020), a major Smith & Williamson (S&W) shareholder, Canadian asset manager AGF Management, said the deal had been signed off by the FCA and was now only subject to sanction at the UK High Court on Thursday (6 August 2020) – a normal process for the takeover of UK public companies.