FCA approves Standard Life Aberdeen merger

The FCA has approved the merger of Standard Life and Aberdeen Asset Management due to complete in three weeks’ time.

In an announcement this afternoon, the companies stated that the FCA and the Prudential Regulation Authority have confirmed their approval of the deal.

It still remains subject to regulatory approvals in other jurisdictions and to a final approval at a court hearing scheduled for 11 August.

The merger is expected to complete on 14 August.

The Competition Markets Authority gave the £11bn merger the green light in June, following approval from shareholders.

The deal will create the UK’s largest asset manager with AUM set to total around £660bn.