Tilney/Smith & Williamson merger delayed due to coronavirus pandemic

'Significant progess' made in FCA talks so far

The proposed £45bn merger between Tilney and Smith & Williamson has been delayed due to a combination the coronavirus pandemic and ongoing concerns from the Financial Conduct Authority (FCA) regarding the transaction structure.

In a note to investors on S&W's website published today (15 April), the wealth management firm said it has been working closely with the FCA to develop a revised transaction structure after the regulatory...