A person with Significant Control is someone who owns more than 25% of the firm (PSC). The following requirements must be met by this person:
- They possess more than a quarter of the stock in the firm.
- They control more than 25% of the voting power in the firm.
- They have the authority to nominate or dismiss the majority of the board of directors.
- They have the right to, or already have, substantial influence or control.