Since the advent of deregulation following the Financial Services Act 1986, increased competition in all areas of financial services has led the boards of many mutual organizations to examine their options. This "Special Report" offers practitioners timely and detailed guidance on the increasingly important and fast-moving area of demutualization. It takes into account the special considerations and regulations attached to each of the three key types of mutual building societies life assurance companies and friendly societies. The authors' combined knowledge and practical experience cover all the angles which may impact upon the deal and provide practitioners with a complete picture of the strategic considerations to bear in mind when advising on a potential change of status.