Entire Section

  • FER 2.7 FER 2.7 Applications relating to Authorised Individuals and Key Individuals

    • FER 2.7.1

      An Authorised Firm applying to the DFSA:

      (a) for Authorised Individual status for an individual;
      (b) to amend an Authorised Individual's authorisation to include a new Licensed Function; or
      (c) to substitute one Authorised Individual for another performing a particular Licensed Function in the Authorised Firm,

      must pay to the DFSA an application fee of $500 for each Authorised Individual for whom it is seeking authorisation; to amend the scope of his authorisation; or to substitute as an Authorised Individual (as the case may be).

      [Added] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
      [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 2.7.2 FER 2.7.2

      An Authorised Market Institution applying to the DFSA:

      (a) for Key Individual status for an individual;
      (b) to amend a Key Individual's authorisation to include a new Licensed Function; or
      (c) to substitute one Key Individual for another performing a particular Licensed Function in the Authorised Market Institution,

      must pay to the DFSA an application fee of $500 for each Key Individual for whom it is seeking authorisation; to amend the scope of his authorisation; or to substitute as a Key Individual (as the case may be).

      Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.7.2 Guidance

        Rules 2.7.1 and 2.7.2 apply if a Person is al licensed by the DFSA and applies to add or change an Authorised Individual or Key Individual. A fee is not payable for an application for Authorised Individual or Key Individual status if the application is made at the same time as an initial application for a Licence.

        Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]