GEN 11.4 GEN 11.4 Withdrawal of a Licence at an Authorised Firm's requestDerived from Notice of Amendments to Legislation April 2011 [VER27/02-11]
GEN 11.4.1 GEN 11.4.1
Authorised Firmother than a Representative Officeseeking to have its Licencewithdrawn must submit a request in writing stating:(a) the reasons for the request;(b) that it has ceased or will cease to carry on Financial Servicesin or from the DIFC;(c) the date on which it ceased or will cease to carry on Financial Servicesin or from the DIFC;(d) that it has discharged, or will discharge, all obligations owed to its customers in respect of whom the Authorised Firmhas carried on, or will cease to carry on, Financial Servicesin or from the DIFC; and(e) if it is providing Trust Services, that it has made appropriate arrangements for the transfer of business to a new Trust Service Providerand the appointment, where necessary, of new trustees.
GEN 11.4.1 Guidance
When considering a withdrawal of a
Licence, the DFSAtakes into account a number of matters including those outlined in the RPP Sourcebook.Derived from Notice of Amendments to Legislation April 2011 [VER27/02-11]