Section 3.2 provides additional information in relation to
DFSA'sapproach to the supervision of an Authorised Firm. Where relevant, some of these requirements may apply to a Representative Office.
In supervising an
Authorised Firm, the DFSAexpects an Authorised Firmto comply with a number of high level principles in relation to its activities.
Authorised Firm, other than a Representative Office, must comply with the twelve principles set out in section 4.2 of the GEN module. In brief, these are:(a) Principle 1 — Integrity;(b) Principle 2 — Due skill, care and diligence;(c) Principle 3 — Management, systems and controls;(d) Principle 4 — Resources;(e) Principle 5 — Market Conduct;(f) Principle 6 — Information and Interests;(g) Principle 7 — Conflicts of Interest;(h) Principle 8 — Suitability;(i) Principle 9 — Customer assets and money;(j) Principle 10 — Relations with regulators;(k) Principle 11 — Compliance with high standards of corporate governance; and(l) Principle 12 — Remuneration practices.