Entire Section

  • RPP 4-4 RPP 4-4 Power to Require a Report

    • RPP 4-4-1

      The DFSA may require an Authorised Person to provide it with a report from an independent expert on specified matters under Article 74 of the Regulatory Law 2004.

      Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition

    • RPP 4-4-2

      There are a variety of circumstances where the DFSA may consider it appropriate to require the production of a report. These circumstances include, but are not limited to:

      (a) where the DFSA has concerns as to the adequacy of systems and controls (such as compliance, internal audit, anti money laundering, risk management and record keeping);
      (b) where the DFSA seeks verification of information submitted to it; or
      (c) where remedial action is required to ensure the Authorised Person complies with DFSA Laws and Rules.
      Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition

    • RPP 4-4-3

      GEN section 11.12 sets out various requirements relating to the appointment of an independent expert. In particular, it is noted that:

      (a) the DFSA will give written notification to the Authorised Person concerning the purpose of the proposed report, the scope, the timetable for completion and any other relevant matters;
      (b) the independent expert is required to be appointed by the Authorised Person and be nominated or approved by the DFSA;
      (c) an Authorised Person is required to include specific requirements in a contract with an independent expert;
      (d) an Authorised Person is required to ensure it provides all assistance that the independent expert may reasonably require and ensure that the independent expert co-operates with the DFSA; and
      (e) an Authorised Person is required to pay for the services of the independent expert.
      Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition

    • RPP 4-4-4

      The DFSA notes that any information given or documents produced under Article 74 are admissible in evidence in administrative and civil proceedings, provided that any such information or documents also comply with any requirements relating to the admissibility of evidence in such proceedings.

      Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition