RPP 4-5 RPP 4-5 Power to Restrict an Authorised Person's Business or Property
The DFSA has a power under Article 75 to impose restrictions on an
Authorised Person'sbusiness. This includes prohibiting an Authorised Personfrom entering into specific types of transactions, from soliciting business from specific types of persons or from carrying on business in a specific manner. The DFSA may also require an Authorised Personto carry on business in, and only in, a specified manner.
Pursuant to Article 76, the DFSA is also empowered to prohibit or require an
Authorised Personto deal with any relevant property in a certain manner.3 The terms "dealing" and "relevant property" are defined in Article 76 as follows:(a) "dealing" in relation to property includes the maintaining, holding, disposing and transferring of property; and(b) "relevant property" in relation to an Authorised Personmeans:(i) any property held by the person, acting within the capacity for which it holds a Licence, on behalf of any of the clients of the person, or held by any other person on behalf of or to the order of the person acting within such capacity; or(ii) any other property which the DFSA reasonably believes to be owned or controlled by the person.
3Article 76 of the Regulatory Law 2004