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  • RPP 4-6 RPP 4-6 Power to Impose Conditions and Restrictions on an Authorised Person's Licence

    • RPP 4-6-1

      Pursuant to Article 49 of the Regulatory Law 2004, the DFSA may at any time by written notice to an Authorised Person on its own initiative, or at the request of an Authorised Person:

      (a) impose conditions and restrictions or additional conditions and restrictions on a Licence; and
      (b) vary or withdraw conditions and restrictions imposed on a Licence.4

      4Article 49(1) of the Regulatory Law 2004

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

    • RPP 4-6-2

      In determining whether to exercise its Article 49 power, the DFSA will take into account the circumstances including, but not limited to, the following:

      (a) where the Authorised Person's resources (including financial resources as well as human resources) are inadequate for the scale or type of activity which the firm is licensed to undertake;
      (b) where the Authorised Person has not conducted its business in compliance with the Laws and Rules;
      (c) where the Authorised Person has conducted its business in such a way that it has not ensured full compliance with applicable money laundering and counter terrorism legislation; or
      (d) where the DFSA has some concern about the fitness and propriety of the Authorised Person, but not such as to warrant the withdrawal of its Licence.
      Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition