Entire Section

  • AMI 9.4.1 AMI 9.4.1

    An Authorised Market Institution must, where an individual ceases or is reasonably likely to cease to be a Key Individual of the Authorised Market Institution, give written notice to the DFSA of that event and take prompt action to replace the Key Individual who has ceased to perform the relevant functions.

    Derived from RM118/2013 [VER15/07-13]

    • AMI 9.4.1 Guidance

      1. An Authorised Market Institution must lodge with the DFSA the relevant applications for the approval of the proposed Key Individual in accordance with the requirements in section 3.3.
      2. An Authorised Market Institution should ensure that functions that are assigned to Key Individuals as per the definitions of those functions are carried out by the relevant Key Individuals or other individuals subject to appropriate oversight and control of the relevant Key Individuals.
      3. The DFSA does not need to be notified where minor changes are made to the responsibilities of a Key Individual, but where major changes in responsibilities are made, such as a significant re-alignment of responsibilities, then the DFSA should be notified with the appropriate information. Such changes may also require the DFSA prior approval if they are material changes. See section 4.3.
      Derived from RM118/2013 [VER15/07-13]