Entire Section

  • GEN 6.6 GEN 6.6 Close links

    • GEN 6.6.1 GEN 6.6.1

      (1) Where an Authorised Person or a Person who has submitted an application for authorisation to carry on one or more Financial Services has Close Links with another Person, the DFSA must be satisfied that those Close Links are not likely to prevent the effective supervision by the DFSA of the Authorised Person.
      (2) If requested by the DFSA the Authorised Person must submit a Close Links report or notification, in a form specified by the DFSA. This may be requested on an ad hoc or periodic basis.
      Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

      • GEN 6.6.1 Guidance

        1. Procedures for notification to the DFSA are set out in GEN section 6.10.
        2. Under the fit and proper test for Authorised Firms and the Licensing Requirements for Authorised Market Institutions, an Authorised Firm or Authorised Market Institution which does not satisfy the DFSA with respect of its Close Links will, on this point alone, not be considered fit and proper or able to satisfy the Licensing Requirements.

        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
        Amended in accordance with Notice of Amendments to Legislation April 2011 [VER27/02-11]
        [Amended] DFSA RM176/2016 (Made 19th June 2016) [VER37/08-16]