In respect of the
Controllersof an Authorised Person, the DFSA may, taking into account the nature, scale and complexity of the firm's business and organisation, have regard to:(a) the background, history and principal activities of the Authorised Person's Controllers, including that of the Controller's Directors, Partnersor other officers associated with the Authorised Person, and the degree of influence that they are, or may be, able to exert over the Authorised Personand/or its activities;(b) where the Controllerwill exert significant management influence over the Authorised Person, the reputation and experience of the Controlleror any individual within the Controller;c) the financial strength of a Controllerand its implications for the Authorised Person'sability to ensure the sound and prudent management of its affairs, in particular where such a Controlleragrees to contribute any funds or other financial support such as a guarantee or a debt subordination agreement in favour of the Authorised Person; and(d) whether the Authorised Personis subject to any adverse effect or considerations arising from the country or countries of incorporation, establishment or operations of a Controller. In considering such matters, the DFSA may have regard to, among other things, the type and level of regulatory oversight which the Controlleris subject to in the relevant country or countries and the regulatory infrastructure and adherence to internationally held conventions and standards that the DFSA may have adopted in its Rules.
Where the DFSA has any concerns relating to the fitness and propriety of an applicant for a licence stemming from a Controller of such a person, the DFSA may consider imposing licence conditions designed to address such concerns. For example, the DFSA may impose, in the case of a start-up, a licence condition that there should be shareholder agreement to resort to an effective shareholder dispute resolution mechanism.