DFSAlicenses an Authorised Firm, it takes into consideration the relationship with any wider Groupto which the firm may belong or with other Personsclosely linked to it. The DFSAmay also take into account lead or consolidated supervision to which an Authorised Firmor its Groupmay be subject in another jurisdiction.Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]
Authorised Firmis expected to provide information as required or reasonably requested under legislation applicable in the DIFCrelating to the Authorised Firmand, where applicable, its consolidated or lead regulatory arrangements. This information may include prudential information, reports on systems and controls relating to an Authorised Firm's Group, internal and external audit reports, details of disciplinary proceedings or any matters which may have financial consequences, reputational impact or pose any significant risk to the DIFCor to the Authorised Firmand the group-wide corporate governance practices and policies and the remuneration structure and strategies adopted. This information may initially be taken into account as part of DFSA'sfit and proper test as set out in section 2.2 and may subsequently be utilised in the supervision of the Authorised Firm. Further Rulesand Guidancewith regard to obtaining information from an Authorised Firm'slead regulator are set out in GEN Rule 11.1.5.
DFSAhas an interest in the relationship of an Authorised Firmwith other regulators, particularly in order to determine the level of reliance the DFSAmay place on a regulator in another jurisdiction concerning any lead supervision arrangements. Depending on the legal structure of an Authorised Firmand the relationship of the DFSAwith the regulator in question, the DFSAmay place appropriate reliance on the supervision undertaken by this regulator.Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]