Back Custom print Link Text Only Rich Text Print

Entire Section

  • RPP 4-5 RPP 4-5 Power to Restrict an Authorised Person's Business or Property

    • RPP 4-5-1

      The DFSA has a power under Article 75 to impose prohibitions or restrictions on an Authorised Person's business. This includes prohibiting an Authorised Person from entering into specific types of transactions, from soliciting business from specific types of persons or from carrying on business in a specific manner. The DFSA may also require an Authorised Person to carry on business in, and only in, a specified manner. The DFSA may also prohibit an Authorised Person from using a particular name or description.2

      2 Article 75(1)(a)(iv).

      Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition
      Amended (Made 21st August 2014). August 2014 Edition

    • RPP 4-5-2

      Under Article 76, the DFSA is also empowered to prohibit or require an Authorised Person to deal with any relevant property in a certain manner.3 The terms "dealing" and "relevant property" are defined in Article 76 as follows:

      (a) "dealing" in relation to property includes the maintaining, holding, disposing and transferring of property; and
      (b) "relevant property" in relation to an Authorised Person means:
      (i) any property held by the person on behalf of any of the clients of the person, or held by any other person on behalf of or to the order of the person; or
      (ii) any other property which the DFSA reasonably believes to be owned or controlled by the person.

      3Article 76.

      Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition
      Amended (Made 21st August 2014). August 2014 Edition

    • RPP 4-5-3

      In determining whether to exercise its Article 75 and 76 powers, the DFSA will take into account the circumstances set out in GEN Rule 11.13.1 (a) to (m).

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