Entire Section

  • RPP 5-4 RPP 5-4 Commencement of Investigations

    • Introduction

      • RPP 5-4-1

        Upon receipt of an internal or external referral, the allegation will be assessed to determine if there is a suspicion of a contravention of the Law. If a suspicion arises and it is appropriate and expedient, then the DFSA may commence an investigation.

        Added by Notice of Updates (Made 23rd November 2014). November 2014 Edition

      • RPP 5-4-2

        In determining whether to commence an investigation, the DFSA will consider a number of factors including, but not limited to:

        (a) the nature, seriousness and impact of the suspected contravention and whether the suspected contravention is on-going;
        (b) whether the suspected contravention affects, or has the potential to affect, the DFSA objectives;
        (c) whether those involved in the suspected contravention are likely to co-operate;
        (d) whether it is likely that the suspected contravention may be proven;
        (e) the disciplinary record and compliance history of the Person or Persons involved in the suspected contravention;
        (f) whether, if proven, a suitable remedy is available;
        (g) the extent to which another law enforcement agency or Financial Services Regulator can adequately address the matter and, if so, that body's attitude toward the matter;
        (h) the nature of any request for assistance made by another regulator or body under Article 39; and
        (i) whether any party who may have suffered some detriment as a result of the suspected contravention is able to take his own remedial action.
        Added by Notice of Updates (Made 23rd November 2014). November 2014 Edition

    • Investigation Determination

      • RPP 5-4-3

        Article 78 empowers the DFSA to conduct such investigations as it considers appropriate and expedient:

        (a) where it has reason to suspect that a contravention of the Law or the Rules is being or may have been committed; or
        (b) further to a request for assistance made under Article 39.
        Added by Notice of Updates (Made 23rd November 2014). November 2014 Edition

      • RPP 5-4-4

        Whether an investigation of a matter is appropriate and expedient is determined by reference to factors such as those set out in paragraph 5-4-2.

        Added by Notice of Updates (Made 23rd November 2014). November 2014 Edition

      • RPP 5-4-5

        Whether the DFSA has "reason to suspect" a contravention of the Law is a question which the DFSA will determine on the facts and circumstances, available at the time, of the determination.

        Added by Notice of Updates (Made 23rd November 2014). November 2014 Edition

      • RPP 5-4-6

        While the DFSA is not bound to disclose, to any party, that an investigation has commenced or is on-going or the basis upon which an investigation is commenced, it may notify a Person who is the subject of an investigation that an investigation has commenced, and the nature of the investigation.

        Added by Notice of Updates (Made 23rd November 2014). November 2014 Edition

      • RPP 5-4-7

        The DFSA will not make a notification referred to in 5-4-6 if to do so is likely to compromise or prejudice the investigation. The DFSA will not advise a Person of the conclusion of an investigation unless the Person has earlier been notified of its commencement.

        Added by Notice of Updates (Made 23rd November 2014). November 2014 Edition

      • RPP 5-4-8

        The decision to commence an investigation is not a decision that can be referred to the Financial Markets Tribunal for review.

        Added by Notice of Updates (Made 23rd November 2014). November 2014 Edition