FER 6 FER 6 Fees for Other Supervisory Events
Application to approve change of control
Personapplying for written approval to acquire or to increase its level of control in a Domestic Firmmust pay to the DFSAan application fee of:(a) $5,000 if the application is complex; or(b) $3,000 in any other case.
Personapplying for written approval to become the Controllerof or to increase its level of control in an Authorised Market Institutionmust pay to the DFSAan application fee of:(a) $5,000 if the application is complex; or(b) $3,000 in any other case.
FER 6.1.3(a) is from a jurisdiction where there is no bilateral memorandum of understanding in place between the
DFSAand the relevant Financial Services Regulatorin that jurisdiction;(b) has no experience of operating or controlling the type of business to which the application relates;(c) has previously contravened any legislation or been the subject of enforcement, supervisory or civil action by a government body or agency, the DFSAor any other Financial Services Regulator;(d) is a Controllerof another Authorised Personin the DIFC and approval of the application may give rise to a material conflict of interest; or(e) proposes, in connection with the acquisition or change of control, to change the business model, business activities or senior management of the Authorised Person.
Request to withdraw a Licence
Authorised Personapplying to have its Licencewithdrawn must pay to the DFSAan application fee of $5,000 if, when it applies, the Authorised Person:(a) Provides Custody;(b) has Depositsthat must be repaid;(c) holds or controls Client Assetsor Insurance Monies;(d) has a significant liability to a creditor;(e) is the subject of a civil claim made by a Client; or(f) is the subject of enforcement, supervisory or civil proceedings by the DFSAor a Financial Services Regulator.
Opening a branch or subsidiary in another jurisdiction
FER 6.1.5(1) A
Domestic Firmmust pay to the DFSAthe fee specified in (2) if it notifies the DFSAof either:
(a) the proposed establishment of a branch office or subsidiary outside the DIFC; or(b) the proposed
Major Acquisitionof a Body Corporateoutside the DIFC.(2) The notification fee under (1) is an amount equal to 50% of the fee that applies under Rule 3.2.1(2)(a).