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RPP 3-2-34

Past version: effective from 23/12/2012 - 14/02/2015
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A Person who proposes to become a Controller of a Domestic Firm or an existing Controller who proposes to increase the level of control which that Person has in a Domestic Firm beyond the threshold of 30% or 50% is required to obtain the DFSA's prior approval before doing so. The DFSA's assessment of a proposed acquisition or increase in control of a Domestic Firm is a review of such a firm's continued fitness and propriety and ability to conduct business soundly and prudently. Accordingly, the DFSA takes into account the considerations specified in paragraph 2-2-12 relating to Controllers when making such an assessment.

Added by Notice of Updates (Made 20th December 2012). December 2012 Edition