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10-8-3

Ordinarily, if the DFSA has concerns about an Authorised Person's name, trading name or business description, it will write to the person explaining its concerns about the particular name and will provide the firm with a period in which to respond to its concerns. If, following receipt of any response, the DFSA remains dissatisfied with the continued use of the particular name, the DFSA will write to the firm and ask the firm to agree to cease using the name. The DFSA will give the person a reasonable period of time in order to change their name. If the person does not agree to change their name or continues to use the name after the time allowed to change the name, the DFSA will use Article 75(1)(a)(iv) of the Regulatory Law in order to prohibit the use of the name. Where a person refuses to comply with an Article 75(1)(a)(iv) notice, the DFSA would generally seek to enforce the notice in the DIFC Court under Article 92 of the Regulatory Law.

Derived from Notice of Updates (Made 14th July 2015). July 2015 Edition