49. Appointment of Sponsors or Compliance Advisers
(1) The DFSA may require that a Reporting Entity appoint a sponsor, compliance adviser or other expert adviser on such terms and conditions as it considers appropriate.
(2) The DFSA may, by Rules, prescribe:
(a) the circumstances in which a Reporting Entity is required to appoint a sponsor, compliance adviser or other expert adviser;
(b) the requirements applicable to the Reporting Entity and a person appointed as a sponsor, compliance adviser or other expert adviser; and
(c) any other matter necessary to give effect to such appointments.
(3) The procedures in Schedule 3 to the Regulatory Law 2004 apply to a decision of the DFSA under Article 49(1).
(4) If the DFSA decides to exercise its power under Article 49(1), the Reporting Entity may refer the matter to the FMT for review.