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52. Suspension of Authorisation, Endorsement or Licence

(1) The DFSA may suspend for a period not exceeding 12 months:
(a) an authorisation in relation to one or more Financial Services for which an Authorised Person is authorised under its Licence;
(b) a Licence Endorsement; or
(c) a Licence of an Authorised Person.
(2) The DFSA may act under this Article on its own initiative or at the request of an Authorised Person.
(3) The DFSA may act under this Article on its own initiative if it has reasonable grounds to believe that:
(a) the Authorised Person is:
(i) in breach of, or has been in breach of, one or more restrictions or conditions applicable to its Licence or a Licence Endorsement;
(ii) in breach of, or has been in breach of, the Law or Rules or other legislation administered by the DFSA; or
(iii) no longer fit and proper to carry on a Financial Service for which it has Authorisation under its Licence or an activity for which it holds a Licence Endorsement; and
(b) the exercise of the power is necessary or desirable in the interests of the DIFC.
(4) If the DFSA imposes a suspension under this Article it may provide that the Authorised Person may continue to carry on specified activities despite the suspension.
(5) The procedures in Schedule 3 apply to a decision of the DFSA under this Article.
(6) If the DFSA decides to exercise its power under this Article, the Authorised Person may refer the matter to the FMT for review.