FER 6.1.3

An application is 'complex' for the purposes of Rule 6.1.1 or 6.1.2 if the Person who proposes to acquire, become a Controller of, or increase its level of control in, the relevant Authorised Person:

(a) is from a jurisdiction where there is no bilateral memorandum of understanding in place between the DFSA and the relevant Financial Services Regulator in 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 DFSA or any other Financial Services Regulator;
(d) is a Controller of another Authorised Person in 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.
Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]