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FER 7.1.3 Guidance

1. This section applies to returns or reports required to be provided to the DFSA under the Rulebook by a due date or within a specified period, including, without limitation, returns or reports required to be provided under GEN, AML, PIB, PIN, REC and AUD. It does not apply to a report that the DFSA requires a Person to provide under a discretionary power e.g. an independent expert's report.
2. The fees in this section are aimed at allowing the DFSA to recover some of its costs in following up failures to submit returns or reports.
3. Multiple fees may be payable by a Person under this section if the Person fails to provide more than one return or report on time. However, the amount of late fees is capped at $4,000 for returns or reports due in a single calendar year.
4. If a return or a report is not submitted by the date on which it is due, the Person is in breach of a Rule and, in addition to being liable to pay the fee under this section, the DFSA is entitled to take action including, but not limited to, taking steps to withdraw its authorisation or registration.
Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]