GEN 11.10.7
An
(a) the Authorised Person's failure to satisfy the fit and proper requirements;
(b) any matter which could have a significant adverse effect on the Authorised Person's reputation;
(c) any matter in relation to the Authorised Person which could result in serious adverse financial consequences to the financial system or to other firms;
(d) a significant breach of a Rule by the Authorised Person or any of its Employees;
(e) a breach by the Authorised Person or any of its Employees of any requirement imposed by any applicable law in respect of the Authorised Person or any of its Employees ;
(f) subject to Rule 11.10.8, any proposed restructuring, merger, acquisition, reorganisation or business expansion which could have a significant impact on the Authorised Person's risk profile or resources;
(g) any significant failure in the Authorised Person's systems or controls, including a failure reported to the Authorised Person by the firm's auditor;
(h) any action that would result in a material change in the capital adequacy or solvency of the Authorised Firm ; or
(i) non-compliance with Rules due to an emergency outside the Authorised Person's control and the steps being taken by the Authorised Person .
Derived from Notice of Amendments to Legislation April 2011 [VER27/02-11]
[Amended] DFSA RMI288/2020 (Made 16th December 2020). [VER50/02-21]
[Amended] DFSA RMI288/2020 (Made 16th December 2020). [VER50/02-21]