(1) This section applies to an
Authorised Firm in Category 1, 2, 3A or 5.
DFSA may, subject to (3) and (4), at any time by written notice to an Authorised Firm:
(a) impose an Individual
Capital Requirement; or
(b) vary or withdraw an Individual
DFSA may act under (2) on its own initiative where the DFSA forms the view that the firm's Capital Requirement is insufficient to address adequately all its risks.
DFSA will, in addition to prescribing an Individual Capital Requirement, also specify in the notice the types and amounts of Capital Resources required to meet the Individual Capital Requirement.
(5) The procedures in Schedule 3 to the Regulatory Law apply to a decision of the
DFSA under (2) made after a Licence has been granted.
(6) If the
DFSA decides to exercise its power under (2) after a Licence has been granted, the Authorised Firm may refer the matter to the FMT for review.