Restrictions and conditions
18. If the DFSA grants a
Licence to the Fintech Operator, it is likely to impose appropriate restrictions including, for example, restricting:
(a) the business that may be carried on under the
Licence to testing the specific Fintech product or service;
(b) the number and type of customers that may take part in the testing; and
(c) the period during which it may carry on testing.
19. The DFSA is also likely to impose conditions on the
Licence, for example, requiring the Fintech Operator:
(a) to comply with its Test Plan;
(b) to disclose in any communications that it is only authorised by the DFSA to test its product or service; and
(c) within a reasonable period after the test period ends, either to demonstrate it can comply fully with all regulatory requirements or to cease carrying on its activities.
Derived from DFSA GMI11/2017 (Made 24th May 2017) [VER39/05-17]