RPP 2-2-11

In respect of the ownership and Group structure of an Authorised Person, the DFSA may have regard to:

(a) the Authorised Person's position within its Group, including any other relationships that may exist between the Authorised Person's affiliates, Controllers, Associates or other Persons that may be considered a Close Link (see paragraph 2-2-12 for considerations relating to Controllers and paragraph 2-2-7 for considerations relating to Close Links);
(b) the financial strength of a Controller and other members of the Group and its implications for the Authorised Person; and
(c) whether the Group has a structure which makes it possible to:
(i) exercise effective supervision;
(ii) exchange information among regulators who supervise Group members; and
(iii) determine the allocation of responsibility among the relevant regulators;
(d) any information provided by other regulators or third parties in relation to the Authorised Person or any entity within its Group;
(e) whether the Authorised Person or its Group is subject to any adverse effect or considerations arising from a country or countries of incorporation , establishment and operations of any member of its Group. In considering such matters, the DFSA may also have regard to the type and level of regulatory oversight in the relevant country or countries of the Group members, the regulatory infrastructure and adherence to internationally held conventions and standards that the DFSA may have adopted in its Rules.
Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]
Amended by Notice of Updates (Made 20th December 2012). December 2012 Edition