RPP 4-4-3

GEN section 11.12 sets out various requirements relating to the appointment of an independent expert. In particular, it is noted that:

(a) the DFSA will give written notification to the Authorised Person concerning the purpose of the proposed report, the scope, the timetable for completion and any other relevant matters;
(b) the independent expert is required to be appointed by the Authorised Person and be nominated or approved by the DFSA;
(c) an Authorised Person is required to include specific requirements in a contract with an independent expert;
(d) an Authorised Person is required to ensure it provides all assistance that the independent expert may reasonably require and ensure that the independent expert co-operates with the DFSA; and
(e) an Authorised Person is required to pay for the services of the independent expert.
Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition