RPP 4-7-1

The DFSA may exercise its powers under Article 50(1) on its own initiative to withdraw an authorisation under, or an endorsement on, a Licence to carry on one or more Financial Services where:

(a) the Authorised Person is or has been in breach of one or more restrictions or conditions applicable to its Licence or relating to a License endorsement;
(b) the Authorised Person is in breach of the Regulatory Law, Rules or other legislation administered by the DFSA;
(c) the Authorised Person is no longer fit and proper to carry on a Financial Service for which it has an authorisation or an activity for which it has a Licence endorsement;
(d) the Authorised Person has failed for a period of at least twelve consecutive months to carry on one or more Financial Services for which it is authorised under a Licence or an activity for which it has a Licence Endorsement; or
(e) the DFSA considers that the exercise of the power is necessary or desirable in the pursuit of its objectives.
Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition
Amended (Made 21st August 2014). August 2014 Edition