RPP 5-12-5

In determining whether to commence proceedings, the DFSA may take into account all relevant circumstances. It is not possible to provide an exhaustive list of the circumstances that may be taken into account, as they may depend on the facts of the particular matter. However, the following list indicates some of those matters that may be considered:

(a) the nature, seriousness and impact of the suspected contravention and whether the alleged contravention is ongoing;
(b) whether the conduct and contravention affects, or has the potential to affect, the DFSA objectives;
(c) whether any party who may have suffered some detriment as a result of the alleged contravention is able to take his own remedial action;
(d) in circumstances where more than one Person has suffered loss or damage:
(i) the number of those that have suffered loss or damage and the amount of loss or damage involved; and
(ii) whether it is convenient or possible for a class of aggrieved Persons to run a proceeding;
(e) the cost that the DFSA would incur in applying for or enforcing any order that it is successful in obtaining;
(f) whether the conduct in question can be adequately addressed by the use of other regulatory powers;
(g) whether there is information to suggest that the Person is or has been, involved in money laundering, terrorist financing or other form of financial crime or criminal conduct; and
(h) whether the DFSA has a reasonable chance of success in the relevant proceedings.
Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition