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Jan 1 2018 onwards

FER 6.1.3



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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

An application is 'complex' for the purposes of Rule 6.1.1 or 6.1.2 if the PersonG who proposes to acquire, become a ControllerG of, or increase its level of control in, the relevant Authorised PersonG :

(a) is from a jurisdiction where there is no bilateral memorandum of understanding in place between the DFSAG and the relevant Financial Services RegulatorG in that jurisdiction;
(b) has no experience of operating or controlling the type of business to which the application relates;
(c) has previously contravened any legislation or been the subject of enforcement, supervisory or civil action by a government body or agency, the DFSAG or any other Financial Services RegulatorG ;
(d) is a ControllerG of another Authorised PersonG in the DIFC and approval of the application may give rise to a material conflict of interest; or
(e) proposes, in connection with the acquisition or change of control, to change the business model, business activities or senior management of the Authorised PersonG .
Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]