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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Regulatory Law
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Rulebook Modules
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
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51. Withdrawing a Licence

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(1) The DFSA may withdraw a Licence of an Authorised Person where:
(a) as a consequence of withdrawal of authorisation in relation to one or more Financial Services under Article 50, the person is no longer authorised to carry on any Financial Service;
(b) the person is no longer fit and proper to hold a Licence;
(c) the person has failed either to remove a controller or to take such other action as required by the DFSA under Article 64; or
(d) the person asks the DFSA to withdraw the Licence.
(2) The procedures in Schedule 3 apply to a decision of the DFSA under this Article.
(3) If the DFSA decides to exercise its power under this Article, the Authorised Person may refer the matter to the FMT for review.