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  • REP 5 Regulatory Processes

    • REP 5.1 Notifications

      • REP 5.1.1

        A Representative OfficeG must notify the DFSAG as soon as reasonably practical of any change in its:

        (a) name;
        (b) legal status;
        (c) Controller(s)G ; or
        (d) address.
        Derived from DFSA RM68/2009 (Made January 3rd 2010). [VER1/01-10]

      • REP 5.1.2

        A Representative OfficeG must notify the DFSAG as soon as reasonably practical of:

        (a) any breach of a RuleG or of a provision of DFSA-administered legislation by the Representative OfficeG ; and
        (b) any materially adverse information which would on reasonable grounds be considered likely to affect the fitness and propriety of the Representative OfficeG or Principal RepresentativeG .
        Derived from DFSA RM68/2009 (Made January 3rd 2010). [VER1/01-10]

    • REP 5.2 Lead Regulation

      • REP 5.2.1

        If requested by the DFSAG , a Representative OfficeG must provide the DFSAG with information that it or another member of its GroupG has provided to a Financial Services RegulatorG .

        Derived from DFSA RM68/2009 (Made January 3rd 2010). [VER1/01-10]

        • REP 5.2.1 Guidance

          1. Under Article 39 the DFSAG may exercise its powers for the purpose of assisting other regulators or agencies.
          2. The DFSAG may also delegate functions and powers to representatives of other regulators or agencies as prescribed in Article 40.
          Derived from DFSA RM68/2009 (Made January 3rd 2010). [VER1/01-10]

    • REP 5.3 Accuracy of Information

      • REP 5.3.2

        (1) A Representative OfficeG must notify the DFSAG immediately if it becomes aware, or has information that reasonably suggests:
        (a) that it has or may have provided the DFSAG with information which was or may have been false, misleading, incomplete or inaccurate; or
        (b) that information previously provided to the DFSAG has or may have changed in a material particular.
        (2) Subject to (3), the notification in (1) must include details of the information which is or may be false or misleading, incomplete or inaccurate, or has or may have changed and an explanation of why the information was or may have been provided and the correct information.
        (3) If the correct information in (2) cannot be submitted with the notification it must be submitted as soon as reasonably possible.
        [Added] RM161/2015 (Made 9th December 2015). [VER6/02-16]

      • REP 5.3.1

        A Representative OfficeG must take reasonable steps to ensure that all information that it provides to the DFSAG in accordance with any legislation applicable in the DIFCG is:

        (a) factually accurate or, in the case of estimates and judgements, fairly and properly based; and
        (b) complete, in that it should include anything of which the DFSAG would reasonably expect to be notified.
        [Added] RM161/2015 (Made 9th December 2015). [VER6/02-16]