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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Sourcebook Modules
Regulatory Policy and Process Sourcebook (RPP) February 2017 Edition
RPP 4 Supervisory and Enforcement Powers
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  • RPP 4-6 Power to Impose Conditions and Restrictions on an Authorised Person's Licence or Endorsement

    • RPP 4-6-1

      Under Article 49, the DFSAG may at any time by written notice to an Authorised PersonG on its own initiative, or at the request of an Authorised PersonG :

      (a) impose conditions and restrictions or additional conditions and restrictions on a LicenceG or in relation to a LicenseG endorsement; and
      (b) vary or withdraw conditions and restrictions imposed on a LicenceG or in relation to a LicenseG endorsement.4

      4 Article 49(1) and (2).

      Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition
      Amended (Made 21st August 2014). August 2014 Edition

    • RPP 4-6-2

      In determining whether to exercise its Article 49 power, the DFSA will take into account the circumstances including, but not limited to, the following:

      (a) where the Authorised Person'sG resources (including financial resources as well as human resources) are inadequate for the scale or type of activity which the firm is licensed to undertake;
      (b) where the Authorised PersonG has not conducted its business in compliance with the Laws and Rules;
      (c) where the Authorised PersonG has conducted its business in such a way that it has not ensured full compliance with applicable money laundering and counter terrorism legislation; or
      (d) where the DFSA has some concern about the fitness and propriety of the Authorised PersonG , but not such as to warrant the withdrawal of its LicenceG .
      Derived from Notice of Updates (Made 20th December 2012). December 2012 Edition