Home   Browse contents   View updates   Search  
     Quick search
Go
   

Back Rich text Print

You need the Flash plugin.

Download Macromedia Flash Player



  • REP 5 Regulatory Processes

    • REP 5.1 Notifications

      • REP 5.1.1

        A Representative Office must notify the DFSA as soon as reasonably practical of any change in its:

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

      • REP 5.1.2

        A Representative Office must notify the DFSA as soon as reasonably practical of:

        (a) any breach of a Rule or of a provision of DFSA-administered legislation by the Representative Office; and
        (b) any materially adverse information which would on reasonable grounds be considered likely to affect the fitness and propriety of the Representative Office or Principal Representative.
        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 DFSA, a Representative Office must provide the DFSA with information that it or another member of its Group has provided to a Financial Services Regulator.

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

        • REP 5.2.1 Guidance

          1. Under Article 39 the DFSA may exercise its powers for the purpose of assisting other regulators or agencies.
          2. The DFSA 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 Office must notify the DFSA immediately if it becomes aware, or has information that reasonably suggests:
        (a) that it has or may have provided the DFSA with information which was or may have been false, misleading, incomplete or inaccurate; or
        (b) that information previously provided to the DFSA 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 Office must take reasonable steps to ensure that all information that it provides to the DFSA in accordance with any legislation applicable in the DIFC 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 DFSA would reasonably expect to be notified.
        [Added] RM161/2015 (Made 9th December 2015). [VER6/02-16]