GENE Part 2.3 GENE Part 2.3 Fitness and propriety
Editorial changes (as from 1st January 2016).
GENE 2.3.1 What Regulatory Authority will consider
In considering the fitness and propriety of an
applicantor authorised firm, the Regulatory Authority will consider:(a) the applicant'sor authorised firm's connection with its controllers as outlined in FSR and GENE chapter 8;(b) the applicant'sor authorised firm's close links with another person or connection with any other person including any person appearing to be, or likely to be in a contractual relationship with the applicantor authorised firm;(c) the nature of the regulated activitiesconcerned;(d) whether the applicant'sor authorised firm's affairs will be or are conducted and managed in a sound and prudent manner;(e) the location and jurisdiction of the applicantor authorised firm's head office and registered office and the location and jurisdiction of its parent entity;(f) the legal form that the applicantintends to adopt in light of the location of its offices and of the regulated activitiesconcerned; and(g) any other relevant matters including those contained in GENE Schedule 1. Amended by QFCRA RM/2015-3 and Editorial changes (as from 1st January 2016).