Financial Services Regulations

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QFC Reg No 1 – Financial Services Regulations
Enactment Notice
Part 1:
Application, Commencement and Interpretation
Article 1 - Citation
Article 2 - Application
Article 3 - Commencement
Article 4 - Language
Article 5 - Interpretation
Part 2:
Introduction
Article 6 - Interrelation with QFC
Article 7 - The Regulatory Authority
Article 8 - The Appeals Body
Article 9 - The Tribunal
Part 3:
The Regulatory Authority
Article 10 - Background
Article 11 - Management and constitution
Article 12 - Objectives
Article 13 - Principles of a Good Regulation
Article 14 - Conflicts
Article 15 - Powers to issue Rules
Article 16 - Waiver or modification of Rules
Article 17 - Guidance
Article 18 - Public records
Article 19 - Confidentiality
Article 20 - International relations and co-operation
Article 21 - Powers relating to other Regulations
Part 4:
Regulated Activities
Article 22 - Background
Article 23 - Regulated Activities
Article 24 - Regulated Activities in respect of retail customers
Article 25 - Activities carried on by way of business
Article 26 - Activities conducted in or from the QFC
Part 5:
Authorisation Requirements and Process
Article 27 - Application
Article 28 - Form and content of Application
Article 29 - Grant of Authorisation, variation or withdrawal and rejection of an Application
Article 30 - Status of Authorisation
Article 31 - Own initiative action by the Regulatory Authority
Article 32 - Right to refer matters to the Appeals Body
Article 33 - Enforceability of agreements
Part 6:
Controllers
Article 34 - Scope of application
Article 35 - Approval of Regulatory Authority
Article 36 - Obligation to notify the Regulatory Authority
Article 37 - Acquiring and changing control
Article 38 - Decision of the Regulatory Authority
Article 39 - Improperly acquired shares
Article 40 - Annual reporting of Persons having control over an Authorised Firm
Part 7:
Individuals and Controlled Functions
Article 41 - Approval of Persons performing Controlled Functions
Article 42 - Form and content of Application
Article 43 - Grant of approval or variation
Article 44 - Status of Approval
Article 45 - Misconduct
Article 46 - Own initiative action by the Regulatory Authority
Article 47 - Right to refer matters to the Appeals Body
Part 8:
Supervision and Investigations
Article 48 - Powers to obtain documents and information
Article 49 - Reports
Article 50 - Appointment of Investigators
Article 51 - Investigation of Companies, LLPs and branches
Article 52 - Investigations - duties and powers
Article 53 - Admissibility
Article 54 - The role of the Tribunal in investigations
Article 55 - Self incrimination
Article 56 - Protected Items
Article 57 - Obstruction of the Regulatory Authority
Part 9:
Disciplinary and Enforcement Powers
Article 58 - Public censure
Article 59 - Financial penalties
Article 60 - Appointment of managers
Article 61 - Undertakings
Article 62 - Prohibitions and restrictions
Article 63 - Injunctions
Article 64 - Restitution orders
Article 65 - Civil proceedings
Article 66 - Appeals
Article 67 - Power of Regulatory Authority to intervene in any proceedings
Article 68 - Effect of provisions
Article 69 - Procedural irregularities
Part 10:
Enforcement Procedure
Article 70 - Right to make written representations
Article 71 - Decision Notices
Article 72 - Implementation of a Decision Notice
Article 73 - Discontinuance of proceedings
Article 74 - Publishing Information
Article 75 - Publication of statements
Article 76 - Third party rights
Article 77 - Access to Regulatory Authority material
Article 78 - Procedure in relation to Decision Notices
Article 79 - Policy in relation to penalties
Part 11:
Financial Communications
Article 80 - Regulatory Authority's powers to make Rules in relation to Financial Communications.
Article 81 - Prohibition on issue of Financial Promotions other than by Authorised Firms.
Part 12:
Market Abuse
Article 82 - Abusive Conduct
Article 83 - Rules relating to Market Abuse
Part 13:
Contraventions
Article 84 - Contravention of Relevant Requirements
Article 85 - Involvement in contraventions
Part 14:
Complaints and Compensation
Article 86 - Complaints
Article 87 - Compensation
Part 15:
Appointment of Auditors and Actuaries
Article 88 - Appointment of Auditors and Actuaries
Article 89 - Disclosure of Information
Article 90 - Rights and obligations affecting Auditors and Actuaries
Article 91 - Resignation of Auditors and Actuaries
Article 92 - Contravention
Part 16:
Control of Business Transfers
Article 93 - Application
Article 94 - Business Transfers
Article 95 - Requirement for order sanctioning Relevant Schemes
Article 96 - Application for an order from the Tribunal
Article 97 - Reports
Article 98 - Publicity
Article 99 - Rights to participate in proceedings
Article 100 - Sanction of a Relevant Scheme by the Tribunal
Article 101 - Effect of order sanctioning a Relevant Scheme
Article 102 - Independent Report
Article 103 - Modification
Part 17:
Investment Funds
Article 104 - Registration of Collective Investment Funds
Article 105 - Power to Make Directions in respect of Collective Investment Funds
Part 18:
Miscellaneous
Article 106 - Gaming Contracts
Article 107 - Language of Communication and Documentation
Article 108 - Notices and other Information provided to the Regulatory Authority
Part 19:
Interpretation and Definitions
Article 109 - Interpretation
Article 110 - Definitions
Schedule 1:
The Regulatory Authority
Schedule 2:
Other Duties, Functions and Powers Conferred on the Regulatory Authority
Schedule 3:
Regulated Activities and Permitted Activities
Part 1: Exemptions
Part 2: Specified Activities
Part 3: Specified Products
Part 4: Activities in the QFC under the QFC Law
Schedule 4:
The Appeals Body