GENE 10.3.1 Guidance

1. A supplementary fee may be levied by the Regulatory Authority because it expects that certain applications will require more intensive scrutiny than others. For example, where the entity is a branch from a jurisdiction where there are not or are not expected to be in place arrangements for cooperation between the Regulatory Authority and the relevant regulators in that jurisdiction. Equally, where the entity is incorporated in the QFC, a full analysis of the prudential and systems arrangements will be required.
2. A supplementary fee may also be levied by the Regulatory Authority in cases where the ongoing supervision of the authorised firm appears to the Regulatory Authority to be likely to cause it to incur substantial additional costs.
Amended by QFCRA RM/2014-1 (as from 1st February 2014).