GENE 1.2.1 Application of the principles

(1) The principles in this Part apply to an authorised firm in relation to its conduct of regulated activities in or from the QFC.
(2) The principles also apply to the activities of such a firm carried on outside the QFC, if the activities relate to regulated activities carried on by the firm in or from the QFC and are capable of having an effect on:
(a) confidence in the financial system operating in or from the QFC;
(b) the firm's ability to comply with the Regulatory Authority's requirements as to financial resources; or
(c) the firm's fitness and propriety.
(3) When the Regulatory Authority is considering the fitness and propriety of an authorised firm, it may take into account whether or not the other members of its group act in accordance with the principles in this Part.
Inserted by QFCRA RM/2014-3 (as from 1st January 2015)