Application forms and notices (afn) – aut- core


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dfsa

APPLICATION FORMS AND NOTICES (AFN) – AUT- CORE

For DFSA use only


     




Form AUT - CORE
Applying for Authorisation
Core Information form

This form must be submitted by all applicants applying for a Licence to carry on one or more Financial Services, as defined in the GEN Module of the DFSA Rulebook, unless the Financial Service you propose to carry on is limited to either acting as a Fund Manager of an Exempt Fund1, Operating a Representative Office2 or Operating a Credit Rating Agency3.

Name & Prudential Category4 of Applicant Firm


     

     




Before you start to complete this form please note the following:


  1. The Notes for Applicants (AUT-NOTES) contains information that may assist you in completing this form. Please refer to the section entitled “Core Information form” in the notes. Each note is linked to a specific question in this form via a referenced number.




  1. Please note that in addition to this form, you are likely to be required to complete other supplementary forms relevant to your proposed Financial Services activities.




  1. If you require more space please attach additional information as appendices, making clear which question the information refers to.



SECTION 1: DECLARATIONS
Declaration by the applicant


  1. I declare that, to the best of my knowledge and belief, having made due enquiry, the information given in this form, the supplements and documents attached, as well as any applicable supporting documents, is complete and correct. I understand that it is an offence under Article 66 of the Regulatory Law 2004 to provide to the DFSA any information which is false, misleading or deceptive or to conceal information where the concealment of such information is likely to mislead or deceive the DFSA.




  1. I declare my understanding that the DFSA may request more detailed information (including but not limited to, personal, educational, employment and financial information) should it be deemed necessary to adequately assess the fitness and propriety of the firm or any person connected to the firm. I consent to the DFSA contacting any previous employers, educational institutions, professional organisations or any other organisation, to verify any information contained in this form.




  1. I confirm that I have the authority to make this application, to declare as specified above and sign this form for, or on behalf of, the applicant. I also confirm that I have the authority to give the consent specified above.


4. For the purposes of complying with DIFC Data Protection Law 2007, I understand that any Personal Data provided to the DFSA will be used to discharge its regulatory functions under the Regulatory Law 2004 and other relevant legislation and may be disclosed to third parties for those purposes.


Authorised signatory*




Date

     




Name

     




Position/title*

     


*Please explain the basis of your authority for signing e.g. Board Member, Senior Executive, Partner, proposed SEO.

SECTION 2: REGULATORY BUSINESS PLAN
You are expected to submit a Regulatory Business Plan (“RBP”) with this form.


  • Please refer to Part 2 of AUT-NOTES which sets out what you should include in a RBP*.

  • Please attach your RBP and refer to it as appropriate in answering questions within this form.


*The RBP should include, but not be limited to, the following:


  • A clear analysis of your business model, the Financial Services activities the firm wishes to undertake (setting out exactly what it will be doing within each activity), its products and its customers.

  • Your controls, processes, procedures, governance and Management Information Systems that relate to your business model and risks involved in that business model.

  • Financial projections and the underlying assumptions of those projections.

  • Details of staff (including all key personnel such as your Chairman, your SEO, your Chief Risk Officer, Compliance Officers, etc, as appropriate) and your Remuneration Policy (including the incentive plans and bonus structures, if applicable).

  • An inventory of relevant risks and their mitigants, and an analysis of potential conflicts of interest (how they will be managed, monitored and recorded).


SECTION 3: GENERAL INFORMATION


  1. Full name of the firm applying for authorisation together with any proposed Trading Name(s). (Please ensure that all names are consistent with the DFSA’s naming policy as set out in Chapter 10 of the Regulatory Policy and Process Sourcebook (“RPP”), Chapter 10).

     

  1. Legal nature of the applicant. (Note that an LLC entity is not permitted to carry out regulated activities).

     

  1. Are you a subsidiary / new entity (i.e. a DIFC entity), or a branch (i.e. a non-DIFC / foreign recognised) entity?

     

  1. Please provide details of the date and place of incorporation and Financial year end (dd/mm) of both your immediate and ultimate corporate Controllers.

     

  1. Are there any existing entities in the DIFC to which the applicant firm is related5? If so, please provide full details.

     

  1. Does the applicant firm or a Controlling Entity have a long term bond rating? If so, please provide full details, including the rating agency and date the rating was issued.

     

  1. Are you a start-up entity? (Please see definition and explanation of DFSA approach at RPP 2.5).

Yes  No 

  1. Are you, your parent or your head office regulated? Yes  No 


If yes, please provide contact details of the regulator responsible for the authorisation and ongoing supervision of you, your Parent or your head office, including:

  • specific supervisor name:      

  • email address:      

  • telephone number:      

  • postal address:      

Contact details


  1. Please provide the names of:




    • the contact person for all matters relating to this application, including telephone, fax, e-mail and postal address;

     

    • the firm’s Chairman (for a start-up firm), or parent company / head office Chairman for subsidiaries and branches, including telephone, fax, e-mail and postal address. This information might not be used during the application process, but is required for longer-term communication purposes.

     

  1. Name and contact details of professional adviser(s) assisting with the application, if any.


Please explain the precise scope of the service(s) being provided by each professional adviser. For example:


    • who is responsible for the preparation of the various compliance, AML/CTF/Sanctions and risk manuals, policies, procedures and related documentation?

     

    • who provided any legal opinion(s) (if applicable)?

     

    • who prepared the financial projections?

     

  1. Would you like us to copy in your adviser on any correspondence? Yes  No 

If so, please state precisely to whom our correspondence should be addressed.

     

  1. Registered and current / proposed business address for the DIFC operation, if known.

     

  1. Your head office address (if different to CF12).

     

  1. List all applicable websites.

     


Controllers and source of funding


  1. Please identify all your Controllers and ultimate beneficial owners (“UBOs”). Please provide the name, date of birth and a passport number (and a copy where available) for each non-corporate Controller and for each of the board members of all corporate Controllers.

     

If there are trust vehicles and/or other corporate entities in the line of ownership please provide full details, including (but not limited to) UBOs, directors, trustees and beneficiaries.

     

  1. For DIFC companies please explain who, or what entity, will provide the initial capital. Please be specific and include, at a minimum:




    • for corporate Controllers – most recent audited financial statements, and if these are not available please explain why, and submit latest management accounts;

     

    • if the applicant is a member of a group, the latest group consolidated audited financial statements;

     

    • for non-corporate Controllers – full details of origin and source of funds, with supporting evidence.

     

SECTION 4: FINANCIAL SERVICE ACTIVITIES


  1. Please complete the matrix below indicating the Financial Services you propose to undertake in respect to each Investment or financial product by ticking all boxes applicable.



Please note that, if the applicant is a branch of a non-DIFC entity, it may only apply for financial service activities for which its head office has already been licensed by its home state regulator.


Proposed Financial Services Activities




Credit

Shares

Debentures

Warrants

Certificates

Options

Units

Futures

Structured Products

Rights under a LTI Contract*

1. Accepting Deposits

































2. Providing Credit

































3. Dealing in Investments as Principal


























3a. Dealing in Investments as Matched Principal


























4. Dealing in Investments as Agent


























5. Arranging Credit or Deals in Investments
























6. Managing Assets

























7. Advising on Financial Products or Credit
























8. Managing a Collective Investment Fund

































9. Providing Custody


























10. Arranging Custody


























11. Insurance Intermediation

































12. Insurance Management

































13. Managing a PSIA**

































14. Operating an Alternative Trading System

























15. Providing Trust Services

































16. Providing Fund Administration

































17. Acting as the Trustee of a Fund




































































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