• GEN 5.1.1 GEN 5.1.1

    (1) This Chapter applies, subject to (2), to every Person who is:
    (a) an Authorised Person;
    (b) an applicant for a Financial Services Permission;
    (c) an Approved Person;
    (d) an applicant for Approved Person status;
    (e) a Recognised Person;
    (f) an applicant for Recognised Person status; or
    (g) a Controller of a Person referred to in (a) or (b).
    (2) This Chapter does not apply to Recognised Bodies or operators of a Representative Office.
    (3) Upon the granting of a Financial Services Permission to an applicant, such applicant will be required to satisfy the requirements of the provisions in this Chapter on an on-going basis.

    • Guidance

      1. This Chapter outlines the authorisation requirements for an Authorised Person, an Approved Person and a Recognised Person
      2. The Regulator's requirements for authorisation of:
      a. Recognised Bodies are covered by MIR; and
      b. Representative Offices are covered by Chapter 9.
      3. This Chapter should be read in conjunction with the GPM which sets out the Regulator's general regulatory policy and processes. Some additional processes may be outlined in other Chapters of this Rulebook.
      4. The GPM sets out the Regulator's approach to the authorisation of Undertakings and individuals to conduct Regulated Activities, Controlled Functions or Recognised Functions, as the case may be.
      Amended on (3 February, 2020).