GEN 4.6.1

(1) Where an Authorised Person, Recognised Body or a Person who has submitted an application for authorisation to carry on one or more Regulated Activities has Close Links with another Person, the Regulator must be satisfied that those Close Links are not likely to prevent the effective supervision by the Regulator of the Authorised Person or Recognised Body.
(2) In assessing whether the Close Links between an Authorised Person, Recognised body or a Person who has submitted an application under (1), with another person will not prevent the effective supervision by the Regulator of that Authorised Person, Recognised Body or Person, the Regulator will consider:
(a) the nature of the relationship between the Authorised Person, Recognised Body or Person and the person with whom they have Close Links;
(b) whether those Close Links are, or that relationship is, likely to prevent the Regulator's effective supervision of the Authorised Person, Recognised Body or Person; and
(c) if the person with whom the Authorised Person, Recognised Body or Person has Close Links is subject to the laws, regulations or administrative provisions of a country, territory or jurisdiction other than the ADGM, (the "Foreign Provisions"), whether those Foreign Provisions, or any deficiency in their enforcement, would prevent the Regulator's effective supervision of the Authorised Person, Recognised Body or Person.
(3) If requested by the Regulator the Authorised Person or Recognised Body must submit a Close Links report or notification, in a form specified by the Regulator. This may be requested on an ad hoc or periodic basis.