GEN 5.2.9

(1) In assessing whether an applicant is fit and proper, the Regulator will consider:
(a) the fitness and propriety of the members of its Governing Body;
(b) the applicant's connection with any person or membership of any Group;
(c) the suitability of the applicant's Controllers or any other Person;
(d) the impact a Controller might have on the applicant's ability to comply with the applicable requirements;
(e) the Regulated Activities concerned and the risks to their continuity;
(f) the nature (including the scale and complexity) of the activities of the applicant and any associated risks that those activities pose to the Regulator's objectives described under section 1(3) of the FSMR;
(g) whether the applicant's business model will allow for its affairs and business to be conducted and managed in a sound and prudent manner, having regard in particular to the interests of consumers and the integrity of the ADGM;
(h) whether those who manage the applicant's affairs in accordance with (g) will have adequate skills and experience and will act with probity;
(i) any matter which may harm or may have harmed the integrity or the reputation of the Regulator or ADGM, including through the carrying on of a business by the applicant for a purpose connected with a Financial Crime; and
(j) any other relevant matters.
(2) The Regulator will, in assessing the matters in (1), consider the cumulative effect of factors which, if taken individually, may be regarded as insufficient to give reasonable cause to doubt the fitness and propriety of an applicant.