Administrative Decision No. 123/R.T of 2017 Concerning the Regulatory Controls for Financial Activities and Services

The Chief Executive Officer, having perused

- The Federal Law No. 4 of 2004 concerning the Emirates Securities and Commodities Authority and Market, as  amended, and the decisions issued thereunder;

- The Federal Law No. 2 of 2015 concerning the Commercial Companies;

- The Cabinet’s Decision No. 13 of 2000 concerning the Regulations as to the Functioning of the Securities and Commodities Authority, as amended;

- The Chairman of the SCA Board of Directors’ Decision No. 38/R of 2015 Assigning Dr. Obaid Al Zaabi as Acting Chief Executive Officer of the Securities and Commodities Authority;

- The Administrative Decision No. 34/R.T. of 2016 concerning the Regulatory Controls for Financial Activities and Services; and

- Based on the requirements for the best interest of the work,

Has decided:

Chapter 1 - Fit and Proper Criteria

Article 1

The fit and proper criteria is intended to determine the fitness and competence of the company or entity applying for license or already licensed, as the case may be, and the relevant persons such as the Board members and partners of th...