3.5.1The Licensed Person must maintain adequate levels of financial resources in accordance with Paragraphs 2.3 of Chapter 2 and 4.1, 4.18 and 4.19 of Chapter 4 at all times;
3.5.2The Licensed Person must maintain resources, systems and controls that are, in the opinion of the Central Bank, adequate for the scale and complexity of its activities and mitigating risks of financial crime;
3.5.3The Licensed Person must appoint External Auditors, subject to obtaining a Letter of No Objection from the Central Bank in accordance with Paragraph 7.3.2 of Chapter 7;
3.5.4The Licensed Person’s books of accounts and other records must be available within the UAE at all times and for examination by the Central Bank or persons appointed by the Central Bank;
3.5.5The Licensed Person must comply with the minimum record-keeping requirements covered under Paragraph 16.24 of Chapter 16;
3.5.6The Licensed Person must act in an open and cooperative manner with the Central Bank at all times;
3.5.7The Licensed Person must comply with the regulatory reporting requirements covered in Appendix 3 of the Standards;
3.5.8The Licensed Person must comply with any other specific requirements or restrictions imposed by the Central Bank on the scope of its license; and
3.5.9When granting a license, the Central Bank specifies the regulated services that the Licensed Person is permitted to offer. The Licensed Person must operate within the scope of its license at all times. The Central Bank reserves the right to vary existing requirements or impose additional restrictions or requirements, to address specific risks associated with the business of a Licensed Person.