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MAE-5.3.8A

Each applicant applying for approved personG status and those individuals occupying approved personG positions must comply with the following conditions:

(a) Has not previously been convicted of any felony or crime that relates to his/her honesty and/or integrity unless he/she has subsequently been restored to good standing;
(b) Has not been the subject of any adverse finding in a civil action by any court or competent jurisdiction, relating to fraud;
(c) Has not been adjudged bankrupt by a court unless a period of 10 years has passed, during which the person has been able to meet all his/her obligations and has achieved economic accomplishments;
(d) Has not been disqualified by a court, regulator or other competent body, as a director or as a manager of a corporation;
(e) Has not failed to satisfy a judgement debt under a court order resulting from a business relationship;
(f) Must have personal integrity, good conduct and reputation;
(g) Has appropriate professional and other qualifications for the controlled functionG in question, including qualifications such as the Securities Market Regulation Certification Programme (Series 7), the General Securities Representative Qualification (Series 79), and/or any other relevant examinations and qualifications recognised by the CBB that are appropriate to capital market functions, as the case may be. However the CBB reserves the right to impose a higher level of qualifications as it deems necessary; and
(h) Has sufficient experience to perform the duties of the controlled functionG .
Added: April 2016
 Versions
(1 Version)
 
Apr 1 2016 onwards
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