Fit and Proper requirements

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....he entity and its principal officer, compliance officer, directors/ partners/ designated partners, and controlling shareholders are 'fit and proper' persons, at all times. 2) For the purpose of sub-regulation (1), a person shall be deemed to be a 'fit and proper' if,- (i). such a person has a record of fairness and integrity, including but not limited to- (a) financial integri....

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....ty and is pending; e) an order has been passed against the person for malfeasance; f) the person has been declared an undischarged insolvent; g) An order, restraining, prohibiting or debarring the person from accessing, providing or dealing in financial product (s) or financial service (s), has been passed by any regulatory authority, in any matter concerning financial s....