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  • Approved Persons

    • AU-5.4.5

      Investment firm licensees must seek prior CBB approval before an approved person may move from one controlled function to another within the same licensee.

      Adopted: July 2007

    • AU-5.4.6

      In such instances, a new Form 3 (Application for Approved Person status) should be completed and submitted to the CBB. Note that a person may be considered ‘fit and proper’ for one controlled function, but not for another, if for instance the new role requires a different set of skills and experience. Where an approved person is moving to a controlled function in another licensee, the first licensee should notify the CBB of that person’s departure (see Rule AU-5.5.5), and the new licensee should submit a request for approval under Rule AU-1.2.1.

      Adopted: July 2007