What rule applies to a foreign brokerage company applying for remote access to the ADX...

Remote access to the Abu Dhabi Securities Exchange is available only to foreign brokerage companies that meet the ADX's prescribed eligibility conditions. Among those conditions, the foreign brokerage firm must be properly licensed for financial brokerage in its home jurisdiction by a regulator comparable to the SCA, and that regulator must operate appropriate KYC, customer due diligence and AML/CFT standards. The rules also state expressly that the firm's licence must not previously have been refused by any regulatory authority similar to the Authority . A prior refusal therefore means that an essential eligibility condition for remote access is not satisfied. It is not a matter that can be cured merely by supplying additional collateral or accepting restricted trading privileges. The rule is framed as an entry condition, not simply a discretionary risk factor to be considered by the ADX board. Consequently, a foreign brokerage company with such a previous licensing refusal does not qualify for remote access approval under the stated conditions. Among the options supplied, this makes automatic rejection the correct outcome. Therefore, option D is correct.

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