(1) The Bank shall not grant an authorisation under Regulation 11(1) to a person unless the Bank has been informed of -
(a) the identities of the shareholders or members,
(b) whether the shareholders or members, as the case may be,
(i) are direct or indirect,
(ii) are natural or legal persons,
(iii) have qualifying holdings, and
(iv) the amounts of those qualifying holdings, if any.
(2) The Bank shall not grant an authorisation under Regulation 11(1) unless, taking into account the need to ensure sound and prudent management of investment firms, the Bank is satisfied as to the suitability of the shareholders or members that have or will have qualifying holdings in the investment firm that is the subject of the application under Regulation 11(1).