B. Requirement to Obtain Prior Approval
| 1. | No VASP may act as a Regulated Sponsor without approval from VARA in accordance with Rule VII.C of this Part VII of the Compliance and Risk Management Rulebook, below. |
| 2. | For the avoidance of doubt, nothing in this Part VII of the Compliance and Risk Management Rulebook shall have any effect on a VASP’s obligations to comply with all other requirements in the Regulations, Marketing Regulations, Rulebooks, Directives and/or their Licence in respect of the VA Activities for which it is otherwise Licensed to carry out. |