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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
General Module (GEN) [VER44/07-19]
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(1 version)
Jan 4 2009 onwards

GEN A2.4.1

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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

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(1) The DFSAG may, subject to (5), declare by written notice any financial instrument or class of financial instruments to be a particular type of an existing SecurityG or DerivativeG as defined in these RulesG or a new type of a SecurityG or DerivativeG . It may do so on such terms and conditions as it considers appropriate.
(2) The DFSAG may exercise the power under (1) either upon written application made by a PersonG or on its own initiative.
(3) Without limiting the generality of the matters that the DFSAG may consider when exercising its power under (1), it must consider the following factors:
(a) the economic effect of the financial instrument or class of financial instruments;
(b) the class of potential investors to whom the financial instrument is intended to be marketed;
(c) the treatment of similar financial instruments for regulatory purposes in other jurisdictions; and
(d) the possible impact of such a declaration on any person issuing or marketing such a financial instrument.
(4) A PersonG who makes an application for a declaration under (1) must address, as far as practicable, the factors specified in (3).
(5) The DFSAG must publish any proposed declaration under (1) for public consultation for at least 30 days from the date of publication, except where:
(a) it declares a financial instrument to be a particular type of an existing SecurityG or DerivativeG ;
(b) it determines that any delay likely to result from public consultation is prejudicial to the interests of the DIFCG ; or
(c) it determines that there is a commercial exigency that warrants such a declaration being made without any, or shorter than 30 day, public consultation.
[Added] DFSA RM62/2008 (Made 4th January 2009). [VER22/01-09]