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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER33/02-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  Versions
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Dec 9 2012 onwards

PIB 1.3.3

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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.

To view past versions of this module in PDF format, please visit the Archive.

(1) An Authorised FirmG is in CategoryG 3A if:
(a) its LicenceG authorises it to carry on one or more of the Financial ServicesG of:
(i) Dealing in Investments as PrincipalG (where it does so only as a Matched PrincipalG ); or
(ii) Dealing in Investments as AgentG ; and
(b) it does not meet the criteria of CategoriesG 1, 2 or 5.
(2) For the purposes of PIBG , an Authorised FirmG Deals in InvestmentsG as a "Matched PrincipalG " if:
(a) it enters into transactions as a principal only for the purpose of fulfilling its Clients'G orders;
(b) it holds positions for its own account ("positions") only as a result of a failure to match Clients'G orders;
(c) the total market value of the positions it holds is no more than 15% of the Firm's Tier 1 Capital ResourcesG ; and
(d) the positions are incidental in nature and are strictly limited to the time reasonably required to carry out a transaction of that nature.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]