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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]
PIB 3 Capital
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  Versions
(2 versions)
 
Dec 9 2012 - Dec 31 2017Jan 1 2018 onwards

PIB 3.9C.2



Whole Section PDF

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.

Where an Authorised FirmG fails to meet a Capital Buffer Requirement requirement, it must:

(a) calculate the maximum distributable amount in accordance with PIB Rule 3.9C.5;
(b) ensure that it does not undertake any of the following actions until it has calculated the maximum distributable amount and notified the DFSAG under PIB Rule 3.9C.6:
(i) make a distribution in connection with CET1 Capital;
(ii) create an obligation to pay variable remuneration or discretionary pension benefits or pay variable remuneration if the obligation to pay was created at a time when the institution failed to meet a Capital Buffer Requirement; or
(iii) make payments on AT1 and T2 Capital instruments.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]
[Amended] DFSA RM209/2017 (Made 25th October 2017). [VER30/01-18]