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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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
Financial Markets Tribunal

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PIB 9.2.2

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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 must ensure that its Governing BodyG is ultimately responsible for the Liquidity Risk assumed by the firm as well as the adequacy of systems, controls and processes used to manage that risk.
(2) Without limiting the operation of (1), the responsibilities of an Authorised Firm'sG Governing BodyG in respect of Liquidity RiskG include:
(a) approving the Authorised Firm'sG Liquidity RiskG policy;
(b) establishing and maintaining a senior management structure with clearly defined responsibilities and roles for the management of Liquidity RiskG and for ensuring compliance with the Authorised Firm'sG Liquidity Risk policy;
(c) ensuring the senior management in (b) and other relevant personnel have the necessary experience to manage Liquidity RiskG ;
(d) monitoring the Authorised Firm'sG overall Liquidity RiskG profile on a regular basis by receiving adequate reporting and being aware of any material changes in the Authorised Firm'sG current or prospective Liquidity RiskG profile;
(e) ensuring that Liquidity RiskG is adequately identified, assessed, mitigated, controlled and monitored in accordance with the Authorised Firm'sG Liquidity RiskG policy;
(f) ensuring that the Liquidity RiskG policy are is documented; and
(g) ensuring that the Liquidity RiskG policy are is reviewed at least annually.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]
[Amended] DFSA RM148/2014 (Made 1st January 2015). [VER23/01-15]
[Amended] DFSA RM209/2017 (Made 25th October 2017). [VER30/01-18]