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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Authorised Market Institutions (AMI) [VER18/02-17]
Part 3 Licensing Requirements
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
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Financial Markets Tribunal
Archive

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(1 version)
 
Jul 14 2013 onwards

AMI 5.5.1

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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.

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

(1) Without limiting the generality of the obligations relating to systems and controls in section 5.3 of GEN, an Authorised Market InstitutionG must ensure that its systems and controls are:
(a) adequate to ensure that its operations are conducted at all times in accordance with the applicable requirements, including legislation;
(b) sufficiently flexible and robust to ensure continuity and regularity in the performance of its functions relating to the operation of its facilities; and
(c) appropriate to the nature, scale and complexity of its operations.
(2) For the purposes of (1), the systems and controls of an Authorised Market InstitutionG must be adequate to enable it to meet the Licensing RequirementsG on an on-going basis. In particular, they must include adequate arrangements in relation to:
(a) the assessment and management of all risks;
(b) financial and technology resources;
(c) the fitness and propriety of its EmployeesG ;
(d) the operation of its functions;
(e) outsourcing;
(f) the safeguarding and administration of assets belonging to its MembersG and other participants on its facilities;
(g) the transmission of information to MembersG and other participants on its facilities; and
(h) the supervision and monitoring of transactions on its facilities.
(3) An Authorised Market InstitutionG must undertake regular reviews of its systems and controls to ensure that they remain adequate and operate as intended.
Derived from RM118/2013 [VER15/07-13]