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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
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Jul 14 2013 - Aug 20 2014Aug 21 2014 onwards

AMI 5.5.3

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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.

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(1) Without limiting the generality of the requirements in GEN Rules 5.3.21 and 5.3.22, an Authorised Market InstitutionG must, before entering into any material outsourcing arrangements with a service provider, obtain the DFSA'sG prior approval to do so.
(2) For avoidance of doubt, the requirement in (1) applies to any outsourcing arrangements which were not in existence at the time the Authorised Market InstitutionG was granted its LicenceG .
(3) In order to obtain the DFSA'sG prior approval for outsourcing arrangements referred to in (1), an Authorised Market InstitutionG must follow those procedures for obtaining the DFSA'sG prior approval for material changes specified in Rule 4.3.1(1).
(4) The procedures in Schedule 3 to the Regulatory LawG apply to a decision of the DFSAG under this Rule to refuse to approve an outsourcing arrangement.
(5) If the DFSAG decides to exercise its power under this Rule to refuse to approve an outsourcing arrangement, the Authorised Market InstitutionG may refer the matter to the FMTG for review.
Derived from RM118/2013 [VER15/07-13]
[Amended] DFSA RM133/2014 (Made 21st August 2014). [VER16/06-14]