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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Conduct of Business Module (COB) [VER33/07-19]
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Apr 1 2015 onwards

COB 2.4.1

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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) For the purpose of Rule 2.3.3(1)(b), an Authorised FirmG must, subject to (4), when first establishing a relationship with a PersonG as a Professional ClientG , inform that PersonG in writing of:
(a) that Person'sG right to be classified as a Retail ClientG ;
(b) the higher level of protection available to Retail ClientsG ; and
(c) the time within which the PersonG may elect to be classified as a Retail ClientG .
(2) If the PersonG does not expressly elect to be classified as a Retail ClientG within the time specified by the Authorised FirmG , the Authorised FirmG may classify that PersonG as a Professional ClientG .
(3) If a PersonG already classified as a Professional ClientG by an Authorised FirmG expressly requests the Authorised FirmG to be re-classified as a Retail ClientG , the Authorised FirmG must, subject to (4), re-classify such a PersonG as a Retail ClientG .
(4) If an Authorised FirmG does not provide Financial Services to Retail ClientsG , it must inform the PersonG of this fact and any relevant consequences.
Derived from DFSA RM149/2015 (Made 11th February 2015) [VER24/04-15]