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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Rulemaking Instruments
RMI226/2018 Conduct of Business Module (COB) Rule-Making Instrument (No. 226) 2018
Media Releases
Financial Markets Tribunal

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COB A5.5.1

The requirement for an Authorised FirmG to pay Client MoneyG into a Client AccountG does not, subject to COB Rule A5.5.2, apply with respect to such Client MoneyG :

(a) received in the form of cheque, or other payable order, until the Authorised FirmG , or a PersonG or account controlled by the Authorised FirmG , is in receipt of the proceeds of that cheque;
(b) temporarily held by an Authorised FirmG before forwarding to a PersonG nominated by the ClientG ;
(c) in connection with a Delivery Versus Payment TransactionG where:
(i) in respect of a ClientG purchase, Client MoneyG from the ClientG will be due to the Authorised FirmG within one day upon the fulfilment of a delivery obligation; or
(ii) in respect of a ClientG sale, Client MoneyG will be due to the ClientG within one day following the Client'sG fulfilment of a delivery obligation; or
(d) held in the Client'sG own name where the Authorised FirmG has a mandate to manage the MoneyG on a discretionary basis.
Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]
[Amended] DFSA RM226/2018 (Made 6th June 2018). [VER30/08-18]