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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
Conduct of Business Module (COB) [VER33/07-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Financial Markets Tribunal

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(1 version)
Jul 1 2008 onwards

COB 3.5.5

Whole Section PDF

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.

An Authorised FirmG must not DealG in InvestmentsG as AgentG for a ClientG , either directly or indirectly, through any broker under a Soft Dollar AgreementG , unless:

(a) the agreement is a written agreement for the supply of goods or services described in COB Rule 3.5.4, which do not take the form of, or include, cash or any other direct financial benefit;
(b) TransactionG execution by the broker is consistent with any best execution obligations owed to the ClientG ;
(c) the Authorised FirmG has taken reasonable steps to ensure that the services provided by the broker are competitive, with no comparative price disadvantage, and take into account the interests of the ClientG ;
(d) for TransactionsG in which the broker acts as principal, the Authorised FirmG has taken reasonable steps to ensure that CommissionG paid under the agreement will be sufficient to cover the value of the goods or services to be received and the costs of execution; and
(e) the Authorised FirmG makes adequate disclosure in accordance with Rules COB 3.5.6 and COB 3.5.7.
Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]