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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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  Versions
(1 version)
 
Jul 1 2008 onwards

COB 5.6.1



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.

A Trust Service ProviderG must have arrangements for internal reporting to ensure that the directors or the partners can satisfy themselves that:

(a) the requirements of the relevant legislation are being met on an on going basis;
(b) the Trust Service Provider'sG business is being managed according to sound business principles and, in particular, that it can meet its financial commitments as they fall due;
(c) the affairs of its ClientsG are being managed in accordance with the service agreements;
(d) the trustees are acting in accordance with their fiduciary and other duties;
(e) the affairs of its ClientsG are being properly monitored and in particular that the ClientG is not using the trust structure to hide assets from legitimate enquiry, to avoid proper obligations in other jurisdictions or to engage in illegal activities in other jurisdictions;
(f) the assets of its ClientsG are properly managed and safeguarded; and
(g) the recruitment, training and motivation of staff is sufficient to meet the obligations of the business.
Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]