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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Conduct of Business Module (COB) [VER32/02-19]
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COB 6.12.1

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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.

All MoneyG held or controlled on behalf of a ClientG in the course of, or in connection with, the carrying on of Investment BusinessG or the Operation of a Crowdfunding PlatformG in or from the DIFC is Client MoneyG , except MoneyG which is:

(a) held by the Authorised FirmG as a BankG in an account with itself, provided the Authorised FirmG notifies the ClientG in writing that the Client MoneyG is held by it as a BankG and not in accordance with this chapter;
(b) immediately due and payable by the ClientG to the Authorised FirmG ;
(c) belonging to another PersonG within the Authorised Firm'sG GroupG unless that PersonG is an Authorised FirmG or Regulated Financial InstitutionG and that PersonG has confirmed to the Authorised FirmG , in writing, that the beneficial owner of the MoneyG is a PersonG who is not part of the Authorised Firm'sG GroupG ;
(d) in an account in the Client'sG name over which the Authorised FirmG has a mandate or similar authority and where the Authorised FirmG is in compliance with COB Rule 6.11.3 (2), provided it is not a mandate to manage the MoneyG on a discretionary basis;
(e) received in the form of a cheque, or other payable order, made payable to a third party other than a PersonG or account controlled by the Authorised FirmG , provided the cheque or other payable order is intended to be forwarded to the third party within 1 business day of receipt; or
(f) Fund PropertyG of a FundG .
Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]
[Amended] DFSA RM202/2017 (Made 14th June 2017). [VER29/08-17]
[Amended] DFSA RM226/2018 (Made 6th June 2018). [VER30/08-18]