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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Conduct of Business Module (COB) [VER33/07-19]
Sourcebook Modules
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Financial Markets Tribunal
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  Versions
(1 version)
 
Jul 1 2008 onwards

COB A5.7.2

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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.

When an Authorised FirmG opens a Client AccountG with a Third Party AgentG it must obtain, within a reasonable period, a written acknowledgement from the Third Party AgentG stating that:

(a) all MoneyG standing to the credit of the account is held by the Authorised FirmG as agent and that the Third Party AgentG is not entitled to combine the account with any other account or to exercise any charge, mortgage, lien, right of set-off or counterclaim against MoneyG in that account in respect of any sum owed to it on any other account of the Authorised FirmG ; and
(b) the title of the account sufficiently distinguishes that account from any account containing MoneyG that belongs to the Authorised FirmG , and is in the form requested by the Authorised FirmG .
Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]