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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Rulebook Modules
Collective Investment Rules (CIR) [VER26/12-19 ]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases

Whole SectionText only Print Print Manager Link

(2 versions)
Jul 11 2010 - Jan 31 2016Feb 1 2016 onwards

CIR 13.6.3 Guidance

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.

1. If the prime broker holds the legal title to the FundG assets, the prime broker must, in any event, qualify as an Eligible CustodianG . However, even if a prime broker does not hold the legal title to the FundG assets, CIR Rule 13.6.3(c) requires it to meet the Eligible CustodianG requirements in certain circumstances. This is where it has the power to use FundG assets as collateral for its financing activities (e.g. by having a charge over the FundG assets) in conjunction with any other assets held by or available to it.
2. In relation to the matters referred to in Rules CIR 13.6.1 and CIR 13.6.2 and in relation to management of Hedge FundG investments, the DFSAG expects Fund ManagersG of Hedge FundsG to have proper regard to best practice standards and guidance set out in CIR App 8, DFSA's Hedge Fund Code of Practice as well as international developments relating to Hedge FundsG .
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
[Amended] RM158/2015 (Made 9th December 2015). [VER19/02-16]