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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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GEN 3.2.1 Guidance



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1. Article 41A(3) of the Regulatory Law defines a Financial PromotionG as:

"Any communication, however made, which invites or induces a PersonG to:
(a) enter into, or offer to enter into, an agreement in relation to the provision of a financial service; or
(b) exercise any rights conferred by a financial product or acquire, dispose of, underwrite or convert a financial product."
2. The GuidanceG in this chapter is designed to help explain the scope of the Financial Promotions ProhibitionG .
3. The definition of a Financial PromotionG is very broad and encompasses the definitions of a "financial promotion" in Article 19(3) of the Collective Investment Law 2010. A Financial PromotionG also includes "marketing material" as defined elsewhere in the RulebookG .
4. The DFSAG considers that a Financial PromotionG may be made in any manner and by any form including, but not limited to, an oral, electronic or written communication and includes an advertisement, or any form of promotion or marketing. A disclaimer stating that a communication is not a Financial PromotionG would not, on its own, prevent a communication from being a Financial PromotionG .
5. A PersonG who is permitted to make a Financial PromotionG in the DIFCG pursuant to these RulesG should ensure that in making such a Financial PromotionG he does not breach the Financial Services ProhibitionG in Article 41 of the Regulatory Law.
6. Depending on the nature and scale of the activities, if a PersonG makes Financial PromotionsG on a regular basis or for a prolonged period while physically located in the DIFCG , for example by way of a booth, meetings or conferences, the DFSAG may consider such activities as constituting the carrying on of a Financial ServiceG , such as Operating a Representative OfficeG . The DFSAG considers that in the context of Financial PromotionsG , "a regular basis" would be anything more than occasional and "a prolonged period" would usually be anything more than 3 consecutive days.
Added in accordance with Notice of Amendments to Legislation April 2011 [VER27/02-11]
[Amended] DFSA RM95/2012 (Made 14th June 2012). [VER29/06-12]
[Amended] DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]