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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
General Module (GEN) [VER44/07-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Financial Markets Tribunal

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(1 version)
Jul 5 2012 onwards

GEN 5.3.30

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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.

(1) An Authorised PersonG must have a Governing BodyG and senior management that meet the requirements in (2) and (3) respectively.
(2) The Governing BodyG of the Authorised PersonG must:
(a) be clearly responsible for setting or approving (or both) the business objectives of the firm and the strategies for achieving those objectives and for providing effective oversight of the management of the firm;
(b) comprise an adequate number and mix of individuals who have, among them, the relevant knowledge, skills, expertise and time commitment necessary to effectively carry out the duties and functions of the Governing BodyG ; and
(c) have adequate powers and resources, including its own governance practices and procedures, to enable it to discharge those duties and functions effectively.
(3) The senior management of the Authorised PersonG must be clearly responsible for the day-to-day management of the firm's business in accordance with the business objectives and strategies approved or set by the Governing BodyG .
[Added] DFSA RM95/2012 (Made 14th June 2012). [VER29/06-12]