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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
General Module (GEN) [VER46/01-20]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases

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(1 version)
Jul 5 2012 onwards

GEN 5.3.31

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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) The Governing BodyG of an Authorised PersonG must ensure that the remuneration structure and strategy of the firm:
(a) are consistent with the business objectives and strategies and the identified risk parameters within which the firm's business is to be conducted;
(b) provide for effective alignment of risk outcomes and the roles and functions of the EmployeesG , taking account of:
(i) the nature of the roles and functions of the relevant EmployeesG ; and
(ii) whether the actions of the EmployeesG may expose the firm to unacceptable financial, reputational and other risks;
(c) at a minimum, include the members of its Governing BodyG , the senior management, Persons Undertaking Key Control FunctionsG and any major risk-taking EmployeesG ; and
(d) are implemented and monitored to ensure that they operate, on an on-going basis, effectively and as intended.
(2) The Governing BodyG must provide to the DFSAG and relevant stakeholders sufficient information about its remuneration structure and strategies to demonstrate that such structure and strategies meet the requirements in (1) on an on-going basis.
(3) For the purposes of this Rule, "major risk-taking EmployeesG " are EmployeesG whose actions have a material impact on the risk exposure of the Authorised PersonG .
[Added] DFSA RM95/2012 (Made 14th June 2012). [VER29/06-12]