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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER33/02-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Financial Markets Tribunal

Whole SectionText only Print Print Manager Link

(1 version)
Dec 9 2012 onwards

PIB 6.11.2

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) An Authorised FirmG must, subject to (2), use the Basic Indicator ApproachG as prescribed in PIB App6 to calculate its Operational RiskG Capital RequirementG .
(2) An Authorised FirmG may, with the written approval of the DFSAG , use the Standardised ApproachG or the Alternative Standardised ApproachG , both as prescribed in PIB App6, to calculate its Operational RiskG Capital RequirementG if the DFSAG is satisfied that:
(a) its Governing BodyG and senior management, as appropriate, are actively involved in the oversight of its Operational RiskG framework;
(b) it has, in accordance with the requirements set out in this chapter, implemented and maintains an Operational RiskG policy which provides for a sound and well-defined risk management framework to address the Authorised Firm'sG Operational RiskG ; and
(c) it has dedicated sufficient resources in the use of the relevant approach in its major business lines and its control and audit functions.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]