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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER33/02-19]
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  Versions
(1 version)
 
Dec 9 2012 onwards

PIB 10.3.2



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 establish and maintain an IRAPG which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
(2) The firm must conduct the IRAPG assessment at least annually giving due regard to the GuidanceG in PIB section A10.1 of PIB App10.
(3) The IRAPG assessment conducted by the firm pursuant to (2) must be approved by its Governing BodyG and then submitted to the DFSAG within four months from the end of the firm's financial year.
(4) In addition to (2), the firm must conduct an IRAPG assessment:
(a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital ResourcesG or Adjusted Capital ResourcesG , as applicable; or
(b) as and when required by the DFSAG .
(5) An IRAPG assessment conducted by the firm pursuant to (4) must be approved by its Governing BodyG and then submitted to the DFSAG within two months, or such other period as may be specified by the DFSAG , from the date of such material change or requirement.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]