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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

(2 versions)
Dec 9 2012 - Jan 31 2017Feb 1 2017 onwards

PIB App6 Guidance

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. PIB section 6.11 provides that an Authorised FirmG in CategoriesG 1, 2, 3A and 5 must use the Basic Indicator ApproachG to calculate its Operational RiskG Capital RequirementG , unless the firm has approval from the DFSAG to use the Standardised ApproachG or Alternative Standardised ApproachG . In this PIB App6:
a. the Basic Indicator ApproachG is prescribed in PIB section A6.1;
b. the Standardised ApproachG is prescribed in PIB section A6.2; and
c. the Alternative Standardised ApproachG is prescribed in PIB section A6.3.
2. The application of various components of the rules on Operational RiskG to Authorised FirmsG licensed to carry out various financial services is detailed in the table below:
Financial ServicesG Prudential CategoryG Capital requirement Systems and controls requirement PII cover
Accepting DepositsG 1 YES YES NO
Providing CreditG 2 YES YES NO
Dealing in Investments as PrincipalG 2 YES YES NO
Dealing in InvestmentsG as Matched PrincipalG 3A YES YES NO
Dealing in Investments as AgentG 3A YES YES NO
Managing AssetsG 3B NO YES YES
Managing a Collective Investment FundG 3B NO YES YES
Managing a Restricted PSIAG 3B NO YES YES
Providing CustodyG 3B or 3C NO YES YES
Providing Trust ServicesG 3B NO YES YES
Acting as the Trustee of a FundG 3C NO YES YES
Arranging Deals in InvestmentsG 4 NO YES YES
Advising on Financial ProductsG 4 NO YES YES
Arranging CustodyG 4 NO YES NO
Insurance IntermediationG 4 NO YES YES
Insurance ManagementG 4 NO YES YES
Providing Fund AdministrationG 4 NO YES YES
Operating an Alternative Trading SystemG 4 NO YES NO
Arranging Credit and Advising on CreditG 4 NO YES YES
Managing an Unrestricted PSIAG 5 or 1 YES YES NO
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]
[Amended] DFSA RM188/2016 (Made 7th December 2016). [VER26/02-17]