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Dubai Financial Services Authority (DFSA): Contents

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(2 versions)
 
Jul 14 2013 - Mar 31 2015Apr 1 2015 onwards

COB 9.3.1



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 ATS OperatorG may, subject to (2) and (3), only accept as a member a PersonG if that PersonG :

(a) is an Authorised FirmG ;
(b) is a Recognised MemberG ;
(c) meets the criteria in GEN Rule 2.3.2(2); or
(d) is classified as a Professional ClientG pursuant to COB Rule 2.3.4(1)(g), (h) and (i).

(2) An ATS OperatorG must not admit a PersonG referred to in (1)(c) or (d), unless such PersonG :

(a) agrees in writing to submit unconditionally to the jurisdiction of the DFSAG in relation to any matters which arise out of or which relate to its use of the facility;
(b) agrees in writing to submit unconditionally to the jurisdiction of the DIFC CourtsG in relation to any proceedings in the DIFCG , which arise out of or relate to its use of the facility;
(c) agrees in writing to subject itself to the DIFCG laws and the jurisdiction of the DIFC CourtsG in relation to its use of the facility; and
(d) appoints and maintains at all times an agent for service of process in the DIFCG and requires such agent to accept its appointment for service of process.

(3) Prior to admitting a PersonG referred to in (1) (c) or (d) as a member, an ATS OperatorG must undertake due diligence to ensure that such a PersonG :

(a) is of sufficiently good repute;
(b) has a sufficient level of competence and experience; and
(c) has adequate organisational arrangements, including financial and technological resources, which are no less than those required of an Authorised FirmG appropriate to the nature of its operations.
[Added] DFSA RM123/2013 (Made 13th June 2013) [VER22/07-13]
[Amended] DFSA RM149/2015 (Made 11th February 2015) [VER24/04-15]