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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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GEN 5.3.19 Guidance

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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.  When considering whether an EmployeeG is fit and proper, competent and capable, an Authorised FirmG should consider any training undertaken or required by an EmployeeG , the nature of the ClientsG to whom an EmployeeG provides Financial ServicesG , and the type of activities performed by an EmployeeG in the provision of such Financial ServicesG including any interface with ClientsG .
2.  When assessing the fitness and propriety of EmployeesG , an Authorised FirmG should be guided by the matters set out in section 2.3 of the RPP Sourcebook and should also monitor conflicts or potential conflicts of interest arising from all of the individual's links and activities.
3.  When assessing the competence and capability of an Authorised FirmG should:
a.  obtain details of the skills, knowledge and experience of the EmployeeG relevant to the nature and requirements of the role;
b.  take reasonable steps to verify the relevance, accuracy and authenticity of any information obtained;
c.  determine, in light of the Employee'sG relevant skills, knowledge and experience, that the EmployeeG is competent and capable of fulfilling the duties of the role; and
d.  consider the level of responsibility that the EmployeeG will assume within the Authorised FirmG , including whether the EmployeeG will be providing Financial ServicesG to Retail ClientsG in an interfacing role.
4.  An Authorised FirmG should also satisfy itself that an EmployeeG :
a.  continues to be competent and capable of performing its the role;
b.  has kept abreast of market, product, technology, legislative and regulatory developments that are relevant to the role, through training or other means; and
c.  is able to apply his knowledge.
5. Refer to section 2.2.13 of the RPP Sourcebook for criteria for suitability of members of the Governing BodyG of the Authorised FirmG .
Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] [VER10/06-06]
[Amended] DFSA RM56/2008 (Made 1st July 2008). [VER19/07-08]
Amended in accordance with Notice of Amendments to Legislation April 2011 [VER27/02-11]
[Amended] DFSA RM95/2012 (Made 14th June 2012). [VER29/06-12]