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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Regulatory Policy and Process Sourcebook (RPP) February 2017 Edition
RPP 3 Supervision — Being Regulated
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Whole SectionText only Print Print Manager Link


  Versions
(1 version)
 
Apr 28 2011 onwards

RPP 3-2-26



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.

There are various types of on-site visits by the DFSAG to an Authorised FirmG which differ in their objective and frequency:

(a) Periodic visits are undertaken at frequencies determined by the DFSAG and focus on the main risk areas within an Authorised Firm as well as providing the DFSAG with a thorough understanding of the Authorised FirmG , its business and any major changes that have taken place within the Authorised FirmG since a previous visit or risk assessment and their probable effects;
(b) Theme visits are designed to address a current or topical risk or issue either within a particular type of Authorised FirmG or the market place in general. They tend to be short in duration and are focused in their approach. Examples of theme visits are anti-money laundering, client assets and conflict management;
(c) Follow-up visits are often required to assess the implementation of any action that may have been agreed as part of a risk mitigation programme or to satisfy the DFSAG that the Authorised FirmG has taken appropriate action arising from a previous visit or communication;
(d) Special visits are unique to a particular Authorised FirmG and are generally scheduled following a particular event or notification from an Authorised FirmG . They are generally short, focused visits usually targeted to a particular area of an Authorised FirmG . These visits allow the DFSAG to review certain high risk areas of an Authorised Firm'sG business in isolation. Occasionally, special visits may be unannounced. These assist in keeping firms alert to the need to maintain a continuously high quality of compliance; and
(e) The DFSAG may, from time to time, hold high level meetings with an Authorised Firm'sG senior management. Such meetings enable the DFSAG to assess issues including any prudential concerns arising from desk based reviews or elsewhere.
Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]