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  Versions
(1 version)
 
Jul 5 2012 onwards

REC 2.5.1



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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.

For the purposes of Article 37(6) of the Law the Recognition CriteriaG for a Recognised MemberG are that:

(a) it is licensed or otherwise authorised to trade on or use the facilities of an exchange, clearing house or alternative trading system in a jurisdiction acceptable to the DFSA;
(b) it is regulated in respect of the trading in (a) by a Financial Services RegulatorG to a standard satisfactory to the DFSA;
(c) the law and practice under which the Recognised MemberG is licensed or otherwise authorised is broadly equivalent to the DFSA's regulatory regime as it applies to a DIFC MemberG ;
(d) adequate arrangements exist, or will exist for co-operation between the DFSA and the Financial Services RegulatorG responsible for the Recognised Member'sG licensing and regulation.
(e) when using the facilities of an exchange, clearing house or alternative trading system in the DIFC, it does not exceed the scope of the activities it is licensed to carry on by its Financial Services RegulatorG ;
(f) subject to 2.5.2, it carries on business in a jurisdiction other than the DIFC and has its head and registered offices outside of the DIFC; and
(g) subject to 2.5.3, when dealing on an ExchangeG or Alternative Trading SystemG in the DIFC, it does so only for:
(i) non-DIFC customers; or
(ii) DIFC customers for whom it deals as a result of an unsolicited request for execution-only services.
Derived from DFSA RM90/2012 (Made 14th June 2012). [VER7/06-12]