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Dubai Financial Services Authority (DFSA): Contents

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Jul 5 2012 - Aug 20 2014Aug 21 2014 onwards

REC 4.4.6 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. Where, pursuant to Article 37(7) of the Law, the DFSA removes a PersonG from its list of Recognised PersonsG , the DFSA will generally only do so if:
a. the Recognised PersonG is in breach of, or has otherwise been in breach of, the Law or Rules or other legislation administered by the DFSA;
b. the Recognised PersonG is failing, has failed, or is likely to fail, to satisfy the Recognition CriteriaG ;
c. the Recognised PersonG requests to have its name removed from the list of Recognised PersonsG ; or
d. the DFSA considers that the exercise of the power is otherwise necessary or desirable in the pursuit of its objectives.
2. For the avoidance of doubt, the DFSA may remove a PersonG from the list of Recognised PersonsG in circumstances where such Person continues to meet the Recognition CriteriaG . This may include where the DFSA considers it necessary or desirable in the pursuit of its objectives to prevent damage to the reputation of the DIFC or to protect direct or indirect users of the financial services industry in the DIFC.
3. If the DFSAG proposes to remove a PersonG from its list of Recognised PersonsG , it is required under Article 37(9) of the Law to comply with the procedures in Schedule 3 to the Regulatory LawG .
4. If the DFSAG decides to remove a PersonG from its list of Recognised PersonsG , the PersonG may refer the matter to the FMTG for review.
Derived from DFSA RM90/2012 (Made 14th June 2012). [VER7/06-12]
[Amended] DFSA RM140/2014 (Made 21st August 2014). [VER8/06-14]