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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Conduct of Business Module (COB) [VER33/07-19]
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Apr 1 2015 onwards

COB 2.3.1

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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.

(1) An Authorised FirmG must, before carrying on a Financial ServiceG with or for a PersonG , classify that PersonG as a:
(a) Retail ClientG ;
(b) Professional ClientG ; or
(c) Market CounterpartyG ,
in accordance with the requirements in this chapter.
(2) An Authorised FirmG may classify a PersonG as a different type of a ClientG for different Financial ServicesG or financial products that are to be provided to such a ClientG .
(3) If an Authorised FirmG is aware that a PersonG ('the agent'), with or for whom it is intending to carry on a Financial ServiceG is acting as an agent for another PersonG ('the principal') in relation to the service then, unless the agent is another Authorised FirmG or a Regulated Financial Institution, the Authorised FirmG must treat the principal as its ClientG in relation to that service.
(4) If an Authorised FirmG intends to provide any Financial ServiceG to a trust, it must, unless otherwise provided in the Rules, treat the trustee of the trust, and not the beneficiaries of the trust, as its ClientG .
Derived from DFSA RM149/2015 (Made 11th February 2015) [VER24/04-15]