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Dubai Financial Services Authority (DFSA): Contents

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  Versions
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May 24 2017 onwards

Existing Authorised Firms that wish to test Fintech



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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.

26. If an existing Authorised FirmG wishes to test an innovative Fintech proposal, it will not need to apply for a LicenceG . Instead, if it has authorisation for the activity it wishes to carry on, it may carry on the activity. Alternatively, if it does not have the relevant authorisation for the activity, it will need to apply to amend its LicenceG to obtain that authorisation.
27. If the Authorised FirmG considers that there are RulesG that are not appropriate or are disproportionate to the testing of its Fintech proposal, it can apply to the DFSA for a waiver or modification of the RulesG . Again, if the DFSA grants waivers or modifications, it will do so only for a finite period (the period during which testing is to take place).
28. An Authorised FirmG that wishes to test an innovative Fintech proposal should discuss its proposal with the DFSA at an early stage.
Derived from DFSA GMI11/2017 (Made 24th May 2017) [VER39/05-17]