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Dubai Financial Services Authority (DFSA): Contents

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Eligible Custodian



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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.

Past version: effective from Jul 1 2008 - Jul 10 2010.
To view other versions open the versions tab on the right.

To view past versions of this module in PDF format, please visit the Archive.

An Eligible CustodianG is a PersonG who is a separate legal entity from the OperatorG and, in the case of an Investment TrustG , both the OperatorG and the TrusteeG , and is:

(1) an Authorised FirmG whose LicenceG authorises it to Provide CustodyG services;
(2) an Authorised FirmG which is a BankG ;
(3) an Authorised Market InstitutionG ;
(4) an UndertakingG :
(a) that is authorised and supervised by a Financial Services RegulatorG in a Recognised JurisdictionG for providing custody services in respect of a FundG and is subject to a minimum capital requirement of $4 million or its equivalent in any other currency at the relevant time and has had surplus revenue over expenditure for the last two financial years;
(b) where it, or its holding company, in respect of its financial strength is:
(i) rated or graded as at least "investment grade" by Moody's, Fitch or Standard & Poor's or such other international rating agency as may be recognised by the DFSAG ; and
(ii) is authorised and supervised by a Financial Services RegulatorG in another jurisdiction which is a Zone 1G country; or
(c) where it is authorised or recognised by a Financial Services RegulatorG to operate as an exchange or a clearing house in a Recognised JurisdictionG ; or
(5) an UndertakingG that is and remains:
(a) controlled and wholly owned by one or more of the national governments of the six member states of the Gulf Cooperation CouncilG ;
(b) authorised and supervised by a Financial Services RegulatorG or Central BankG of at least one of the said national governments; and
(c) rated or graded as at least "investment grade" by Moody's, Fitch or Standard & Poor's or such other international rating agency as may be recognised by the DFSAG .
[Added][VER8/04-06]
[Amended]DFSA RM34/2006[VER9/08-06]
[Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]