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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Conduct of Business Module (COB) [VER33/07-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
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Financial Markets Tribunal
Archive

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  Versions
(2 versions)
 
Jul 1 2008 - Jan 31 2017Feb 1 2017 onwards

COB 3.5.3

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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 - Jan 31 2017.
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To view past versions of this module in PDF format, please visit the Archive.

(1) An Authorised FirmG must have systems and controls including policies and procedures to ensure that neither it, nor an EmployeeG or AssociateG of it, offers, gives, solicits or accepts inducements such as commissions or other direct or indirect benefits where such inducements are reasonably likely to conflict with any duty that it owes to its ClientsG .
(2) Subject to (3), an Authorised FirmG must, before recommending a financial product as defined in GEN Rule 2.11.1(5) to, or Executing a TransactionG for, a Retail ClientG , disclose to that ClientG any commission or other direct or indirect benefit which it, or any AssociateG or EmployeeG of it, has received or may or will receive, in connection with or as a result of the firm making the recommendation or executing the TransactionG .
(3) An Authorised FirmG need not disclose to a Retail ClientG under (2) any details about inducements where it:
(a) believes on reasonable grounds that the Retail ClientG is already aware of the relevant inducements;
(b) is undertaking an Execution-Only TransactionG for that Retail ClientG ; or
(c) is executing a TransactionG pursuant to the terms of a Discretionary Portfolio Management AgreementG for that Retail ClientG .
(4) An Authorised FirmG may provide the information required under (2) in summary form, provided it informs the ClientG that more detailed information will be provided to the ClientG upon request and complies with such a request.
Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]