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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
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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 - Jul 31 2009Aug 1 2009 onwards

COB A5.7.1



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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.

Past version: effective from Jul 1 2008 - Jul 31 2009.
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To view past versions of this module in PDF format, please visit the Archive.

(1) Subject to COB Rule A5.7.3, an Authorised FirmG may only pass, or permit to be passed, a Segregated Client'sG MoneyG to a Third Party AgentG if:
(a) the Client MoneyG is to be used in respect of a TransactionG or series or TransactionsG for that ClientG ;
(b) the Client MoneyG is to be used to meet an obligation of that ClientG ; or
(c) the Third Party AgentG is a bank.
(2) In respect of (1)(a) and (b), an Authorised FirmG must not hold any excess Client MoneyG with the Third Party AgentG longer than necessary to effect a TransactionG or satisfy the Client'sG obligation.
Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]