Home   Browse contents   View updates   Search  
     Quick search
Go
   

Whole Section Print Print Manager Link


36. The Powers and Functions of the Chief Executive



Whole Section PDF

Past version: effective from May 2 2010 - Dec 26 2011.
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.

The powers and functions of the Chief Executive are, so far as is reasonably practicable, to:

(a) exercise the executive power of the DFSA by taking such steps as are reasonable and which he considers appropriate to meet the objectives of the DFSA;
(b) license, authorise, register, recognise, regulate and supervise the conduct of activities required to be regulated under the Law or under any other legislation administered by the DFSA carried on by Authorised Firms, Authorised Market Institutions, Ancillary Service Providers, Authorised Individuals, Recognised Bodies and Recognised Members;
(c) prepare or cause to be prepared in a timely and efficient manner:
(i) draft Rules; and
(ii) draft standards or codes of practice;
reasonably required to enable the DFSA to perform its statutory functions, and submit such drafts to the DFSA Board of Directors;
(d) make and issue Guidance which does not constitute a standard or code of practice, and which is reasonably required to enable the DFSA to perform its statutory functions, and advise the DFSA Board of Directors of such Guidance;
(e) grant waivers and modifications to the application of Rules;
(f) exercise any power to grant waivers or modifications to the application of other legislation applying in the DIFC where such a power is conferred on the DFSA by that legislation, and advise the DFSA Board of Directors of any such exercise of power;
(g) investigate or cause to be investigated matters capable of investigation under the Law and, where appropriate, commence proceedings before the Financial Markets Tribunal and any other tribunals or courts of appropriate jurisdiction;
(h) where appropriate to do so, delegate such of his functions and powers as may more efficiently and effectively be performed by officers or employees of the DFSA and, with the approval of the DFSA Board of Directors either generally or in relation to any particular matter, by any other person; and
(i) exercise and perform such other powers and functions as may be delegated to the Chief Executive by the DFSA Board of Directors from time to time.