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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER33/02-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  • PIB 4.4.6

    For the purposes of the Rules in this chapter, a Person is a "Related Person" of an Authorised Firm if the Person:

    (a) is, or was in the past 2 years:
    (i) a member of a Group or Partnership in which the Authorised Firm is or was also a member; or
    (ii) a Controller of the Authorised Firm or a Close Relative of such a Controller;
    (b) is, or was in the past 2 years, a Director, Partner or senior manager of the Authorised Firm or an entity referred to under (a)(i) or (ii), or a Close Relative of such a Director, Partner or senior manager; or
    (c) is an entity in which a Director, Partner or senior manager of the Authorised Firm or an entity referred to in (a)(i) or (a)(ii), or a Close Relative of such a Director, Partner or senior manager has a significant interest by:
    (i) holding 20% or more of the shares of that entity, or a Parent of that entity, if that entity is a company; or
    (ii) being entitled to exercise 20% or more of the voting rights in respect of that entity;
    except that a Partner is not a Related Person where that Person is a limited partner of a Limited Partnership formed under the Limited Partnership Law of 2006 or any similar limited partnership constituted under the law of a country or territory outside the DIFC.
    Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]