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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]
PIB App5 Market Risk
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 A5.8.5

    (1) An Authorised Firm that buys and sells Securities before issue is dealing in the grey market for the purposes of this section.
    (2) The other Rules in PIB section A5.8 do not apply to an Authorised Firm with respect to its dealings in the grey market unless the Authorised Firm:
    (a) has an Underwriting commitment to the Issuer in respect of those Securities; or
    (b) has a sub-underwriting commitment in respect of those Securities and is using the grey market solely for the purpose of reducing that sub-underwriting commitment.
    (3) The other Rules in PIB section A5.8 do not apply to an Authorised Firm with respect to its dealings in the grey market if the transaction is undertaken by the proprietary trading part of the Authorised Firm or is undertaken for proprietary trading purposes.
    Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]