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  • Fees Module (FER) [VER17/04-18]

    • FER 1 Introduction

      • FER 1.1 Application

        • FER 1.1.1

          This module applies to a PersonG to whom a provision in legislation administered by the DFSA applies.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM83/2011 (Made 30th November 2011). [VER5/11-11]
          [Amended] DFSA RM122/2013 (Made 14th July 2013). [VER7/07-13]
          [Amended] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]
          [Amended] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 1.1.2 [Deleted]

          [Deleted] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

          • [Deleted]

            [Deleted] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]

      • FER 1.2 General provisions

        • Due date for payment of fees

          • FER 1.2.1

            Where pursuant to chapter FER 2 or FER 4, a fee is payable for any application to the DFSAG , the application will not be regarded as submitted until the fee and any supplementary fee has been paid in full.


            Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]

          • FER 1.2.2

            In regard to fees payable pursuant to FER chapter 3:

            (a) the initial annual fee must be paid in full to the DFSAG within 21 days of the date on which the LicenceG , RecognitionG or registration is granted or notification made; and
            (b) subsequent annual fees are payable in advance and must be paid in full to the DFSAG :
            (i) in the case of a Person other than a Registered AuditorG , on or before 1 January of the calendar year to which the fee relates; and
            (ii) in the case of a Registered AuditorG , on or before 1 March of the calendar year to which the fee relates.
            Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
            [Amended] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]
            [Amended] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]
            [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

            • FER 1.2.2 Guidance

              In regard to the payment of subsequent annual fees, invoices will be issued at least 21 days before the specified date for payment.

              Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
              [Amended] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]
              [Amended] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]
              [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

          • FER 1.2.3

            In respect of a fee payable pursuant to FER chapter 5, payment must be made to the DFSAG by the BidderG :

            (a) at the time of filing of the Bid DocumentG with the DFSAG ; and
            (b) before the document is posted.

            Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]

            • FER 1.2.3 Guidance

              If a fee under FER chapter 5 is not paid by the date on which it becomes due, the PersonG is in breach of a Rule and the DFSAG is entitled to take action including, but not limited to, taking steps to suspend or cancel listing.

              [Added] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]

          • FER 1.2.4

            If a fee is payable under FER chapter 6 for an application, notification or request, the application, notification or request will not be regarded as submitted until the fee has been paid in full.

            [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

            • [Deleted]

              [Deleted] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]

          • FER 1.2.5

            If a fee is payable under FER chapter 7, the fee must be paid in full within 21 days after the DFSAG issues an invoice for that fee.

            Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • Reduction, waiver or refund of fees

          • FER 1.2.6

            The DFSAG may reduce, waive or refund all or part of any fee if it considers that, in the exceptional circumstances of a particular case, it would be equitable to do so.

            Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
            [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • Supplementary fees

          • FER 1.2.7

            (1) The DFSAG may require a Person to pay to the DFSAG a supplementary fee in circumstances where it expects to incur substantial additional costs in dealing with an application, notification or conducting ongoing supervision.
            (2) The procedures in Schedule 3 to the Regulatory LawG apply to a decision of the DFSAG to require a PersonG to pay a supplementary fee.
            (3) If the DFSA decides to require a Person to pay a supplementary fee, the Person may refer the matter to the FMT for review.
            (4) If the DFSA requires a supplementary fee to be paid, it must issue an invoice to the Person concerned and the Person must pay the fee by the date specified in the invoice.
            Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
            [Amended] DFSA RM122/2013 (Made 14th July 2013). [VER7/07-13]
            [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
            [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

            • FER 1.2.7 Guidance

              1. The application and annual fees already include an element for specified complexity and other circumstances meriting an appropriate increase to the basic fee. However, if, in the DFSA'sG opinion, the reasonably estimated cost of dealing with a matter (based on the time likely to be spent on it) is likely to exceed the amount provided for in these Rules, the DFSAG may impose a supplementary fee to cover the additional time it reasonably expects to spend on the matter. Such circumstances could include, for example:
              (a) complex applications by reason of the applicant's start-up profile, origin, ownership structure or proposed business model;
              (b) cases where it may be necessary to conduct intense supervisory scrutiny of an entity from a risk perspective;
              (c) novel proposals and applications that cover untested ground or untested areas of the regulatory regime;
              (d) if a transaction or event involving a Listed EntityG , such as an acquisition, disposal, takeover, merger or significant corporate event, is likely to cause the DFSAG to incur substantial additional costs; or
              (e) if the DFSAG is likely to spend significant time on an issue affecting a Recognised PersonG , such as if the DFSAG has to liaise with its home supervisor or carry out additional supervisory scrutiny of the PersonG .
              2. The purpose of the supplementary fee is to enable the DFSAG to cover its costs for resources used in exceptional circumstances to deal with particular cases. The supplementary fee is not intended to be a general revenue raising tool, nor is it the DFSA's intention to use it as a means to make profits in relation to particular cases.
              Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
              [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER19/07-10]
              [Amended] DFSA RM145/2014 (Made 1st January 2015) [VER9/01-15]
              [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
              [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • Method of payment

          • FER 1.2.8

            A fee payable under FER must be paid:

            (a) in United States Dollars; and
            (b) by a bank transfer made to the DFSA's bank account.
            Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
            [Amended] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]
            [Amended] DFSA RM167/2016 (Made 10th February 2016). [VER12/04-16]
            [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • Late Payment Fee

          • FER 1.2.9

            (1) If a fee referred to in Rule 1.2.2, 1.2.5 or 1.2.7 is not paid in full by the due date, the non-payment incurs a late payment fee of:
            (a) $1,000 or an amount equal to 3% of the fee due (whichever is the greater); plus
            (b) the fee due shall be increased by 1% for each calendar month, or part of a calendar month, that it remains outstanding after the due date.
            (2) Nothing in this RuleG limits the right of the DFSAG to take any other action.
            Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

            • FER 1.2.9 Guidance

              If a PersonG does not pay a fee by the due date, the PersonG is in breach of a RuleG and the DFSAG is entitled to take action including, but not limited to, taking steps to withdraw the Person'sG authorisation, registration or recognition.

              Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 2 Application Fees

      • FER 2.1 Application for a Licence

        • FER 2.1.1

          (1) An applicant applying for a LicenceG authorising it to carry on one or more Financial ServicesG specified in the left hand column of the table in (2) must pay to the DFSAG :
          (a) the highest of the corresponding fees in the right hand column of that table; plus
          (b) the fee in (3) if any of the specified factors apply.
          (2) This is the table referred to in (1):
          Accepting DepositsG or Providing CreditG . $70,000
          Dealing in Investments as PrincipalG (except as a matched principal). $40,000
          Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG (except as a Captive InsurerG , as a PCCG , or as an ISPVG ). $40,000
          Managing a Collective Investment FundG (except as an Umbrella FundG ) if any Fund to be managed is not a Qualified Investor FundG . $10,000
          Managing a Collective Investment FundG (except as an Umbrella FundG ) if the Funds to be managed will only be Qualified Investor FundsG . $5,000
          Dealing in InvestmentsG as a matched principal. $25,000
          Dealing in Investments as AgentG . $25,000
          Managing AssetsG . $25,000
          Providing CustodyG . $25,000
          Managing a Profit Sharing Investment AccountG . $25,000
          Providing Trust ServicesG (if it acts as trustee of one or more express trusts). $25,000
          Acting as the TrusteeG of a FundG . $25,000
          Arranging Deals in InvestmentsG . $15,000
          Advising on Financial ProductsG . $15,000
          Arranging CustodyG . $15,000
          Insurance IntermediationG . $15,000
          Insurance ManagementG . $15,000
          Providing Trust ServicesG (if it does not act as trustee of any express trust). $15,000
          Operating a Credit Rating AgencyG . $10,000
          Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG as a Captive InsurerG or as an ISPVG . $5,500
          Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG as a PCCG :  
             (a) for the core; and $8,000
             (b) for each cell $1,000
          Providing Fund AdministrationG . $15,000
          Managing an Umbrella FundG :  
             (a) for the UmbrellaG ; and $8,000
             (b) for each Sub-FundG . $1,000
          Arranging Credit and Advising on CreditG $15,000
          Operating a Crowdfunding Platform.G $5,000
          (3) An additional amount equal to 100% of the fee specified under (2) is payable if any one or more of the following factors apply:<
          (a) the applicant has a corporate structure with:
          (i) multiple levels (including the applicant's level); or
          (ii) Group members incorporated in two or more jurisdictions (excluding the DIFC);
          (b) the applicant has, or proposes to establish, a Holding Company in the DIFC;
          (c) the applicant is from a jurisdiction, or intends to carry on business from the DIFC in a jurisdiction, where there is no bilateral memorandum of understanding between the DFSA and the relevant Financial Services Regulator in that jurisdiction;
          (d) the DFSA will act as the consolidated prudential supervisor of the applicant's Financial Group; or
          (e) the DFSA will act as the lead supervisor of part of the applicant's Group.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]
          [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER4/07-10]
          [Amended] DFSA RM100/2012 (Made 24th July 2012) [VER6/07-12]
          [Amended] DFSA RM145/2014 (Made 1st January 2015) [VER9/01-15]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
          [Amended] DSFA RM190/2016 (Made 7th December 2016). [VER13/02-17]
          [Amended] DSFA RM204/2017 (Made 14th June 2017). [VER15/08-17]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]
          [Amended] DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]

        • FER 2.1.2

          (1) An applicant applying for a LicenceG authorising it to carry on one or more of the Financial Services of Operating an ExchangeG and Operating a Clearing HouseG must pay to the DFSAG :
          (a) for Operating an ExchangeG an application fee of $150,000;
          (b) for Operating a Clearing HouseG , an application fee of $150,000; and
          (c) for Operating an ExchangeG and Operating a Clearing HouseG , an application fee of $300,000.
          (2) An applicant referred to in (1) applying for an endorsement to carry on the Financial Service of Operating an Alternative Trading SystemG must pay to the DFSAG an additional application fee of $65,000.
          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 2.1.3

          An applicant under FER Rule 2.1.2(a) or (c) seeking an endorsement to its LicenceG authorising it to maintain an Official List of SecuritiesG must pay to the DFSAG an additional application fee of $150,000.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

        • FER 2.1.4

          An applicant applying for a LicenceG authorising it to carry on the Financial ServiceG of Operating a Representative OfficeG must pay to the DFSAG an application fee of $4,000.

          [Added] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]
          [Amended] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]

        • FER 2.1.5

          An applicant for a LicenceG applying for an authorisation, or for an endorsement, to carry on the Financial Service of Operating an Alternative Trading SystemG must pay to the DFSAG an additional application fee of $65,000.

          [Added] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 2.1.6

          An applicant for a LicenceG must pay to the DFSAG the following additional fee for an application for the following endorsements:

          (a) to act as a Trade RepositoryG , $15,000;
          (b) to carry on a Financial ServiceG with or for a Retail ClientG , $20,000.
          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

          • FER 2.1.6 Guidance

            Apart from the application fees specified for particular endorsements in Rules 2.1.2, 2.1.3, 2.1.5 and 2.1.6, fees are not payable for applications for other endorsements if made at the same time as an initial application for a LicenceG . However, if an application for an endorsement is made after a LicenceG has been granted, a fee will be payable – see for example Rule 2.2.5.

            Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.2 Application to carry on additional Financial Services

        • FER 2.2 Guidance

          Section 2.2 applies to a PersonG that is already licensed (i.e. an Authorised FirmG or Authorised Market InstitutionG ), that applies for a further authorisation or endorsement.

          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 2.2.1

          An Authorised FirmG applying for authorisation to carry on additional Financial Services must pay to the DFSAG an application fee equal to the difference between:

          (a) the basic fee which would be payable under FER Rule 2.1.1 (1) if it were an applicant for a LicenceG in terms currently being sought; and
          (b) the basic fee which would be payable under FER Rule 2.1.1 (1) if it were an applicant for a LicenceG in terms of that currently held.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]

        • FER 2.2.2

          An Authorised Market InstitutionG applying for authorisation to carry on an additional Financial ServiceG must pay to the DFSAG :

          (a) an application fee of $150,000 for the Financial ServiceG of Operating a Clearing HouseG ; or
          (b) an application fee of $150,000 for the Financial ServiceG of Operating an ExchangeG .

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

        • FER 2.2.3

          An Authorised Market InstitutionG applying for an endorsement on its LicenceG authorising it to maintain an Official List of SecuritiesG must pay to the DFSAG an additional application fee of $150,000.


          Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

        • FER 2.2.4

          An Authorised FirmG applying for an authorisation, or an Authorised Market InstitutionG applying for an endorsement, to carry on the additional Financial Service of Operating an Alternative Trading SystemG must pay to the DFSAG an additional application fee of $65,000.


          Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

        • FER 2.2.5

          An Authorised PersonG must pay to the DFSAG the following fee for an application for the following endorsements:

          (a) to act as a Trade RepositoryG , $15,000;
          (b) to carry on a Financial ServiceG with or for a Retail ClientG , $20,000;
          (c) to conduct Islamic Financial BusinessG , $5,000;
          (d) to hold or control Client AssetsG , $5,000;
          (e) to hold Insurance MoniesG , $5,000;
          (f) to conduct Insurance IntermediationG activities in respect of contracts of Long-Term InsuranceG , $5,000.
          Derived from [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

          • FER 2.2.5 Guidance

            Only paragraphs (a) and (c) of Rule 2.2.5 are relevant to Authorised Market InstitutionsG .

            Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 2.2.6 [Deleted]

          [Deleted] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 2.2.6

          (1) If an Authorised FirmG applies to the DFSAG to change the scope of its Licence, and no fee is otherwise payable under this section for the application, the Authorised FirmG must pay to the DFSAG an application fee of $10,000 for the application.
          (2) Paragraph (1) does not apply to an application that is only to remove an authorisation, endorsement, activity or financial product from a LicenceG .

          [Added] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]
          [Amended] DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]

          • Guidance

            The reference to a change to the "scope" of a LicenceG covers any change to an authorisation, endorsement, activity, financial product, restriction or condition on the LicenceG (for which an application fee is not otherwise payable under this section). For example, an application to amend or remove a restriction on the LicenceG or to enable a firm to deal in DebenturesG instead of SharesG or to add a product to the list of InvestmentsG that the firm may advise on.

            Derived from DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]

      • FER 2.3 Application to register as a Registered Auditor or Audit Principal

        • FER 2.3.1

          An applicant for registration as a Registered AuditorG must pay to the DFSAG an application fee of $7,000.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 2.3.2

          (1) An applicant for registration as an Audit PrincipalG must pay to the DFSAG an application fee of $500.
          (2) The fee in (1) does not apply to an application that is made in conjunction with an application for registration as a Registered AuditorG .
          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.4 Application to register a Public Fund

        • FER 2.4.1

          The Fund ManagerG or the PersonG proposing to be the Fund ManagerG of a Domestic FundG which is a Public FundG , who is applying to register the FundG , must pay to the DFSAG an application fee of $1,000plus, where the Public FundG is an Umbrella FundG , $1,000for each of its sub-funds.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER4/07-10]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.5 [deleted]

        • FER 2.5.1 [deleted]

          [Deleted] DFSA RM72/2010 (Made 11th July 2010) [VER4/07-10]

      • FER 2.6 Application for Recognition as a Recognised Body or Recognised Member

        • FER 2.6.1

          An applicant for RecognitionG as a Recognised BodyG must pay to the DFSAG an application fee of $15,000.


          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

        • FER 2.6.2

          An applicant for RecognitionG as a Recognised MemberG must pay to the DFSAG an application fee of $1,000.

          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.7 Applications relating to Authorised Individuals and Key Individuals

        • FER 2.7.1

          An Authorised FirmG applying to the DFSA:

          (a) for Authorised IndividualG status for an individual;
          (b) to amend an Authorised Individual's authorisation to include a new Licensed FunctionG ; or
          (c) to substitute one Authorised IndividualG for another performing a particular Licensed FunctionG in the Authorised FirmG ,

          must pay to the DFSAG an application fee of $500 for each Authorised IndividualG for whom it is seeking authorisation; to amend the scope of his authorisation; or to substitute as an Authorised IndividualG (as the case may be).

          [Added] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 2.7.2

          An Authorised Market InstitutionG applying to the DFSAG :

          (a) for Key IndividualG status for an individual;
          (b) to amend a Key Individual'sG authorisation to include a new Licensed FunctionG ; or
          (c) to substitute one Key IndividualG for another performing a particular Licensed FunctionG in the Authorised Market InstitutionG ,

          must pay to the DFSAG an application fee of $500 for each Key IndividualG for whom it is seeking authorisation; to amend the scope of his authorisation; or to substitute as a Key IndividualG (as the case may be).

          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

          • FER 2.7.2 Guidance

            Rules 2.7.1 and 2.7.2 apply if a PersonG is already licensed by the DFSAG and applies to add or change an Authorised IndividualG or Key IndividualG . A fee is not payable for an application for Authorised IndividualG or Key IndividualG status if the application is made at the same time as an initial application for a LicenceG .

            Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.8 Application to add a new cell to an existing PCC

        • FER 2.8.1

          A Licenced PCCG applying to add one or more new cells must pay to the DFSAG $1,000 in respect of each cell to be added.

          [Added] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]

      • FER 2.9 Application for admittance of Securities to the Official List

        • FER 2.9.1

          An applicant for admission of SecuritiesG to the Official List of SecuritiesG must pay to the DFSAG an application fee of $2,500.

          [Added] DFSA RM83/2011 (Made 30th November 2011). [VER5/11-11]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

          • FER 2.9.1 Guidance

            An applicant for admission of SecuritiesG to the Official List of SecuritiesG under Rule 2.9.1 may include an applicant who is an Exempt Offeror (as defined in Article 13(2) of the Markets Law)..


            Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

      • FER 2.10 Application Relating to a Business Transfer Scheme

        • FER 2.10.1

          An Authorised FirmG applying under GEN Rule 12.1.5 for DFSAG consent to a transfer scheme must pay to the DFSAG an application fee of $5,000.

          [Added] RM159/2015 (Made 9th December 2015). [VER11/02-16]

      • FER 2.11 Application for a waiver or modification

        • FER 2.11.1

          (1) An applicant for a waiver or modification of any RuleG in the RulebookG or any ArticleG of the Markets LawG must pay to the DFSAG an application fee of $5,000 if, in the DFSA's opinion, the application involves an issue that is novel or complex or will for any other reason require the DFSAG to spend a significant amount of time on the application.
          (2) The fee in (1) does not apply if the application for a waiver or modification is made in conjunction with an application for a LicenceG .
          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

          • FER 2.11.1 Guidance

            The DFSAG will in some cases determine that a waiver or modification should be standardised, that is, made available to any applicant meeting certain criteria. No fee will be required for an application for a standard waiver or modification. In other cases, the DFSAG will assess on a case-by-case basis whether the criteria for a fee set out in Rule 2.11.1 apply.

            Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 3 Annual Fees

      • FER 3.1 Authorised Firms (initial period)

        • FER 3.1.1

          (1) An Authorised FirmG must pay to the DFSAG the initial annual fee specified in (2) for the initial period of regulation between the date of the grant of its LicenceG and the end of the year.
          (2) The initial annual fee is the fee which was payable at the time of its application for the LicenceG , multiplied by the number of whole calendar months between the date of the grant of the LicenceG and the end of the year divided by 12.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]

      • FER 3.2 Authorised Firms (subsequent periods)

        • FER 3.2.1

          (1) An Authorised FirmG must pay to the DFSAG an annual fee for any period of regulation after the initial period described in FER Rule 3.1.1.
          (2) The annual fee is:
          (a) the highest of the fees specified in the right hand column of the table in (3) corresponding to the Financial ServicesG specified in the left hand column of the table which the Authorised FirmG is authorised to carry on under its LicenceG ; plus
          (b) the amount specified in the table to FER Rule 3.2.3 for each applicable factor specified in that table; plus
          (c) $1,000 for each complete $1,000,000 of expenditure, where "expenditure" has the meaning given in FER Rule 3.2.2 ; plus
          (d) $65,000, if the Authorised FirmG is carrying on the Financial Service of Operating an Alternative Trading SystemG ; plus
          (e) $1,000 for each additional Financial ServiceG specified on its LicenceG (excluding the relevant Financial ServiceG with the highest fee that applies under (a) and, if applicable, the Financial ServiceG in (d)).
          (2A) For the purposes of calculating the annual fee under (2) an amount referred to:
          (a) in (2)(b) is payable only for the calendar year 2020 and any later calendar year; and
          (b) in (2)(e) is to be calculated as $500 per additional Financial ServiceG instead of $1,000 for the 2018 calendar year only.
          (3) This is the table referred to in (2) (a):
          Accepting DepositsG or Providing CreditG .
          (a) for the calendar year 2018:
          (b) for the calendar year 2019, and any later calendar year:
          $85,000

          $100, 000
          Dealing in InvestmentsG as PrincipalG (except as a matched principal).
          (a) for the calendar year 2018:
          (b) for the calendar year 2019, and any later calendar year:
          $45,000

          $50,000
          Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG (except as a Captive InsurerG , as a PCCG , or as an ISPVG ).
          (a) for the calendar year 2018:
          (b) for the calendar year 2019, and any later calendar year:
          $45,000

          $50,000
          Managing a Collective Investment FundG (except as an Umbrella FundG ) if any Fund managed is not a Qualified Investor FundG . $10,000
          Managing a Collective Investment FundG (except as an Umbrella FundG ) if the Funds managed are only Qualified Investor FundsG . $5,000
          Dealing in InvestmentsG as a matched principal. $25,000
          Dealing in InvestmentsG as AgentG . $25,000
          Managing AssetsG . $25,000
          Providing CustodyG . $25,000
          Managing a Profit Sharing Investment AccountG . $25,000
          Providing Trust ServicesG (if it acts as trustee of one or more express trusts). $25,000
          Acting as the TrusteeG of a FundG . $25,000
          Arranging Deals in InvestmentsG . $15,000
          Advising on Financial ProductsG . $15,000
          Arranging CustodyG . $15,000
          Insurance IntermediationG . $15,000
          Insurance ManagementG .
          (a) for the calendar year 2018:
          (b) for the calendar year 2019, and any later calendar year:
          $17,000

          $20,000
          Providing Trust ServicesG (if it does not act as trustee of any express trust). $15,000
          Operating a Credit Rating AgencyG .
          (a) for the calendar year 2018:
          (b) for the calendar year 2019, and any later calendar year:
          $12,500

          $15,000
          Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG where the Authorised FirmG is carrying on business as a Captive InsurerG or as an ISPVG . $5,500
          Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG where the Authorised FirmG is carrying on business as a PCCG :  
             (a) for the core; and $8,000
             (b) for each cell $1,000
          Providing Fund AdministrationG . $15,000
          Managing an Umbrella Fund:  
             (a) for the Umbrella; and $8,000
             (b) for each Sub-Fund. $1,000
          Arranging Credit and Advising on CreditG $15,000
          Operating a Crowdfunding Platform.G . $10,000
          (4) The annual fee for an Authorised FirmG authorised as a Representative OfficeG is $4,000.
          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]
          [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER4/07-10]
          [Amended] DFSA RM100/2012 (Made 24th July 2012) [VER6/07-12]
          [Amended] DFSA RM145/2014 (Made 1st January 2015) [VER9/01-15]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
          [Amended] DSFA RM190/2016 (Made 7th December 2016). [VER13/02-17]
          [Amended] DSFA RM204/2017 (Made 14th June 2017). [VER15/08-17]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]
          [Amended] DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]

        • FER 3.2.2

          (1) For the purposes of FER Rule 3.2.1 and subject to (2), "expenditure" means:
          (a) in the case of an Authorised FirmG which is a Domestic FirmG and to which PIBG applies, its annual expenditure calculated as the sum of the amounts entered in its PIBG regulatory return in respect of "administrative expenses", "depreciation" and "other operating expenses" in relation to business carried on in or from the DIFCG including business carried on through a branch in another jurisdiction;
          (b) in the case of an Authorised FirmG which operates in the DIFCG through a BranchG and to which PIBG applies, its annual expenditure calculated as the sum of the amounts entered in its PIBG regulatory return in respect of "administrative expenses", "depreciation" and "other operating expenses" in relation to business carried on in or from the DIFCG ; and
          (c) in the case of an Authorised FirmG to which PING applies, its annual expenditure as set out in its IN100 or IN30 Annual Regulatory ReturnG , as the case may be, in respect of business carried on in or from the DIFCG including, in the case of a Domestic FirmG , business carried on through a branch in another jurisdiction;
          for the last financial year for which the Authorised FirmG has submitted regulatory returns to the DFSAG .
          (2) If the last financial year referred to in (1) was not twelve months in duration, the expenditure figure shall be increased or decreased on a pro rata basis to produce an equivalent twelve month figure.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]
          [Amended] DFSA RM167/2016 (Made 10th February 2016). [VER12/04-16]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

          • FER 3.2.2 Guidance

            The effect of FER Rule 3.2.2 is that if an Authorised FirmG has not, in accordance with the RulesG , submitted its first Annual Regulatory ReturnG , then the amount of expenditure is set at zero for the purpose of FER Rule 3.2.1 (2) (c).

            Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
            [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 3.2.3

          This is the table referred to in Rule 3.2.1(2)(b):

          Factor Amount
          Systemically Important Financial Institutions

          An Authorised Firm that meets both of the following conditions:
          (a) it is in prudential Category 1, 2 or 5 under PIB or it is an InsurerG ; and
          (b) it is part of a GroupG included on the list of global systemically important financial institutions published by the Financial Stability BoardG .
          An amount equal to 100% of the fee referred to in Rule 3.2.1(2)(a).
          DFSAG is the consolidated or lead supervisor

          An Authorised FirmG for which the DFSAG acts as the consolidated prudential supervisor of its Financial Group or as a lead supervisor of part of its Group.


          An amount equal to 100% of the fee referred to in Rule 3.2.1(2)(a).
          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

          • FER 3.2.3 Guidance

            If both of the factors set out in the table to Rule 3.2.3 are applicable to an Authorised FirmG , then the specified amounts are cumulative.

            Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 3.3 Authorised Market Institutions (initial period)

        • FER 3.3.1

          (1) An Authorised Market InstitutionG must pay to the DFSAG an initial annual fee specified in (2) for the initial period of regulation between the date of the grant of its LicenceG and the end of the year.
          (2) The initial annual fee is $100,000, multiplied by the number of whole calendar months between the date of the grant of the LicenceG and the end of the year and divided by 12.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

      • FER 3.4 Authorised Market Institutions (subsequent periods)

        • FER 3.4.1

          An Authorised Market InstitutionG must pay to the DFSAG the applicable annual fee prescribed in Rules 3.4.2, 3.4.3 and 3.4.4 for any period of regulation after the initial period described in Rule 3.3.1.


          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

        • FER 3.4.2

          (1) An Authorised Market InstitutionG carrying on the Financial ServiceG of Operating an ExchangeG must pay to the DFSAG an annual fee of $100,000.
          (2) An Authorised Market InstitutionG carrying on the Financial ServiceG of Operating a Clearing HouseG must pay to the DFSAG an annual fee of $100,000.
          (3) An Authorised Market InstitutionG carrying on both of the Financial ServicesG of Operating an ExchangeG and Operating a Clearing HouseG must pay to the DFSAG an annual fee of $200,000.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

        • FER 3.4.3

          An Authorised Market InstitutionG maintaining an Official List of SecuritiesG must pay to the DFSAG an annual fee of $75,000.


          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

        • FER 3.4.4

          An Authorised Market InstitutionG carrying on the Financial Service of Operating an Alternative Trading SystemG must pay to the DFSAG an annual fee of $65,000.


          Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

      • FER 3.5 Registered Auditors (initial period)

        • FER 3.5.1

          (1) A Registered AuditorG permitted under its registration to conduct audits of Authorised PersonsG (where those Persons are Domestic FirmsG or Domestic FundsG ) must pay to the DFSAG an initial annual fee for the initial period of registration between the date of the grant of registration and the end of the year calculated in accordance with (2).
          (2) The initial annual fee is $7,000 multiplied by the number of whole calendar months between the date of the grant of the registration and the end of the calendar year and then divided by 12.
          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]

      • FER 3.6 Registered Auditors (subsequent periods)

        • FER 3.6.1

          (1) A Registered AuditorG permitted under its registration to conduct audits of Authorised PersonsG (where those Persons are Domestic FirmsG ) or Domestic FundsG must, subject to Rule 3.6.3, pay to the DFSAG an annual fee calculated in accordance with (2).
          (2) The amount of the fee payable is specified in the right hand column of the table and is dependent upon the number of audits of Authorised PersonsG which are Domestic FirmsG and audits of Domestic FundsG specified in the left hand column.

          Audits reported in Registered Auditor'sG Annual Information ReturnG for the previous calendar year Annual fee
          0–15 $7,000
          16–30 $7,000 plus $500 per audit conducted above 15.
          31 or more $14,500 plus $1,000 per audit conducted above 30.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 3.6.2

          (1) A Registered AuditorG permitted under its registration to conduct audits of Public Listed CompaniesG must, subject to Rule 3.6.3, pay to the DFSAG an annual fee calculated in accordance with (2).
          (2) The amount of the fee is $5,000 per audit conducted of a Public Listed CompanyG as reported in the Registered Auditor'sG Annual Information ReturnG for the previous calendar year.
          (3) No fee is payable under this Rule if the Registered AuditorG has not conducted any audits of Public Listed CompaniesG in the previous calendar year.

          [Added] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 3.6.3

          A Registered AuditorG permitted under its registration to conduct audits of both:

          (a) Authorised PersonsG (where those persons are Domestic FirmsG ) or Domestic FundsG ; and
          (b) Public Listed CompaniesG ,

          must pay to the DFSAG an annual fee equal to the amount calculated under Rule 3.6.1 plus the amount calculated under Rule 3.6.2.

          [Added] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]

      • FER 3.7 Designated Non-Financial Businesses and Professions (initial period)

        • FER 3.7.1

          A DNFBPG must pay to the DFSAG an annual fee of $6,000 for the initial period of registration between the date of the grant of registration and the end of the year.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM122/2013 (Made 14th July 2013). [VER7/07-13]
          [Amended] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 3.8 Designated Non-Financial Businesses and Professions (subsequent periods)

        • FER 3.8.1

          A DNFBPG must pay to the DFSAG an annual fee of $6,000 for any period of registration after the initial period described in FER Rule 3.7.1

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM122/2013 (Made 14th July 2013). [VER7/07-13]
          [Amended] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 3.9 Domestic Funds (initial period)

        • FER 3.9.1

          (1) A Fund ManagerG must pay to the DFSAG in respect of each Domestic FundG for which it is the Fund ManagerG the initial annual fee prescribed in (3) for the period immediately following registration or notification until the end of the year.
          (2) The initial annual fee must be paid to the DFSAG :
          (a) in the case of a Public FundG , at the time of registration; and
          (b) in the case of an Exempt FundG or Qualified Investor FundG , at the time of notification to the DFSAG pursuant to Article 34 of the Collective Investment Law 2010.
          (3) The initial annual fee is $4,000.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM61/2008 (Made 5th November 2008). [VER5/11-08]
          [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER4/07-10]
          [Amended] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]

      • FER 3.10 Domestic Funds (subsequent periods)

        • FER 3.10.1

          (1) A Fund ManagerG must pay to the DFSAG in respect of each Domestic FundG for which it is the Fund ManagerG the annual fee prescribed in (2) for any period after the initial period described in FER Rule 3.9.1.
          (2) The annual fee for any period after the initial period is $4,000.
          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM61/2008 (Made 5th November 2008). [VER2/11-08]
          [Amended] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]
          [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER4/07-10]

      • FER 3.11 Listed Entities

        • FER 3.11.1

          (1) A Listed EntityG that has equity securities admitted to the Official List of SecuritiesG must pay to the DFSAG an annual fee consisting of $2,500 plus the additional fee (if any) calculated in accordance with the table to this Rule.

          Table
          Additional Fee
          Market capitalisation in USD millions of the Listed EntityG Fee payable in respect of each USD million of market capitalisation
          0 to 100 $0
          >100 to 500 $5
          >500 to 5,000 $1
          >5,000 to 10,000 $0.50
          >Greater than 10,000 $0.25
          (2) In (1), "equity securities" means SharesG , CertificatesG over SharesG and WarrantsG over SharesG .
          (3) For the purposes of the table to (1), the market capitalisation of the Listed EntityG must be determined as at the last business day in November of the year before the calendar year to which the annual fee relates and is to be based on the official closing price on the AMIG at the end of that day.

          Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

          • FER 3.11.1 Guidance

            1. The market capitalisation of a Listed EntityG is calculated by multiplying the number of listed equity securities by the closing price per equity security on the relevant day.
            2. The following is an example of how the annual fee under Rule 3.11.1 is calculated. A Listed EntityG has equity securities admitted to the Official List of SecuritiesG . On the last business day of November of the year before the relevant calendar year, it had a market capitalisation of USD 250 million. Its annual fee for the calendar year will be calculated as follows:
            Fixed fee $2,500
            Additional fee, consisting of:  
                  initial USD 100mn of capitalisation $0 (100 x 0)
                  remaining USD 150mn of capitalisation $750 (150 × 5)
            Total $3,250

            Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

        • FER 3.11.2 [Deleted]

          [Deleted] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

          • FER 3.11.2 Guidance [Deleted]

            [Deleted] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 3.12 Recognised Body (Initial and subsequent periods)

        • FER 3.12.1

          (1) A Recognised BodyG must pay to the DFSA the initial annual fee specified in (2) for the initial period of recognition between the date of its recognition and the end of the year.

          (2) The initial annual fee is calculated as the annual fee specified in Rule 3.12.2, multiplied by the number of whole calendar months between the date of recognition and the end of the year divided by 12.

          Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 3.12.2

          A Recognised BodyG must, after the initial period referred to in Rule 3.12.1, pay to the DFSAG an annual fee of $1,000.

          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

          • FER 3.12.2 Guidance

            Recognised MembersG do not have to pay an annual fee.

            Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 3.13 Transitional

        Derived from DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]

        • FER 3.13.1

          (1) Except as provided in (2), the amendment made by Instrument No. 214 of 2018 relating to the annual fee for Providing Trust ServicesG does not affect any annual fee that has already been paid or is payable by an Authorised FirmG under this chapter in respect of the 2018 calendar year.
          (2) If an Authorised FirmG is granted a LicenceG after the commencement of the amendment referred to in (1), then for the purposes of calculating the initial annual fee payable by the Authorised FirmG under FER section 3.1, the amendment to the annual fee is to be taken into account.
          Derived from DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]

    • FER 4 Filing Fees

      • FER 4.1 Filing a Prospectus, Issue Note or other document for approval

        • FER 4.1.1

          (1) A PersonG filing a ProspectusG or other document with the DFSAG , for approval in accordance with Rule 2.4.1(i)(iii), section 2.6, section 2.7, section 6.3 or Rule 9.7.4 of MKT must pay to the DFSAG the applicable fee in the table in (2).
          (2) This is the table referred to in (1):
          Filing event Equity Securities Non-Equity Securities
          Prospectus or equivalent document $35,000 $10,000
          Registration Statement $27,500 $7,500
          Securities Note and Summary $7,500 $2,500
          Supplementary Prospectus $2,000 $2,000
          Programme update n/a $8,000
          Any other document which is required by the Markets Law
          or Markets Rules to be approved by the DFSAG
          $5,000 $3,000
          (3) In (2), "equity securities" means SharesG , CertificatesG over SharesG and WarrantsG over SharesG , and "non-equity securities" means all other SecuritiesG .
          (4) The fee payable under (1) must be paid to the DFSAG before the filing of the ProspectusG or other document.
          (5) A ProspectusG or other document will not be considered to have been properly filed until the fee payable under (1) has been paid to the DFSAG .

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM83/2011 (Made 30th November 2011). [VER5/11-11]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

          • FER 4.1.1 Guidance

            The DFSAG may levy a supplementary fee under Rule 1.2.7 if it appears to it that approval of a ProspectusG or other document is likely to cause it to incur substantial additional costs, for example, because the Prospectus or transaction is complex. In such cases, the DFSAG will usually discuss with the IssuerG the level of supplementary fee before, or as soon as possible after the submission of an application for approval of the document.

            Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
            [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 4.2 Filing a reference with the FMT

        • FER 4.2.1

          A fee of $5,000 must be paid to the DFSAG before a reference to the FMTG is considered filed with the FMTG .

          [Added] DFSA RM55/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]

        • FER 4.2.2

          The president of the FMTG may waive all or part of the $5,000 filing fee if the Person commencing the reference is an individual and if, in the circumstances, the president considers it is equitable to do so.

          [Added] DFSA RM55/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]
          [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 4.3 Seeking consent to commence a regulatory proceeding before the FMT

        • FER 4.3.1

          A fee of $5,000 must be paid to the DFSAG by a PersonG seeking the consent of the DFSAG to bring a regulatory proceeding before the FMTG .


          [Added] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]

        • FER 4.3.2

          The DFSAG may waive all or part of the $5,000 fee if the PersonG seeking the consent is an individual and if, in the circumstances, the DFSAG considers it is equitable to do so.


          [Added] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]

    • FER 5 Takeover Fees

      • FER 5.1 Bid Documents

        • FER 5.1.1

          (1) FeesG are payable on Bid DocumentsG and the BidderG is responsible for the payment to the DFSAG of the applicable fee in accordance with (2) and (3).
          (2) The BidderG must pay to the DFSAG the fee specified in the right hand column of the table in (4) which corresponds to the value of the BidG specified in the left hand column of the table.
          (3) In regard to the value of the BidG for the purposes of (2):
          (a) where there are alternative BidsG , the alternative with the highest value must be used to calculate the value of the BidG . BidsG for all classes of equity Share capital must be included in the calculation of the value of the BidG , but BidsG for non-equity Share capitalG , ConvertiblesG , OptionsG and the like must not;
          (b) when a merger is effected by BidsG for both entities by a new entity created to make the BidsG , the fee will be determined by the value of the lower of the two BidsG ; and
          (c) when the fee falls to be calculated on the basis of the value of the SecuritiesG to be issued as consideration, it must be computed by reference to the closing price of the relevant SecuritiesG at the last practicable date before the publication of the Bid DocumentG as stated in that document or, as the case may be, by reference to the estimated value of any unlisted SecuritiesG consideration given in the document.
          (4) This is the table referred to in (2):
          Value of the Bid in US$ million Fee in US$
          Less than 5 7,500
          Over 5 to 25 15,000
          Over 25 to 100 55,000
          Over 100 to 500 150,000
          Over 500 370,000

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
          [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

          • FER 5.1.1 Guidance

            (1) Where a BidderG issues a revised Bid DocumentG that increases the value of the BidG , the DFSAG will require payment of the difference between the fee that would be applicable under the table in FER Rule 5.1.1 (4) in respect of the value of the revised BidG , and the fee previously paid in respect of the value of the initial BidG .
            (2) In relation to the giving of an estimated value of any unlisted SecuritiesG consideration, see TKO Rule 1.4.1 (m).

            Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]

        • FER 5.1.2

          In all cases a note setting out the calculation of the fee must accompany the Bid DocumentG provided to the DFSAG . If the BidG is revised, a similar note must be provided with the revised Bid DocumentG and any necessary further payment.

          Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]

    • FER 6 Fees for Other Supervisory Events

      • Application to approve change of control

        • FER 6.1.1

          A PersonG applying for written approval to acquire or to increase its level of control in a Domestic FirmG must pay to the DFSAG an application fee of:

          (a) $5,000 if the application is complex; or
          (b) $3,000 in any other case.
          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 6.1.2

          A PersonG applying for written approval to become the ControllerG of or to increase its level of control in an Authorised Market InstitutionG must pay to the DFSAG an application fee of:

          (a) $5,000 if the application is complex; or
          (b) $3,000 in any other case.
          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 6.1.3

          An application is 'complex' for the purposes of Rule 6.1.1 or 6.1.2 if the PersonG who proposes to acquire, become a ControllerG of, or increase its level of control in, the relevant Authorised PersonG :

          (a) is from a jurisdiction where there is no bilateral memorandum of understanding in place between the DFSAG and the relevant Financial Services RegulatorG in that jurisdiction;
          (b) has no experience of operating or controlling the type of business to which the application relates;
          (c) has previously contravened any legislation or been the subject of enforcement, supervisory or civil action by a government body or agency, the DFSAG or any other Financial Services RegulatorG ;
          (d) is a ControllerG of another Authorised PersonG in the DIFC and approval of the application may give rise to a material conflict of interest; or
          (e) proposes, in connection with the acquisition or change of control, to change the business model, business activities or senior management of the Authorised PersonG .
          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • Request to withdraw a Licence

        • FER 6.1.4

          An Authorised PersonG applying to have its LicenceG withdrawn must pay to the DFSAG an application fee of $5,000 if, when it applies, the Authorised PersonG :

          (a) Provides CustodyG ;
          (b) has DepositsG that must be repaid;
          (c) holds or controls Client AssetsG or Insurance MoniesG ;
          (d) has a significant liability to a creditor;
          (e) is the subject of a civil claim made by a ClientG ; or
          (f) is the subject of enforcement, supervisory or civil proceedings by the DFSAG or a Financial Services RegulatorG .
          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • Opening a branch or subsidiary in another jurisdiction

        • FER 6.1.5

          (1) A Domestic FirmG must pay to the DFSAG the fee specified in (2) if it notifies the DFSAG of either:
          (a) the proposed establishment of a branch office or subsidiary outside the DIFC; or
          (b) the proposed Major AcquisitionG of a Body CorporateG outside the DIFC.
          (2) The notification fee under (1) is an amount equal to 50% of the fee that applies under Rule 3.2.1(2)(a).
          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 7 Late Returns

      • Fees for late returns or reports

        • FER 7.1.1.

          This section applies to each of the following Persons:

          (a) an Authorised PersonG ;
          (b) a Registered AuditorG ;
          (c) a Recognised BodyG or Recognised MemberG ; or
          (d) a Relevant PersonG as defined in AML Rule 1.1.2.
          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 7.1.2

          (1) If a PersonG to whom this section applies is required to provide a return or a report to the DFSA under a RuleG , and fails to provide the return or report on or before the due date or within the period specified in the RuleG , that PersonG must pay to the DFSA a late submission fee of $1,000.
          (2) A PersonG is not required to pay more than $4,000 under (1) for returns or reports that it fails to provide on time in any single calendar year.
          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 7.1.3

          Nothing in this section limits the right of the DFSA to take any other action.

          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

          • FER 7.1.3 Guidance

            1. This section applies to returns or reports required to be provided to the DFSA under the RulebookG by a due date or within a specified period, including, without limitation, returns or reports required to be provided under GEN, AML, PIB, PIN, REC and AUD. It does not apply to a report that the DFSA requires a PersonG to provide under a discretionary power e.g. an independent expert's report.
            2. The fees in this section are aimed at allowing the DFSA to recover some of its costs in following up failures to submit returns or reports.
            3. Multiple fees may be payable by a PersonG under this section if the PersonG fails to provide more than one return or report on time. However, the amount of late fees is capped at $4,000 for returns or reports due in a single calendar year.
            4. If a return or a report is not submitted by the date on which it is due, the Person is in breach of a RuleG and, in addition to being liable to pay the fee under this section, the DFSA is entitled to take action including, but not limited to, taking steps to withdraw its authorisation or registration.
            Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]