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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
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  • COB 5.5 Dual Control

    • COB 5.5.1

      The Trust Service ProviderG must have adequate internal controls, including having two PersonsG with appropriate skills and experience managing the business.

      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

    • COB 5.5.2

      While a Trust Service ProviderG may have a single PersonG with overall responsibility, at least another PersonG must have the skills and experience to be able to run the business of the Trust Service ProviderG in the absence of the senior PersonG and must be in a position to challenge the actions of the senior PersonG where they consider that those actions may be contrary to the provisions of DIFC Laws, Rules or Regulations or any other applicable legislation, may not be in the interests of the ClientG , or may be contrary to sound business principles.

      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]