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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 5.10 Due Diligence

    • COB 5.10.1

      A Trust Service ProviderG must, at all times, have verified documentary evidence of the settlors, trustees (in addition to the Trust Service ProviderG itself) and principal named beneficiaries of trusts for which it Provides Trust ServicesG . In the case of discretionary trusts with the capacity for the trustee to add further beneficiaries, a Trust Service ProviderG must also have verified, where reasonably possible, documentary evidence of any PersonG who receives a distribution from the trust and any other PersonG who is named in a memorandum or letter of wishes as being a likely recipient of a distribution from a trust.

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

    • COB 5.10.2

      A Trust Service ProviderG must demonstrate that it has knowledge of the source of funds that have been settled into trusts or have been used to provide capital to companies, or have been used in transactions with which the Trust Service ProviderG has an involvement.

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