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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Archive
Rulebook Modules
Conduct of Business Module (COB) [VER34/01-20]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices

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  • COB 5.11 Fitness and Propriety of Persons Acting as Trustees

    • COB 5.11.1

      Where a Trust Service ProviderG arranges for a PersonG who is not an employee of the Trust Service ProviderG to act as trustee for a ClientG of the Trust Service ProviderG , the Trust Service ProviderG must ensure that such PersonG is fit and proper.

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

    • COB 5.11.2

      A Trust Service ProviderG must notify the DFSA of the appointment of a PersonG under COB Rule 5.11.1, including the name and business address if applicable and the date of commencement of the appointment.

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

    • COB 5.11.3

      Prior to the appointment of such a PersonG to act as a trustee, the Trust Service ProviderG must take reasonable steps to ensure that the PersonG has the required skills, experience and resources to act as a trustee for a ClientG of the Trust Service ProviderG .

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

    • COB 5.11.4

      A Trust Service ProviderG must notify the DFSA immediately if the appointment of such a PersonG is or is about to be terminated, or on the resignation of such PersonG , giving the reasons for the resignation and the measures which have been taken to ensure that a new trustee has been appointed.

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

    • COB 5.11.5

      A PersonG appointed to act as trustee for a ClientG of a Trust Service ProviderG who is not an EmployeeG of the Trust Service ProviderG , must agree in writing to be bound by and comply with the same legal and regulatory requirements as if he were an EmployeeG of the Trust Service ProviderG .

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