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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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
Financial Markets Tribunal

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  • General Requirements

    • COB 6.11.2

      (1) An Authorised FirmG which holds or controls Client MoneyG must comply with sections 6.12 and 6.14.
      (2) An Authorised FirmG which holds or controls Client InvestmentsG or Provides CustodyG must comply with sections 6.13 and 6.14.
      (3) An Authorised Firm which Arranges Custody must comply with the requirements in COB Rule A6.5.1A (on suitability of non-DIFC custodians) and A6.7.1(1) (on disclosure) in APP 6 and in section 6.14 (Record keeping).
      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]
      [Amended] DFSA RM66/2009 (Made 1st August 2009). [VER16/08-09]
      [Amended] DSFA RM185/2016 (Made 7th December 2016). [VER28/02-17]

    • COB 6.11.3

      (1) An Authorised FirmG must have systems and controls to ensure that Client AssetsG are identifiable and secure at all times.
      (2) Where the Authorised FirmG holds a mandate, or similar authority over an account with a third party, in the Client'sG own name, its systems and controls must:
      (a) include a current list of all such mandates and any conditions placed by the ClientG or by the Authorised FirmG on the use of the mandate;
      (b) include the details of the procedures and authorities for the giving and receiving of instructions under the mandate; and
      (c) ensure that all TransactionsG entered into using such a mandate are recorded and are within the scope of the authority of the EmployeeG and the Authorised FirmG entering into such TransactionsG .
      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

      • COB 6.11.3 Guidance

        Authorised FirmsG are reminded that they must ensure that their auditor produces a Client Money Auditor's ReportG and a Safe Custody Auditor's ReportG as applicable, in accordance with GEN 8.6.

        [Added] DFSA RM66/2009 (Made 1st August 2009). [VER16/08-09]