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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Glossary Module (GLO) [VER44/07-19]
GLO 2 Glossary
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  • [ L ] [Large Exposure—Long-Term Insurance Liabilities]

    • Large Exposure

      An ExposureG , whether in an Authorised Firm'sG Non-Trading BookG or Trading BookG , or both, to a CounterpartyG or GroupG of Closely RelatedG CounterpartiesG or a GroupG of CounterpartiesG connected to the Authorised FirmG which in aggregate equals or exceeds 10% of the Authorised Firm'sG Capital ResourcesG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Licence

      A LicenceG granted by the DFSAG under Chapter 2 of Part 3 of the Regulatory LawG 2004.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Licence Endorsement

      an endorsement made by the DFSAG on a LicenceG that permits an Authorised PersonG to carry on an activity prescribed under Article 44 of the Regulatory Law 2004.

      [Added] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Licensed Director

      The Licensed FunctionG described in GEN Rule 7.4.3.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      Amended in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]

    • Licensed Function

      (1) in relation to an Authorised FirmG , a function described in GEN section 7.4; and
      (2) in relation to an Authorised Market InstitutionG , a function described in AMI section 5.3.
      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      Amended in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]
      [Amended] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Licensed Partner

      The Licensed FunctionG described in GEN Rule 7.4.4.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      Amended in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]

    • Licensed Person

      In relation to a Passported FundG , a PersonG who is licensed or otherwise authorised by the Home RegulatorG to Promote FundsG .

      Derived from DFSA RM236/2019 (Made 20th February 2019). [VER43/02-19]

    • Licensed Representative [Deleted]

      Deleted in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]

    • Licensing Requirements

      The requirements set out in AMI section 7.2 in relation to the granting of a LicenceG to an Authorised Market InstitutionG .

      [Added] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]

    • Limited Liability Partnership

      A partnership incorporated under the Limited Liability Partnership Law 2004 or under the law of a country or territory outside the DIFCG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Liquidity Risk

      The risk of loss to an Authorised FirmG as a result of inability to meet its obligations as they fall due.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • List

      The Official List of SecuritiesG .

      [Added] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Listed Entity

      Has the meaning given in MKT Rule 9.1.1(2)

      [Added] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Listed Fund

      A Collective Investment FundG which has been admitted to the Official List of SecuritiesG .

      [Added][VER4/08-05]
      [Amended] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Listed Securities

      Any SecuritiesG which have been admitted to the Official List of SecuritiesG .

      [Added] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Listing Principles

      Means the RulesG in MKT section 9.2.

      [Added] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Listing Rules

      The RulesG in chapter 9 of MKT.

      [Added] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Lloyd's

      The society established in the United Kingdom and known as Lloyd's.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Lloyd's Underwriter

      An underwriting member of Lloyds.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Loan Crowdfunding

      Has the meaning given in GEN Rules 2.29.1(2) and (3).

      [Added] DFSA RMI205/2017 (Made 14th June 2017). [VER38/08-17]

    • Loan Crowdfunding Operator

      A PersonG who is authorised under a LicenceG to Operate a Loan Crowdfunding PlatformG .

      [Added] DFSA RMI205/2017 (Made 14th June 2017). [VER38/08-17]

    • Loan Crowdfunding Platform

      An electronic platform or a facility referred to in GEN Rule 2.29.1(2) or (3).

      [Added] DFSA RMI205/2017 (Made 14th June 2017). [VER38/08-17]

    • Local Authorities

      Government or municipal authorities, which do not operate at a national level.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Local Services Office [Deleted]

      Deleted in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]

    • Long-Term Insurance

      A Contract of InsuranceG of a type specified in GEN Rule A4.1.2, expressed to be in force for more than one year, where under the terms of the contract any of the following conditions exists:

      (1) the payment of the whole or part of the benefits is dependent upon the termination or continuation or human life;
      (2) the payment of any part of the premiums is dependent upon the termination or continuation of human life;
      (3) the benefits under the contract include payment of a sum on marriage or on the birth of a child; or
      (4) the contract is a permanent health insurance contract.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Long-Term Insurance Business

      The business of Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG , where the Contracts of InsuranceG are contracts of Long-Term InsuranceG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Long-Term Insurance Fund

      A fund in respect of Long-Term Insurance BusinessG established and maintained in accordance with PIN chapter 3.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Long-Term Insurance Liabilities

      Liabilities of an InsurerG arising under or associated with contracts of Long-Term InsuranceG , entered into by it as insurer or cedant, including liabilities of the kinds referred to in RulesG PIN 5.6.6 and PIN 5.6.7.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM187/2016 (Made 7th December 2016). [VER37/02-17]