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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER34/12-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases

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  • PIB 6.3.1

    An Authorised FirmG must:

    (a) ensure that it identifies and assesses the Operational RisksG inherent in all the Authorised Firm'sG products, activities, processes and systems;
    (b) ensure the inherent risks in (a) are understood by relevant EmployeesG of the Authorised FirmG ;
    (c) systematically track Operational RiskG events and any financial impact associated with such events; and
    (d) ensure that the tracking in (c) is consistent with the Operational RiskG event types described in the Basel III framework.
    Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]

    • PIB 6.3.1 Guidance

      1. An Authorised FirmG should record all Operational RiskG events, including near misses and events which result in a positive financial outcome.
      2. These Rules complement related RulesG in GEN section 5.3 relating to risk management systems and controls. For example, GEN Rule 5.3.6 requires an Authorised FirmG to appoint an individual to advise its Governing BodyG and senior management as to risks.
      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]