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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER33/02-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  • PIB 8.2 Systems and Controls Requirements

    • PIB 8.2.1

      An Authorised FirmG in CategoryG 1, 2 or 5 that is a member of a GroupG must establish and maintain systems and controls for the purpose of:

      (a) monitoring the effect on the Authorised FirmG of:
      (i) its relationship with other members of its GroupG ;
      (ii) its membership in its GroupG ; and
      (iii) the activities of other members of its GroupG ;
      (b) monitoring compliance with Financial GroupG supervision requirements below, including systems for the production of relevant data;
      (c) monitoring funding within the GroupG ; and
      (d) monitoring compliance with Financial GroupG reporting requirements.
      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]

      • PIB 8.2.1 Guidance

        For the purposes of the above requirement, an Authorised FirmG may take into account its position within its GroupG . For instance, it would be reasonable for a small Authorised FirmG within a larger GroupG to place some reliance on its parent to ensure that appropriate systems and controls are in place.

        Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]

    • PIB 8.2.2

      (1) An Authorised FirmG must have systems and controls to enable it to determine and monitor:
      (a) its Financial Group Capital RequirementG ; and
      (b) whether the amount of its Financial Group Capital ResourcesG is, and is likely to remain, greater than the amount of its Financial Group Capital RequirementG .
      (2) Such systems and controls must include an analysis of:
      (a) realistic scenarios which are relevant to the circumstances of the Financial GroupG ; and
      (b) the effects on the Financial Group Capital RequirementG and on the Financial Group Capital ResourcesG if those scenarios occurred.
      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]