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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 8.5 Restrictions on Ownership or Control

    • PIB 8.5 Guidance

      By PIB Rule 8.1.1(1), this section applies to an Authorised FirmG in any CategoryG .

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

    • Parents of Category 1 and 5 Authorised Firms

      • PIB 8.5.1

        (1) No entity other than one of the following may be the ParentG of, or any of the ParentsG of, an Authorised FirmG in CategoryG 1 or 5:
        (a) another Authorised FirmG in CategoryG 1 or 5; or
        (b) a Regulated Financial InstitutionG licensed to carry on the activities of accepting deposits.
        (2) An entity other than one referred to in (1)(a) or (b) may be the ParentG of an Authorised FirmG in CategoryG 1 or 5 where the ultimate, or any intermediate, ParentG is an entity of the type specified under 1(a) or (b).
        Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]

    • Restrictions on Category 3A, 3B, 3C and 4 Authorised Firms

      • PIB 8.5.2

        (1) An Authorised FirmG in CategoryG 3A, 3B, 3C or 4 must not, subject to (2), be a ParentG of an entity that:
        (a) is an Authorised FirmG in CategoryG 1 or 5 or an InsurerG ; or
        (b) carries on activities that would, if conducted in the DIFCG , constitute Accepting DepositsG , Managing a PSIAG which is a PSIAuG , or Effecting or Carrying out Contracts of InsuranceG .
        (2) An Authorised FirmG in CategoryG 3A, 3B, 3C or 4 may own or control an entity referred to in (1) where it is itself a SubsidiaryG of:
        (a) a Regulated Financial InstitutionG licensed to carry on any one or more of the activities specified in (1)(b); or
        (b) an Authorised FirmG in CategoryG 1 or 5 or an InsurerG .
        Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]