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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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
Financial Markets Tribunal

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  • PIB 10.6 Imposition of an Individual Capital Requirement

    • PIB 10.6.1

      (1) This section applies to an Authorised FirmG in CategoryG 1, 2, 3A or 5.
      (2) The DFSAG may, subject to (3) and (4), at any time by written notice to an Authorised FirmG :
      (a) impose an Individual Capital RequirementG ; or
      (b) vary or withdraw an Individual Capital RequirementG .
      (3) The DFSAG may act under (2) on its own initiative where the DFSAG forms the view that the firm's Capital RequirementG is insufficient to address adequately all its risks.
      (4) The DFSAG will, in addition to prescribing an Individual Capital RequirementG , also specify in the notice the types and amounts of Capital ResourcesG required to meet the Individual Capital RequirementG .
      (5) The procedures in Schedule 3 to the Regulatory Law apply to a decision of the DFSAG under (2) made after a LicenceG has been granted.
      (6) If the DFSAG decides to exercise its power under (2) after a LicenceG has been granted, the Authorised FirmG may refer the matter to the FMTG for review.
      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]
      [Amended] DFSA RM135/2014 (Made 21st August 2014). [VER22/06-14]

    • PIB 10.6.2

      An Authorised FirmG must have and maintain, at all times, Capital ResourcesG of the types and amounts specified in the notice issued to it under PIB Rule 10.6.1 to meet its Individual Capital RequirementG .

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