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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Authorised Market Institutions (AMI) [VER18/02-17]
Part 3 Licensing Requirements
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  • Combining Roles

    • AMI 5.3.11

      (1) To the extent practicable, an Authorised Market InstitutionG must not assign to its Key IndividualsG any commercial functions which conflict with their Key IndividualG functions or which impair, or are likely to impair, their ability to perform the relevant functions.
      (2) Before an Authorised Market InstitutionG assigns to a Key IndividualG any commercial functions, the Authorised Market InstitutionG must:
      (a) form a view on a reasonable basis that the commercial functions to be assigned to any Key IndividualG do not, as far as reasonably practicable, conflict with the relevant Key IndividualG functions or impair his ability to discharge those functions effectively; and
      (b) to the extent there are such conflicts inherent in the relevant functions, there are adequate procedures and controls to mitigate such conflicts.
      (3) The Authorised Market InstitutionG must maintain records of its decisions and procedures as applicable under (2) above.
      Derived from RM118/2013 [VER15/07-13]

      • AMI 5.3.11 Guidance

        The DFSAG does not expect Key IndividualsG who are PersonsG undertaking control functions such as those relating to risk, compliance and audit to be assigned any functions or roles which are to further the Authorised Market Institution'sG commercial interests or objectives (such as business promotional activities) .

        Derived from RM118/2013 [VER15/07-13]