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Dubai Financial Services Authority (DFSA): Contents

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

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  • AMI 5.10.1

    An Authorised Market InstitutionG must ensure that, where its obligations include making provision for the safeguarding and administration of assets belonging to MembersG and other participants on its facilities:

    (a) satisfactory arrangements ("safe custody arrangements") are made for that purpose in accordance with Rules 5.10.2 and 5.10.3; and
    (b) are provided on clear terms of agreement between the MembersG and other participants on the facility and the Authorised Market InstitutionG .
    Derived from RM118/2013 [VER15/07-13]

    • AMI 5.10.1 Guidance

      1. In determining whether an Authorised Market InstitutionG has satisfactory arrangements for safeguarding and administering assets, the DFSAG will consider:
      a. the terms of the agreement under which safe custody arrangements are made and whether they adequately provide for the matters specified in Rule 5.10.2;
      b. the level of protection provided to MembersG and other participants on its facilities against the risk of theft, fraud, defalcation or other types of loss through such arrangements; and
      c. the degree of monitoring the Authorised Market InstitutionG would be undertaking relating to custodians, and if relevant, sub-custodians.
      2. At the point of granting a LicenceG to an Authorised Market InstitutionG , the DFSAG assesses the adequacy of an applicant's safe custody arrangements. Any subsequent changes to the safe custody arrangements that have been in place at the time of granting the LicenceG , where they are material changes, would require the DFSA'sG prior approval in accordance with the requirements in Rule 4.3.2.
      Derived from RM118/2013 [VER15/07-13]