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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
General Module (GEN) [VER44/07-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Financial Markets Tribunal

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  • GEN 6.6 Close links

    • GEN 6.6.1

      (1) Where an Authorised PersonG or a PersonG who has submitted an application for authorisation to carry on one or more Financial ServicesG has Close LinksG with another PersonG , the DFSAG must be satisfied that those Close LinksG are not likely to prevent the effective supervision by the DFSAG of the Authorised PersonG .
      (2) If requested by the DFSAG the Authorised PersonG must submit a Close LinksG report or notification, in a form specified by the DFSAG . This may be requested on an ad hoc or periodic basis.
      Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]

      • GEN 6.6.1 Guidance

        1. Procedures for notification to the DFSAG are set out in GEN section 6.10.
        2. Under the fit and proper test for Authorised FirmsG and the Licensing RequirementsG for Authorised Market InstitutionsG , an Authorised FirmG or Authorised Market InstitutionG which does not satisfy the DFSAG with respect of its Close LinksG will, on this point alone, not be considered fit and proper or able to satisfy the Licensing RequirementsG .

        Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
        Amended in accordance with Notice of Amendments to Legislation April 2011 [VER27/02-11]
        [Amended] DFSA RM176/2016 (Made 19th June 2016) [VER37/08-16]