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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]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
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  • AMI 9.5 Constitution and Governance

    • AMI 9.5.1

      Where an Authorised Market InstitutionG is to circulate any notice or other document proposing any amendment to its memorandum or articles of association, or other document relating to its constitution, to:

      (a) its shareholders or any group or class of them;
      (b) persons granted access to its facilities or any group or class of them; or
      (c) any other group or class of persons which has the power to make that amendment or whole consent or approval is required before it may be made:

      that Authorised Market InstitutionG must give notice of that proposed amendment to the DFSAG setting out the following information:

      (d) the proposed amendment;
      (e) the reasons for the proposal; and
      (f) a description of the group or class of persons to whom the proposal is to be circulated.
      Derived from RM118/2013 [VER15/07-13]

    • AMI 9.5.2

      Where an Authorised Market InstitutionG makes an amendment to its memorandum or articles of association, or other document relating to its constitution, that Authorised Market InstitutionG must immediately give the DFSAG notice of that event, setting out written particulars of that amendment and of the date on which it is to become or became effective.

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

    • AMI 9.5.3

      (1) Where any significant change is made to an agreement which relates to the constitution, or to the corporate governance framework or the remuneration structure or strategy, of an Authorised Market InstitutionG , that Authorised Market InstitutionG must give the DFSAG a notice as provided in (2).
      (2) Where any significant change is made to:
      (a) an agreement which relates to the constitution of an Authorised Market InstitutionG , the Authorised Market InstitutionG must give the DFSAG notice of that change as soon as it becomes aware of it, and the date on which it is to become or became effective; or
      (b) the corporate governance framework or the remuneration structure or strategy of an Authorised Market InstitutionG , the Authorised Market InstitutionG must give the DFSAG notice of that change as soon as practicable before making such a change.
      Derived from RM118/2013 [VER15/07-13]

      • AMI 9.5.3 Guidance

        1. Key aspects of the corporate governance framework of an Authorised Market InstitutionG encompass a range of matters. These include the composition of its Governing BodyG , any committees of the Governing BodyG , the senior management and the Persons Undertaking Key Control FunctionsG , the reporting lines between the Governing BodyG , senior management and the Persons Undertaking Key Control FunctionsG and any key policies and practices relating to the internal governance of the firm, such as codes of ethics or its remuneration practices. Significant changes relating to such arrangements and policies need to be notified to the DFSAG pursuant to Rule 9.5.3(2)(b) before making any changes.
        3. Notification relating to proposed changes to corporate governance and remuneration referred to in Rule 9.5.3(2)(b) must be given sufficiently in advance of effecting the proposed change. If there are any concerns that an Authorised Market InstitutionG may not be able to meet the applicable requirements relating to corporate governance and remuneration set out in GEN Rules 5.3.30 and 5.3.31 as a result of a proposed change, the DFSAG may require the Authorised Market InstitutionG to address those concerns effectively before implementing such a change.
        Derived from RM118/2013 [VER15/07-13]