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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
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Consultation Papers
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DFSA Codes of Practice
Amendments to Legislation
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  • Legal Enforceability

    • AMI A3.2.8

      A Commodity DerivativeG contract must, where any one or more of the activities of trading, clearing or settlement under the contract take place in different jurisdictions, contain adequate arrangements to mitigate risks arising from any disparity between governing laws applicable in the relevant jurisdictions.

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

      • AMI A3.2.8 Guidance

        An Authorised Market InstitutionG should, when assessing whether the contractual terms adequately provide for addressing jurisdictional risks, take into account whether the contract:

        a. clearly identifies the different legal requirements applicable in the relevant jurisdictions and any differences, including those relating to the manner in which standard clauses are interpreted; and
        b. the impact such differences may have in dealing with matters such as delivery disputes, and determination of rights in insolvency proceedings; and
        c. contains effective measures to address risk of unenforceability of the contractual terms, particularly those relating to cargos and storage where jurisdictional differences could have a significant impact on the deliverability.
        Derived from RM118/2013 [VER15/07-13]