Home   Browse contents   View updates   Search  
     Quick search
Go
   

Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Sourcebook Modules
Regulatory Policy and Process Sourcebook (RPP) February 2017 Edition
RPP 4 Supervisory and Enforcement Powers
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

BackText onlyPrint

You need the Flash plugin.

Download Macromedia Flash Player



  • Direction Powers for Prudential Purposes

    • RPP 4-12-5

      Under Article 75A, the DFSAG may for, prudential purposes, direct a particular Authorised FirmG , or Authorised FirmsG within a specified class, to:

      (a) comply with any specified additional capital or liquidity requirements;
      (b) apply a specific provisioning policy or treatment of specified assets;
      (c) comply with specified limits on material risk exposures;
      (d) comply with specified limits on exposures to related parties;
      (e) meet additional or more frequent reporting requirements; or
      (f) take such other action as is specified in the direction.
      Inserted (Made 21st August 2014). August 2014 Edition

    • RPP 4-12-6

      Where the DFSAG issues a direction under Article 75A to Authorised FirmsG within a specified class, the direction will remain in force for a period of no more than 12 months in the first instance, unless the DFSAG specifies a shorter period of time in the notice. The DFSAG considers that such a direction should remain in force for a limited period as it has a Rule making power under the Regulatory LawG at its disposal, which the DFSAG would ordinarily use where it was proposing to change its Rules relating to Authorised FirmsG within a specified class.

      Inserted (Made 21st August 2014). August 2014 Edition

    • RPP 4-12-7

      The DFSAG may also direct an Affiliate of an Authorised PersonG to take specified steps or not to carry out specified activities.12 The DFSAG may give such a direction to an Affiliate if the DFSAG is the consolidated supervisor of the GroupG to which the Authorised PersonG belongs and is satisfied that the direction is necessary or desirable for the effective prudential supervision of the GroupG .13 A direction may, for example, include a requirement that the Affiliate limit any activities reasonably likely to expose the Authorised PersonG or its GroupG to excessive risks or risks that are not properly managed.


      12 Article 75A(2).

      13 Article 75A(2).

      Inserted (Made 21st August 2014). August 2014 Edition