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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Conduct of Business Module (COB) [VER33/07-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  • COB 2.5 Record keeping

    • COB 2.5.1

      An Authorised FirmG must keep records of:

      (1) the procedures which it has followed under the Rules in this chapter, including any documents which evidence the Client'sG classification; and
      (2) any notice sent to the ClientG under the Rules in this chapter and evidence of despatch.
      Derived from DFSA RM149/2015 (Made 11th February 2015) [VER24/04-15]

    • COB 2.5.2

      (1) The records in Rule 2.5.1 must be kept by an Authorised FirmG for at least six years from the date on which the business relationship with a ClientG has ended.
      (2) In complying with (1), an Authorised FirmG may, if the date on which the business relationship with the ClientG ended is unclear, treat the date of the completion of the last TransactionG with the ClientG as the date on which the business relationship ended.
      Derived from DFSA RM149/2015 (Made 11th February 2015) [VER24/04-15]

    • COB 2.5.3

      (1) Without limiting the generality of the record keeping requirements applicable to an Authorised FirmG , an Authorised FirmG must, where it relies on Rule 2.4.4 and Rule 2.4.5, ensure that the DFSA has unrestricted access to all the records required for the firm to be able to demonstrate to the DFSA its compliance with the applicable requirements, including any records maintained by or at its head office or any other branch of the same legal entity, or a member of its Group.
      (2) An Authorised FirmG must notify the DFSA immediately if, for any reason, it is no longer able to provide unrestricted access to records as required under (1).
      Derived from DFSA RM149/2015 (Made 11th February 2015) [VER24/04-15]

    • Guidance

      1. See GEN Rules 5.3.245.3.27 for the requirements relating to record keeping. These Rules require, among other things, that Authorised FirmsG be able to produce records, however kept, within a reasonable period not exceeding three business days.
      2. If an Authorised FirmG is aware of any restrictions that prevent it from being able to produce relevant records relating to a client classification referred to in Rule 2.5.3(1), that firm would need to undertake its own client classifications.
      Derived from DFSA RM149/2015 (Made 11th February 2015) [VER24/04-15]