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  • Regulatory Policy and Process Sourcebook (RPP)

    Regulatory Policy and Process Sourcebook (RPP) July 2013 Edition

    Regulatory Policy and Process Sourcebook (RPP) August 2014 Edition

    Regulatory Policy and Process Sourcebook (RPP) November 2014 Edition

    Regulatory Policy and Process Sourcebook (RPP) February 2015 Edition

    Regulatory Policy and Process Sourcebook (RPP) May 2015 Edition

    Regulatory Policy and Process Sourcebook (RPP) July 2015 Edition

    Regulatory Policy and Process Sourcebook (RPP) February 2016 Edition

    View the current version of the Regulatory Policy and Process Sourcebook (RPP).

    • Regulatory Policy and Process Sourcebook (RPP) December 2012 Edition

      Click here to view PDF.

      The Regulatory Policy and Process Sourcebook (RPP) December 2012 Edition was replaced by Regulatory Policy and Process Sourcebook (RPP) July 2013 Edition.

      • RPP 1 Introduction

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      • RPP 2 Authorisation — Becoming Regulated

        • RPP 2-3 Assessing the Fitness and Propriety of Authorised Individuals and Principal Representatives

          • Integrity

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        • RPP 2-5 Start-Up Entities in the DIFC

          • Financial Risk

            • RPP 2-5-8

              All applicants are required to demonstrate a sound initial capital base and funding and to meet the relevant prudential requirements of the DFSAG rulebook, on an ongoing basis. This may include holding sufficient capital to cover expenses on a zero revenue basis. Inevitably, start up entities face greater financial risks as they seek to establish and grow a new business.

              Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]

        • RPP 2-6 Application for a Retail Endorsement

          • RPP 2-6-1

            Section 7.3 of the GEN module provides that an applicant intending to carry on a Financial ServiceG with a Retail ClientG requires an endorsement on its LicenceG .

            Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]

          • RPP 2-6-2

            When assessing an application for a Retail Endorsement, the DFSAG may consider, among other things, the following:

            (a) the adequacy of an applicant's systems and controls for carrying on Financial ServicesG with a Retail ClientG ;
            (b) whether the applicant is able to demonstrate that its systems and controls (including policies and procedures) adequately provide for, among other things, compliance with the requirements specifically dealing with Retail ClientsG in the COB module, in particular:
            (i) marketing materials intended for Retail ClientsG ;
            (ii) the content requirements for Client AgreementsG for Retail ClientsG ;
            (iii) the suitability assessment for recommending a financial product for a Retail ClientG ;
            (iv) the disclosure of fees and commissions, and any inducements, to a Retail ClientG ; and
            (v) the segregation of Client MoneyG and/or Client InvestmentsG , where relevant;
            (c) whether the applicant has adequate systems and controls to ensure, on an ongoing basis, that its EmployeesG remain competent and capable to perform the functions which are assigned to them, including any additional factors that may be relevant if their functions involve interfacing with Retail ClientsG ; and
            (d) the adequacy of the applicant's ComplaintsG handling policies and procedures. An applicant's policies and procedures must provide for fair, consistent and prompt handling of complaints. In addition to the matters set out in Chapter 9 of the GEN module, the policies and procedures should explicitly deal with how the applicant ensures that:
            (i) EmployeesG dealing with ComplaintsG have adequate training and competencies to handle ComplaintsG , as well as impartiality and sufficient authority (see GEN Rules 5.3.19, 9.2.7 and 9.2.8);
            (ii) a Retail ClientG is made aware of the firm's Complaints handling policies and procedures before obtaining its services (see COB Rule A2.1.2(1)(h)); and
            (iii) the applicant's ComplaintsG handling policies and procedures are freely available to any Retail ClientG upon request (see COB Rule 9.2.11).
            Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]

      • RPP 3 Supervision — Being Regulated

        • RPP 3-2 Supervision of Authorised Firms

          • Subsidiary of a Non-DIFC Firm

            • RPP 3-2-9

              The DFSAG will routinely be the lead regulator for the purpose of prudential supervision of an Authorised FirmG which is a DIFCG incorporated SubsidiaryG of a non-DIFC firm.

              Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]

            • RPP 3-2-10

              Where the Authorised FirmG is a SubsidiaryG of a regulated non-DIFC parent company, the DFSAG may have regard to any consolidated prudential supervision arrangements to which the SubsidiaryG is subject and will liaise with other regulators as necessary to ensure that these are adequately carried out, taking into account the Subsidiary'sG activities. The DFSAG may place appropriate reliance on the Subsidiary'sG consolidated regulator in another jurisdiction if it is satisfied that it meets appropriate regulatory criteria and standards.

              Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]

            • RPP 3-2-11

              An Authorised FirmG carrying on Financial ServicesG as a SubsidiaryG of an unregulated non-DIFC parent company may be subject to DFSA'sG consolidated prudential supervision, taking into account the parent's activities.

              Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]

        • RPP 3-3 Supervision of Representative Offices

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        • RPP 3-4 Supervision of Ancillary Service Providers

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        • RPP 3-5 Supervision of Auditors

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        • RPP 3-6 Supervision of Authorised Market Institutions

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      • RPP 4 Supervisory and Enforcement Powers

        • RPP 4-1 Introduction

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      • RPP 5 Enforcement

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      • RPP 6 Decision Making

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