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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Glossary Module (GLO) [VER43/02-19]
GLO 2 Glossary
[ C ] [Capital Requirement—Customer Due Diligence (CDD)]
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Consultation Papers
Policy Statements
DFSA Codes of Practice
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  • [ C ] [Capital Requirement—Customer Due Diligence (CDD)]

    • Capital Requirement

      The amount of capital an Authorised FirmG must hold, calculated in accordance with PIB sections 3.3, 3.4 or 3.5, as applicable.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM114/2012 (Made 15th October 2012). [VER28/12-12]

    • Capital Resources

      The total capital resources of an Authorised FirmG calculated in accordance with PIB section 3.11.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM114/2012 (Made 15th October 2012). [VER28/12-12]

    • Captive Cell

      [deleted]

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Deleted] (as from 15th October 2004) [VER2/10-04]

    • Captive Insurer

      A Captive InsurerG means a:

      (a) Class 1 Captive InsurerG ;
      (b) Class 2 Captive InsurerG ; or
      (c) Class 3 Captive InsurerG .

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Carrying Out Contracts of Insurance

      Has the meaning given in GEN section 2.16.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Category

      A prudential grouping of Authorised FirmsG which determines the application of the RulesG in PIBG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • CCP

      Pursuant to GEN Rule 2.18.1(1)(a), a CCPG is a PersonG who OperatesG a Clearing HouseG by becoming a Central CounterpartyG .

      [Added] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]

    • Cell

      A cell created by a Protected Cell CompanyG for the purpose of segregating and protecting cellular assets in the manner provided by the DIFCG Companies RegulationsG .

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      Amended in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]

    • Cell Return

      The return described in PIN Rule A10.2.4.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Cell Share Capital

      Capital comprising of the proceeds of the issue of Cell SharesG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Cell Shares

      SharesG created and issued by a Protected Cell CompanyG in respect of one of its cells.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Cellular Asset

      The assets of the Protected Cell CompanyG attributable to the Company'sG CellsG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Cellular Liabilities

      Liabilities that may be settled by disposition of cellular assets.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Central Bank

      The Central BankG of the U.A.E.G or its equivalent in another country or territory.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Central Counterparty

      Pursuant to GEN Rule 2.18.1(3), a PersonG operates as a Central CounterpartyG where it:

      (a) ensures the performance of open contracts relating to InvestmentsG , made on a facility for trading InvestmentsG ; and
      (b) does so by interposing between counterparties to such contracts by becoming the buyer to every seller, or the seller to every buyer.
      [Added] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]

    • Central Securities Depository

      In relation to:

      (a) an Authorised FirmG , the meaning given to that term under GEN Rule 2.13.1(3); and
      (b) in the case of an Authorised Market InstitutionG , the meaning given to that term in GEN Rule 2.18.1(5).
      [Added] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]

    • Certificate

      Has the meaning given in GEN Rule A2.2.1(d).

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM62/2008 (Made 4th January 2009). [VER20/01-09]

    • Charge

      Any FeeG or charge made to a ClientG in connection with Investment BusinessG , whether levied by the Authorised FirmG or any other PersonG , including a Mark-up or Mark-downG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Chief Executive (CEO)

      The individual appointed to the office of Chief Executive of the DFSAG by the BoardG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]

    • Chinese Wall

      An arrangement described in Article 63 of the Markets Law 2012.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • CIR

      The Collective Investment module of the RulebookG .

      [Added] RM162/2015 (Made 9th December 2015). [VER34/02-16]

    • Class

      In relation to a Contract of InsuranceG , the allocated insurance class as specified in GEN App4.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Class 1 Captive Cell

      A CellG established by a Protected Cell CompanyG to which are attributable assets and liabilities arising out of Insurance BusinessG only in respect of risks related to arising out of the business or operations of members of a GroupG which together hold a majority of Cell SharesG , including for this purpose only contracts of reinsurance in respect of such risks insured by the cedant.

      [Added] DFSA RM14/2004 (as from 15th October 2004). [VER2/10-04]

    • Class 2 Captive Cell

      A CellG established by a Protected Cell CompanyG to which are attributable assets and liabilities arising out of Insurance BusinessG , 80% of the Gross Written PremiumG in any year being attributable to risks related to or arising out of the business or operations of members of a GroupG which together hold a majority of the Cell SharesG , including for this purpose only contracts of reinsurance in respect of such risks insured by the cedant.

      [Added] DFSA RM14/2004 (as from 15th October 2004). [VER2/10-04]

    • Class 3 Captive Cell

      A CellG established by a Protected Cell CompanyG :

      (a) to which are attributable assets and liabilities arising out of Insurance BusinessG only in respect of risks related to or arising out of the business or operations of persons who engage in similar, related or common:
      (i) businesses;
      (ii) activities;
      (iii) trade;
      (iv) services; or
      (v) operations;
      including for this purpose only contracts of reinsurance in respect of such risks insured by the cedant; and
      (b) owned by such PersonsG or by a Body CorporateG of which all such PersonsG are members.
      [Added] DFSA RM14/2004 (as from 15th October 2004). [VER2/10-04]

    • Class 1 Captive Insurer

      A DIFC Incorporated InsurerG permitted under the conditions of its licence to effect or carry out Contracts of InsuranceG only in respect of risks related to or arising out of the business or operations of the GroupG , including for this purpose only contracts of reinsurance in respect of such risks insured by the cedant.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM14/2004 (as from 15th October 2004). [VER2/10-04]

    • Class 2 Captive Insurer

      A DIFC Incorporated InsurerG required under the conditions of its licence to obtain at least 80 per cent of its Gross Written Premium in any year from Contracts of InsuranceG in respect of risks related to or arising out of the business or operations of the GroupG , including for this purpose only contracts of reinsurance in respect of such risks insured by the cedant.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM14/2004 (as from 15th October 2004). [VER2/10-04]
      [Amended] DFSA RM50/2007 (Made 1st October 2007). [VER16/10-07]

    • Class 3 Captive Insurer

      A DIFC Incorporated InsurerG which is:

      (a) permitted under the conditions of its licence to effect or carry out Contracts of InsuranceG only in respect of risks related to or arising out of the business or operations of persons who engage in similar, related or common:
      (i) businesses;
      (ii) activities;
      (iii) trade;
      (iv) services; or
      (v) operations;
      including for this purpose only contracts of reinsurance in respect of such risks insured by the cedant, and
      (b) owned by such PersonsG or by a Body CorporateG of which all such PersonsG are members.
      [Added] DFSA RM14/2004 (as from 15th October 2004). [VER2/10-04]

    • Class of Business

      A classification of insurance contracts having similar characteristics, specified in GEN App4.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Clearing House

      An Authorised Market InstitutionG which is authorised under its LicenceG to carry on the Financial ServiceG of Operating a Clearing HouseG .

      [Added] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]

    • Client

      A Retail ClientG , Professional ClientG or Market CounterpartyG as defined in COB chapter 2.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]
      [Amended] RM74/2011 (Made 10th February 2011). [VER24/02-11]

    • Client Account

      (1) In relation to Client MoneyG , an account specified in COB Rule A5.4.1; and
      (2) in relation to a Safe Custody InvestmentG an account specified in COB Rule A6.4.2.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Client Agreement

      An agreement that is made in accordance with the requirements of COB section 3.3.

      [Added] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]
      [Amended] DFSA RM151/2015 (Made 11th February 2012). [VER33/04-15]

    • Client Assets

      Client MoneyG and Client InvestmentsG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Client Investments

      Has the meaning given in COB section 6.13.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]

    • Client Money

      Has the meaning given in COB section 6.12.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]

    • Client Money Auditor's Report

      A report referred to in GEN Rule 8.6.1(c).


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Client Money Distribution Rules

      The RulesG under COB section A5.13.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Client Money Provisions

      The provisions under COB App5.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Closed-ended Fund

      Has the meaning given in Article 18A(3) of the Collective Investment LawG .

      Derived from DFSA RM221/2018 (Made 22nd February 2018). [VER42/12-18]

    • Close Links

      A PersonG (Person A) has Close LinksG with a PersonG (Person B) if:

      (a) PersonG B:
      (i) is a Holding CompanyG of PersonG A;
      (ii) is a SubsidiaryG of PersonG A;
      (iii) is a Holding CompanyG of the SubsidiaryG of PersonG A;
      (iv) is a SubsidiaryG of a Holding CompanyG of PersonG A; or
      (v) owns and controls 20% or more of the voting rights or shares of PersonG A; or
      (b) PersonG A owns and controls 20% or more of the voting rights or shares of PersonG B.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Close Out Netting

      A process whereby the claims and obligations of two CounterpartiesG are accelerated, netted to form a single net sum and become immediately due upon the default, bankruptcy, liquidation or other similar circumstance of either of the CounterpartiesG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Close Relative

      In relation to any individual:

      (a) his spouse;
      (b) his children and step-children, his parents and step-parents, his brothers and sisters and his step-brothers and step-sisters; and
      (c) the spouse of any individual within (b).

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Closely Related

      Has the meaning given in PIB Rule A4.11.5.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM114/2012 (Made 15th October 2012). [VER28/12-12]

    • CMC

      The Code of Market Conduct module of the Sourcebook.

      [Added] DFSA RM147/2014 (Made 1st January 2015). [VER32/01-15]

    • COB

      The Conduct of Business module of the RulebookG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Code of Ethics for Accountants and Audit Firms of Islamic Financial Institutions

      The code of ethics issued by the Accounting and Auditing Organisation of Islamic Financial InstitutionsG from time to time (AAOIFI).

      [Added][VER11/11-06]

    • Code of Ethics for Professional Accountants

      The code of ethics for accountants as issued and amended from time to time by the International Ethics Standard Board for Accountants (IESBA) of IFACG .

      [Added][VER11/11-06]
      [Amended] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Collateral

      (1) In PIBG , any form of asset, guarantee, or indemnity which is held or controlled by an Authorised FirmG and is subject to a security interest or arrangement in favour of that firm; and
      (2) In COBG , a Client InvestmentG which has been paid for in full by a ClientG and which is held or controlled by the Authorised FirmG under the terms of a deposit, pledge, charge or other security arrangement.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Collective Investment Fund

      An arrangement which amounts to a FundG under Article 11 of the Collective Investment Law 2010 and which is not excluded under the RulesG made under Article 12 set out under CIR section 2.1.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended][VER8/04-06]
      [Amended] DFSA RM50/2007 (Made 1st October 2007). [VER16/10-07]
      [Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]
      [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER23/07-10]

    • Commercial Customer [Deleted]

      [Deleted] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]

    • Commercial Paper

      DebenturesG with a maturity of less than 2 years at the date of issue.

      [Added] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]

    • Commission

      Any form of commission, including a benefit of any kind, offered or given in connection with Investment BusinessG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Commodities Risk Capital Requirement

      A component of the Market Risk Capital RequirementG to cover the risk of holding or taking positions in commodities, including precious metals, but excluding gold, calculated in accordance with PIB section 5.7.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Commodity Derivative

      A DerivativeG over a commodity

      [Added] DFSA RM39/2007 (Made 25th January 2007). [VER12/01-07]

    • Complaint

      Any oral or written expression of dissatisfaction from a ClientG to an Authorised FirmG in connection with the provision of, or failure to provide, a Financial ServiceG to the ClientG .

      [Added] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]

    • Compliance Officer

      In relation to:

      (a) an Authorised FirmG , the Licensed FunctionG described in GEN Rule 7.4.6; and
      (b) an Authorised Market InstitutionG , the Key IndividualG function described in AMI Rule 5.3.6.
      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      Amended in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]
      [Amended] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]

    • Concentration Risk

      The risk faced by an Authorised FirmG arising out of its Large ExposuresG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Connected

      In relation to a PersonG (A), a PersonG which has or has at any relevant time had the following relationship to A:

      (a) a member of A's GroupG ;
      (b) a ControllerG of A;
      (c) a member of a partnership of which A is a member;
      (d) an employee or former employee of A;
      (e) if A is a company:
      (i) an officer or manager of A or of a parent of A;
      (ii) an agent of A or of a parent of A;
      (f) if A is a partnership, is or has been a member, manager or agent of A; or
      (g) if A is an unincorporated association of persons which is not a partnership, is or has been an officer, manager or agent of A.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM50/2007 (Made 1st October 2007). [VER16/10-07]

    • Connected Counterparties

      Has the meaning given in PIB Rule A4.11.7.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM114/2012 (Made 15th October 2012). [VER28/12-12]

    • Connected Person

      In relation to:

      (a) a Reporting EntityG other than that of a Listed FundG , a PersonG referred to in MKT Rule 4.3.2; and
      (b) a Reporting EntityG of a Listed FundG , a PersonG referred to in MKT Rule 6.6.1.
      [Added] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]
      [Amended] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Constitution

      In relation to a FundG :

      (a) which is in the form of a Body CorporateG , the instrument of incorporation;
      (b) which is in the form of a TrustG , the trust deed;
      (c) which is in the form of a PartnershipG , the partnership deed; or
      (d) adopting a form other than one specified in (a) to (c), any instrument creating the legal form of the FundG to which the Fund ManagerG is a party setting out provisions relating to any aspect of the operation or management of the FundG .
      [Added][VER8/04-06]
      [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER23/07-10]

    • Contingent Liability Investment

      A DerivativeG under the terms of which the ClientG will or may be liable to make further payments (other than ChargesG , and whether or not secured by margin) when the transaction falls to be completed or upon the earlier closing out of his position.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Contract of Insurance

      Has the meaning given in GEN Rule A4.1.1.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Controller

      (1) In relation to an Authorised FirmG , a PersonG who, either alone or with any AssociateG fulfils the criteria specified in GEN Rule 11.8.2; or
      (2) in relation to an Authorised Market InstitutionG a PersonG who, either alone or with any AssociateG fulfils the criteria specified in AMI Rule 8.1.2.
      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]
      Amended in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]
      [Amended] RM162/2015 (Made 9th December 2015). [VER34/02-16]

    • Convertible

      An InvestmentG that gives an investor the right to convert the SecurityG into another form of SecurityG at an agreed price or on an agreed basis.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]

    • Corporate Director

      In relation to an Investment CompanyG that elects to have its sole Corporate DirectorG act as its Fund ManagerG , the body corporate that acts or intends to act as the Fund ManagerG .

      Derived from DFSA RM221/2018 (Made 22nd February 2018). [VER42/12-18]

    • Corporate Governance Principles

      Principles prescribed in MKT Rules 3.2.33.2.9.

      [Added] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Correspondent Account

      An account opened on behalf of a Correspondent Banking ClientG to receive deposits from, to make payments on behalf of or to otherwise handle financial TransactionsG for or on behalf of the Correspondent Banking ClientG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Correspondent Bank

      A bank in a jurisdiction other than the DIFCG where an Authorised FirmG opens a Correspondent AccountG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Correspondent Banking Client

      A ClientG of an Authorised FirmG which uses the firm's correspondent banking services account to clear TransactionsG for its own customer base.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Council

      [Deleted]

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Deleted] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]

    • Counterparty

      Means any person with or for whom an Authorised FirmG carries on, or intends to carry on, any regulated business or associated business. In this context, a counterparty includes an individual, unincorporated body, company, government, local authority or other public body.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Counterparty Risk

      The risk that an Authorised Firm'sG CounterpartyG does not perform its obligations under the terms of a contract.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Counterparty Risk Capital Component (CPCOM) [Deleted]

      [Deleted] DFSA RM114/2012 (Made 15th October 2012). [VER28/12-12]

    • Court

      The DIFCG CourtG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Credit Default Product

      A swap or OptionG , which has a payout linked to changes in an underlying Reference Asset'sG creditworthiness and protects the Protection BuyerG against the risk of credit loss over a specified time period with the payout being conditional on some form of Credit EventG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Credit Derivatives

      An over the counter financial DerivativeG instrument, which enables the isolation and separate transfer of Credit RiskG and whose payout is linked to changes in the Reference Assets'G creditworthiness.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Credit Enhancement [Deleted]

      [Deleted] DFSA RM114/2012 (Made 15th October 2012). [VER28/12-12]

    • Credit Equivalent Amount (CEA) [Deleted]

      [Deleted] DFSA RM114/2012 (Made 15th October 2012). [VER28/12-12]

    • Credit Event

      An event related to the creditworthiness of Reference AssetsG or Reference EntitiesG in a Credit DerivativesG contract, which triggers the termination or a payout under the contract.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Credit Event Payment

      The consideration, which the Protection SellerG pays to the Protection BuyerG under a Credit DerivativesG contract upon occurrence of a Credit EventG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Credit Facility

      Any facility which includes any arrangement or agreement which extends monetary credit whether funded or unfunded to a PersonG including but not limited to any loan or syndicated loan, mortgage, overdraft, financial lease, letter of credit, financial guarantee, trade finance, transaction finance, project finance, asset finance, or the financing, discounting or factoring of invoices.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM225/2018 (Made 6th June 2018). [VER40/08-18]

    • Credit Rating

      Has the meaning given to it in GEN Rule 2.27.1(2)(b).

      [Added] DFSA RM104/2012 (Made 24th July 2012). [VER27/07-12]

    • Credit Rating Activities

      Has the meaning given to it in GEN Rule 2.27.1(2)(a).

      [Added] DFSA RM104/2012 (Made 24th July 2012). [VER27/07-12]

    • Credit Rating Agency

      A PersonG carrying on in or from the DIFC the Financial ServiceG of Operating a Credit Rating AgencyG for which it has an authorisation under its LicenceG .

      [Added] DFSA RM104/2012 (Made 24th July 2012). [VER27/07-12]

    • Credit Risk

      In relation to an Authorised FirmG , the risk of loss if another party fails to perform on its financial obligation to the Authorised FirmG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Credit Risk Capital Component (CRCOM) [Deleted]

      [Deleted] DFSA RM114/2012 (Made 15th October 2012). [VER28/12-12]

    • Credit Risk Capital Requirement

      The requirement calculated in accordance with PIB section 4.6.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM114/2012 (Made 15th October 2012). [VER28/12-12]

    • Credit Spread Option

      A type of contract where one CounterpartyG sells an OptionG to another CounterpartyG on a nominal amount of an asset swap on a specified SecurityG , exercisable during a set period of time, in exchange for a payment of a premium where the OptionG gives the buyer the right to put the asset swap back to the seller at a strike spread over a pre-determined benchmark rate.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Credit-linked Note

      A SecurityG whose coupon payments are linked to the return on, and repayment of principal and is linked to the creditworthiness of, the Reference AssetsG .


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Crowdfunding Loan Agreement

      A loan agreement entered into using a Loan Crowdfunding PlatformG operated by a Crowdfunding OperatorG .

      [Added] DFSA RMI205/2017 (Made 14th June 2017). [VER38/08-17]

    • Crowdfunding Operator

      A PersonG who is authorised under a LicenceG to Operate a Crowdfunding PlatformG .

      [Added] DFSA RMI205/2017 (Made 14th June 2017). [VER38/08-17]

    • Crowdfunding Platform

      An Investment Crowdfunding PlatformG or a Loan Crowdfunding PlatformG .

      [Added] DFSA RMI205/2017 (Made 14th June 2017). [VER38/08-17]

    • CSD

      In relation to:

      (a) an Authorised FirmG , a PersonG who carries on the activity specified in GEN Rule 2.13.1(3);
      (b) an Authorised Market InstitutionG , a PersonG who carries on the activity specified in GEN Rule 2.18.1(5).
      [Added] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]

    • CTF

      Means counter-terrorist financing.

      [Added] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]

    • Customer Complaint [Deleted]

      [Deleted] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]

    • Customer Due Diligence (CDD)

      Has the meaning in AML Rule 7.3.1.

      [Added] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]