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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Glossary Module (GLO) [VER44/07-19]
GLO 2 Glossary
[ P ] [Parent—Public Sector Entities]
Partnership
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  • [ P ] [Parent—Public Sector Entities]

    • Parent

      A Holding CompanyG .

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

    • Partner

      In relation to an UndertakingG which is a PartnershipG , a PersonG occupying the position of a partner, by whatever name called.

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

    • Passported Fund

      Has the meaning given in FPR section 1.3.

      Derived from DFSA RM236/2019 (Made 20th February 2019). [VER43/02-19]

    • Partnership

      Any partnership, including a partnership constituted under the law of a country or territory outside the DIFCG , but not including a Limited Liability PartnershipG .


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

    • Permanent Health Insurance

      Has the meaning given in GEN Rule A4.1.2(d).


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

    • Permanent Share Capital

      Ordinary paid-up share capital or similar shareholders' or members' equity, including retained earnings, however called.


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

    • Permitted Third Party [Deleted]

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

    • Person

      A PersonG includes any natural person, Body CorporateG or body unincorporated, including a legal person, company, PartnershipG , unincorporated association, government or state.


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

    • Personal Account Transaction

      A transaction undertaken by an EmployeeG of an Authorised FirmG in a InvestmentG , other than:

      (a) a transaction in a government and public SecurityG ;
      (b) a transaction in a life policy; or
      (c) a discretionary transaction if there is no prior communication with the EmployeeG and the discretion is not exercised by the Authorised FirmG .

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

    • Personal Exempt Offer [Deleted]

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

    • Persons Undertaking Key Control Functions

      PersonsG undertaking compliance, risk management, internal audit and similar control functions.

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

    • PFN

      The Prescribed Forms and Notices module of the RulebookG .


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

    • PIB

      The Prudential — Investment, Insurance Intermediation and Banking module of the RulebookG .

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

    • PIN

      The Prudential — Insurance Business module of the RulebookG .


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

    • Policy Benefit

      An amount payable under an insurance contract as a result of the occurrence of an event insured under the contract.


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

    • Policyholder

      Includes a potential policyholder.

      Derived from DFSA RM180/2016 (Made 19th June 2016) [VER36/08-16]

    • Politically Exposed Persons (PEP)

      Means a natural person (and includes, where relevant, a family member or close associate) who is or has been entrusted with a prominent public function, including but not limited to, a head of state or of government, senior politician, senior government, judicial or military official, ambassador, senior executive of a state owned corporation, or an important political party official, but not middle ranking or more junior individuals in these categories.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]

    • Potential Future Credit Exposure (PFCE) [Deleted]

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

    • Practice Note

      Guidelines issued from time to time by the DFSAG to assist a Registered AuditorG in applying a relevant standard.

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

    • Preliminary Findings Letter [Deleted]

      [Deleted] DFSA RM110/2012 (Made 23rd December 2012). [VER29/12-12]

    • Preliminary Notice

      a written notice given by the DFSAG to a PersonG pursuant to paragraph 4(1) of Schedule 3 to the Regulatory Law 2004.

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

    • Premium Liability

      The liability referred to in PIN Rule 5.4.7.


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

    • Price Information Provider

      (1) In CIR, has the meaning given to that term in CIR Rule 13.9.4(2).
      (2) In AMI, has the meaning given to that term in AMI Rule A2.1.2(2).
      Derived from DFSA RM221/2018 (Made 22nd February 2018). [VER42/12-18]

    • Price Sensitive Information

      Information of a type which is liable to cause substantial movement in the price of SecuritiesG or (in the case of DebenturesG ) to affect significantly the ability of the IssuerG to meet its commitments.

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

    • Price Stabilisation

      The activity of stabilising the price of an Eligible SecurityG in the manner described in the PRS Module.

      [Added][VER4/08-05]
      [Amended] DFSA RM70/2010 (Made 11th July 2010). [VER3/07-10]

    • Principal Representative

      An individual designated by a Representative OfficeG in accordance with REP.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM68/2009 (Made 3rd January 2010). [VER22/01-10]

    • Principle

      (1) In relation to an Authorised FirmG or Authorised IndividualG , a principle prescribed in GEN chapter 4.
      (2) In relation to an Audit PrincipalG , a principle prescribed in AUD section 2.6.
      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Private Equity Fund

      Has the meaning given in CIR Rule 3.1.6

      [Added][VER8/04-06]
      [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER23/07-10]

    • Private Fund [Deleted]

      [Deleted] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Private Placement

      An OfferG made to a PersonG who is likely to be interested in the OfferG having regard to:

      (i) previous contact between the PersonG making the OfferG and that PersonG ;
      (ii) a professional or other connection between the PersonG making the OfferG and that PersonG ; or
      (iii) statements or actions by that PersonG that indicate that he is interested in OffersG of that kind.

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

    • Private Property Fund [Deleted]

      [Deleted] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Private Trust Company

      Means a body corporate the purpose of which is solely to provide trust business services in respect of a specific trust or trusts:

      (a) of which a Family MemberG of a Single FamilyG or a Family EntityG related to a Single FamilyG is the settlor; and
      (b) the beneficiaries are all:
      (i) charities; or
      (ii) Family MembersG , Family EntitiesG , or Family Fiduciary StructuresG of that Single FamilyG .
      [Added][VER7/01-06]
      [Amended] DFSA RM60/2008 (as from 2nd September 2008). [VER21/09-08]

    • Privileged Communication

      A privilege arising from the provision of professional legal advice and any other like privilege properly applicable at law to the communication in question, but does not include a general duty of confidentiality.


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

    • Professional Client

      A ClientG specified under COB Rule 2.3.3.

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

    • Professional Investor [Deleted]

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

    • Profit Equalisation Reserve

      Represents the amount appropriated out of the Mudaraba income, before allocating the Mudarib's share, in order to maintain a certain level of investment returns for investment account holders and to increase owners' equity.


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

    • Profit Sharing Investment Account (PSIA)

      An account or portfolio managed:

      (a) in relation to property of any kind, including the currency of any country or territory, held for or within the account or portfolio;
      (b) in accordance with Shari'a and held out as such; and
      (c) under the term of an agreement whereby:
      (i) the investor agrees to share any profit with the manager of the account or portfolio in accordance with a predetermined specified percentage or ratio; and
      (ii) the investor agrees that he alone will bear any losses in the absence of negligence or breach of contract on the part of the manager.
      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]

    • Promote

      In relation to a Passported FundG , has the meaning given in FPR section 1.3.

      Derived from DFSA RM236/2019 (Made 20th February 2019). [VER43/02-19]

    • Property

      (1) In relation to AML, has the meaning given in Articles (1) and (2) of the U.A.E. Federal Law No.20 of 2018; and
      (2) In relation to Property Investment CrowdfundingG , has the meaning given in GEN Rule 2.29.1(7).
      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RMI257/2019 (Made 26th June 2019). [VER44/07-19]

    • Property Fund

      Has the meaning given in CIR Rule 3.1.7

      [Added] [VER8/04-06]
      [Amended] DFSA RM61/2008 (Made 5th November 2008). [VER5/11-08]
      [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER23/07-10]
      [Amended] RM162/2015 (Made 9th December 2015). [VER34/02-16]

    • Property Related Assets

      AssetsG which are SharesG , DebenturesG or WarrantsG which are issued by a Body CorporateG , a substantial activity of which relates to investment in Real PropertyG and CertificatesG which confer rights in respect of such InvestmentsG .

      [Added][VER8/04-06]

    • Property Investment Crowdfunding

      Has the meaning given in GEN Rules 2.29.1(5) and (6).

      Derived from DFSA RMI257/2019 (Made 26th June 2019). [VER44/07-19]

    • Property Investment Crowdfunding Platform

      An electronic platform or a facility referred to in GEN Rules 2.29.1(5) and (6).

      Derived from DFSA RMI257/2019 (Made 26th June 2019). [VER44/07-19]

    • Property Investment Crowdfunding Operator

      A PersonG who is authorised under a LicenceG to operate a Property Investment Crowdfunding PlatformG .

      Derived from DFSA RMI257/2019 (Made 26th June 2019). [VER44/07-19]

    • Prospectus

      (1) In relation to an Offer of Securities to the PublicG , a document containing the information specified in Article 15 of the Markets Law 2012 and the MKT Rules, and includes a Supplementary ProspectusG .
      (2) In relation to a FundG , a document containing the information prescribed under the Collective Investment Law 2010 and the CIR Rules, includes a Short Form ProspectusG or Supplementary ProspectusG .
      [Added] DFSA RM19/2005 (as from 19th April 2005).[VER3/04-05]
      [Amended][VER8/04-06]
      [Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]
      Amended in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]
      [Amended] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Prospectus Offer

      An OfferG of SecuritiesG referred to in Article 14(4)(a) of the Markets Law 2012.

      [Added] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]
      [Amended] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]
      [Amended] DFSA RM124/2013 (Made 13th June 2013) [VER30/07-13]

    • Protected Cell Company

      A company incorporated as, or converted into, a Protected Cell CompanyG in accordance with the provisions of the RegulationsG made under the DIFCG Companies Law.


      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]

    • Protection Buyer

      The CounterpartyG to a Credit DerivativeG contract that wishes to reduce the exposure to Credit RiskG by protecting itself from potential loss suffered as a result of deterioration in the creditworthiness of the reference assets.


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

    • Protection Seller

      The CounterpartyG to a Credit DerivativeG contract that wishes to take on Credit RiskG arises from potential loss suffered as a result of deterioration in the creditworthiness of the reference assets in return for compensation from the Protection BuyerG .


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

    • Providing Accountancy Services [Deleted]

      [Deleted] DFSA RM173/2016 (Made 10th February 2016). [VER35/04-16]

    • Providing Compliance Services [Deleted]

      Deleted in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]

    • Providing Credit

      Has the meaning given in GEN section 2.5.


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

    • Providing Custody

      Has the meaning given in GEN section 2.13.


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

    • Providing Fund Administration

      Has the meaning given in GEN section 2.24

      [Added][VER8/04-06]

    • Providing Legal Services [Deleted]

      [Deleted] DFSA RM173/2016 (Made 10th February 2016). [VER35/04-16]

    • Providing Market Information Services [Deleted]

      Deleted in accordance with Notice of Amendments to Legislation April 2011 [VER24/02-11]

    • Providing Money Services

      Has the meaning given in GEN section 2.6.


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

    • Providing Trust Services

      Has the meaning given in GEN section 2.23

      [Added][VER7/01-06]

    • PRU

      The Prudential Returns module of the Sourcebook.

    • Prudential Context

      In relation to activities carried on by a Authorised FirmG , the context in which the activities might have, or might reasonably be regarded as likely to have, a negative effect on:

      (a) confidence in the financial stability of the DIFCG ;
      (b) the ability of the Authorised FirmG to meet the applicable DFSAG requirements and standards relating to the Authorised Firm'sG financial resources; or
      (c) the fitness and propriety of the Authorised FirmG to remain authorised.

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

    • PSIA

      Profit Sharing Investment AccountG .


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

    • PSIAr

      Profit Sharing Investment AccountG received on a restricted basis.


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

    • PSIAu

      Profit Sharing Investment AccountG received on an unrestricted basis.


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

    • Public Appearance

      Any participation in an interview which is part of a seminar, forum, radio, television, website, newspaper, journal, magazine, or other periodical or other public speaking activity, or the writing of an article for a website, newspaper, journal, magazine or other periodical in which an Investment AnalystG makes a recommendation or offers an opinion concerning an InvestmentG .


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

    • Public Fund

      (1) In relation to a Passported FundG , has the meaning given in FPR section 1.3; and

      (2) In any other case, has the meaning given in Article 16(1) of the Collective Investment Law 2010.

      [Added] [VER8/04-06]
      [Amended] DFSA RM56/2008 (Made 1st July 2008). [VER17/07-08]
      [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER23/07-10]
      [Amended] DFSA RM236/2019 (Made 20th February 2019). [VER43/02-19]

    • Public Listed Company

      Has the meaning given in Schedule 1 to the Regulatory Law 2004.

      [Added] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]
      [Amended] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Public Listed Company Auditor's Report

      A report referred to in MKT Rule 5.2.7(b).

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

    • Public REIT

      A Public FundG that is a Real Estate Investment TrustG (REIT).

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

    • Public Property Fund

      Is a Public FundG which is also a Property FundG .


      [Added] DFSA RM50/2007 (Made 1st October 2007). [VER16/10-07]

    • Public Sector Entities

      Bodies owned by central or regional governments or Local AuthoritiesG which perform regulatory and other non-commercial functions.


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