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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
[ C ] [Capital Requirement—Customer Due Diligence (CDD)]
Close Relative
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  • [ C ] [Capital Requirement—Customer Due Diligence (CDD)]

    • Capital Requirement

      The amount of capital an Authorised Firm 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 Firm 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 Insurer means a:

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

      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 Firms which determines the application of the Rules in PIB.


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

    • CCP

      Pursuant to GEN Rule 2.18.1(1)(a), a CCP is a Person who Operates a Clearing House by becoming a Central Counterparty.

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

    • Cell

      A cell created by a Protected Cell Company for the purpose of segregating and protecting cellular assets in the manner provided by the DIFC Companies Regulations.

      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 Shares.


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

    • Cell Shares

      Shares created and issued by a Protected Cell Company 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 Company attributable to the Company's Cells.


      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 Bank of the U.A.E. 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 Person operates as a Central Counterparty where it:

      (a) ensures the performance of open contracts relating to Investments, made on a facility for trading Investments; 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 Firm, the meaning given to that term under GEN Rule 2.13.1(3); and
      (b) in the case of an Authorised Market Institution, 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 Fee or charge made to a Client in connection with Investment Business, whether levied by the Authorised Firm or any other Person, including a Mark-up or Mark-down.


      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 DFSA by the Board.


      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 Rulebook.

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

    • Class

      In relation to a Contract of Insurance, 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 Cell established by a Protected Cell Company to which are attributable assets and liabilities arising out of Insurance Business only in respect of risks related to arising out of the business or operations of members of a Group which together hold a majority of Cell Shares, 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 Cell established by a Protected Cell Company to which are attributable assets and liabilities arising out of Insurance Business, 80% of the Gross Written Premium in any year being attributable to risks related to or arising out of the business or operations of members of a Group which together hold a majority of the Cell Shares, 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 Cell established by a Protected Cell Company:

      (a) to which are attributable assets and liabilities arising out of Insurance Business 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 Persons or by a Body Corporate of which all such Persons are members.
      [Added] DFSA RM14/2004 (as from 15th October 2004). [VER2/10-04]

    • Class 1 Captive Insurer

      A DIFC Incorporated Insurer permitted under the conditions of its licence to effect or carry out Contracts of Insurance only in respect of risks related to or arising out of the business or operations of the Group, 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 Insurer 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 Insurance in respect of risks related to or arising out of the business or operations of the Group, 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 Insurer which is:

      (a) permitted under the conditions of its licence to effect or carry out Contracts of Insurance 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 Persons or by a Body Corporate of which all such Persons are members.
      [Added] DFSA RM14/2004 (as from 15th October 2004). [VER2/10-04]

    • Class 7 Capital Requirement

      The capital requirement calculated in accordance with PIN section 4.5.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Deleted] RM46/2007 (Made 5th July 2007). [VER15/07-07]

    • 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 Institution which is authorised under its Licence to carry on the Financial Service of Operating a Clearing House.

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

    • Client

      A Retail Client, Professional Client or Market Counterparty 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 Money, an account specified in COB Rule A5.4.1; and
      (2) in relation to a Safe Custody Investment 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 Money and Client Investments.


      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 Rules 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 Law.

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

    • Close Links

      A Person (Person A) has Close Links with a Person (Person B) if:

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


      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 Rulebook.


      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 Institutions 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 IFAC.

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

    • Collateral

      (1) In PIB, any form of asset, guarantee, or indemnity which is held or controlled by an Authorised Firm and is subject to a security interest or arrangement in favour of that firm; and
      (2) In COB, a Client Investment which has been paid for in full by a Client and which is held or controlled by the Authorised Firm 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 Fund under Article 11 of the Collective Investment Law 2010 and which is not excluded under the Rules 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

      Debentures 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 Business.


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

    • Commodities Risk Capital Requirement

      A component of the Market Risk Capital Requirement 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 Derivative over a commodity

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

    • Complaint

      Any oral or written expression of dissatisfaction from a Client to an Authorised Firm in connection with the provision of, or failure to provide, a Financial Service to the Client.

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

    • Compliance Officer

      In relation to:

      (a) an Authorised Firm, the Licensed Function described in GEN Rule 7.4.6; and
      (b) an Authorised Market Institution, the Key Individual 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 Firm arising out of its Large Exposures.


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

    • Connected

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

      (a) a member of A's Group;
      (b) a Controller 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 Entity other than that of a Listed Fund, a Person referred to in MKT Rule 4.3.2; and
      (b) a Reporting Entity of a Listed Fund, a Person 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 Fund:

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

    • Contingent Liability Investment

      A Derivative under the terms of which the Client will or may be liable to make further payments (other than Charges, 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 Firm, a Person who, either alone or with any Associate fulfils the criteria specified in GEN Rule 11.8.2; or
      (2) in relation to an Authorised Market Institution a Person who, either alone or with any Associate 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 Investment that gives an investor the right to convert the Security into another form of Security 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 Company that elects to have its sole Corporate Director act as its Fund Manager, the body corporate that acts or intends to act as the Fund Manager.

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

    • Corporate Governance Principles

      Principles prescribed in MKT Rules 3.2.3 – 3.2.9.

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

    • Correspondent Account

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


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

    • Correspondent Bank

      A bank in a jurisdiction other than the DIFC where an Authorised Firm opens a Correspondent Account.


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

    • Correspondent Banking Client

      A Client of an Authorised Firm which uses the firm's correspondent banking services account to clear Transactions 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 Firm 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's Counterparty 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 DIFC Court.


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

    • Credit Default Product

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


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

    • Credit Derivatives

      An over the counter financial Derivative instrument, which enables the isolation and separate transfer of Credit Risk and whose payout is linked to changes in the Reference Assets' 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 Assets or Reference Entities in a Credit Derivatives 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 Seller pays to the Protection Buyer under a Credit Derivatives contract upon occurrence of a Credit Event.


      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 Person 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 Person carrying on in or from the DIFC the Financial Service of Operating a Credit Rating Agency for which it has an authorisation under its Licence.

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

    • Credit Risk

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


      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 Counterparty sells an Option to another Counterparty on a nominal amount of an asset swap on a specified Security, exercisable during a set period of time, in exchange for a payment of a premium where the Option 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 Security whose coupon payments are linked to the return on, and repayment of principal and is linked to the creditworthiness of, the Reference Assets.


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

    • Crowdfunding Loan Agreement

      A loan agreement entered into using a Loan Crowdfunding Platform operated by a Crowdfunding Operator.

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

    • Crowdfunding Operator

      A Person who is authorised under a Licence to Operate a Crowdfunding Platform.

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

    • Crowdfunding Platform

      An Investment Crowdfunding Platform, a Loan Crowdfunding Platform, or a Property Investment Crowdfunding Platform.

      [Added] DFSA RMI205/2017 (Made 14th June 2017). [VER38/08-17]
      [Amended] DFSA RMI257/2019 (Made 26th June 2019). [VER44/07-19]

    • CSD

      In relation to:

      (a) an Authorised Firm, a Person who carries on the activity specified in GEN Rule 2.13.1(3);
      (b) an Authorised Market Institution, a Person 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]