Entire Section

  • FER 2.2 FER 2.2 Application to carry on additional Financial Services

    • FER 2.2 Guidance

      Section 2.2 applies to a Person that is al licensed (i.e. an Authorised Firm or Authorised Market Institution), that applies for a further authorisation or endorsement.

      Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 2.2.1

      An Authorised Firm applying for authorisation to carry on additional Financial Services must pay to the DFSA an application fee equal to the difference between:

      (a) the basic fee which would be payable under FER Rule 2.1.1 (1) if it were an applicant for a Licence in terms currently being sought; and
      (b) the basic fee which would be payable under FER Rule 2.1.1 (1) if it were an applicant for a Licence in terms of that currently held.

      Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]

    • FER 2.2.2

      An Authorised Market Institution applying for authorisation to carry on an additional Financial Service must pay to the DFSA:

      (a) an application fee of $150,000 for the Financial Service of Operating a Clearing House; or
      (b) an application fee of $150,000 for the Financial Serviceof Operating an Exchange.

      Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
      [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

    • FER 2.2.3

      An Authorised Market Institution applying for an endorsement on its Licence authorising it to maintain an Official List of Securities must pay to the DFSA an additional application fee of $150,000.


      Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

    • FER 2.2.4

      An Authorised Firm applying for an authorisation, or an Authorised Market Institution applying for an endorsement, to carry on the additional Financial Service of Operating an Alternative Trading System must pay to the DFSA an additional application fee of $65,000.


      Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

    • FER 2.2.5 FER 2.2.5

      An Authorised Person must pay to the DFSA the following fee for an application for the following endorsements:

      (a) to act as a Trade Repository, $15,000;
      (b) to carry on a Financial Service with or for a Retail Client, $20,000;
      (c) to conduct Islamic Financial Business, $5,000;
      (d) to hold or control Client Assets, $5,000;
      (e) to hold Insurance Monies, $5,000;
      (f) to conduct Insurance Intermediation activities in respect of contracts of Long-Term Insurance, $5,000.
      Derived from [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.2.5 Guidance

        Only paragraphs (a) and (c) of Rule 2.2.5 are relevant to Authorised Market Institutions.

        Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 2.2.6 [Deleted]

      [Deleted] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 2.2.6 FER 2.2.6

      (1) If an Authorised Firm applies to the DFSA to change the scope of its Licence, and no fee is otherwise payable under this section for the application, the Authorised Firm must pay to the DFSA an application fee of $10,000 for the application.
      (2) Paragraph (1) does not apply to an application that is only to remove an authorisation, endorsement, activity or financial product from a Licence.

      [Added] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
      [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
      [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]
      [Amended] DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]

      • Guidance

        The reference to a change to the "scope" of a Licence covers any change to an authorisation, endorsement, activity, financial product, restriction or condition on the Licence (for which an application fee is not otherwise payable under this section). For example, an application to amend or remove a restriction on the Licence or to enable a firm to deal in Debentures instead of Shares or to add a product to the list of Investments that the firm may advise on.

        Derived from DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]