Entire Section

  • Notices

    • Waivers and Modification Notices

      The DFSA is empowered, under Article 25 of the Regulatory Law, to waive or modify any DFSA rule upon application by a Person, if it considers it appropriate to do so. The DFSA will publish details of these waivers or modifications unless it is satisfied that it is inappropriate or unnecessary to do so.

      Chapter 11 of the General (GEN) module of the DFSA Rulebook and chapter 9 of the Regulatory Policy and Process Sourcebook Module (RPP) outline how a Person can apply for a waiver or modification. Application forms are available in the Application Forms and Notices Module (AFN).

      • 2021

        • W849/2021 — B&F Partners Limited

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          WAIVER AND MODIFICATION NOTICE

          To B&F Partners Limited
          Address Office 409, Park Towers A, PO Box 73570, DIFC, Dubai, UAE
          DFSA Firm Reference No. F001976
          Notice No. W849/2021

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Mohamad El-Khalil
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 18/02/2021

           

        • W848/2021 — Hines Europe Real Estate Investments Limited (DIFC Representative Office)

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          WAIVER AND MODIFICATION NOTICE

          To Hines Europe Real Estate Investments Limited (DIFC Representative Office)
          Address Gate Village Building 4, Level 33, Office 33A, PO Box 113355, Dubai, UAE
          DFSA Firm Reference No. F006486
          Notice No. W848/2021

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          REP 4.7.4

          Marketing of Foreign Funds

          (1) A Representative Office must ensure that it does not market a Unit of a Foreign Fund which is a Property Fund unless:
          (a) The Fund is an Alternative Investment Fund (AIF)a closed ended structure; and
          (b) the Fund is listed and traded on an Authorised Market Institution or an exchange regulated in a Recognised Jurisdiction, unless the Units are to be Offered, issued or sold by means only of Private Placement.
          (2) For the purposes of (1), a "Property Fund" is a Foreign Fund in respect of which 60% or more of the Fund’s assets comprise Real Property, Property Related Assets or Units in another Property Fund.
          (3) For the purpose of (1)(a), a Fund is an AIF if it is managed by an Alternative Investment Fund Manager (AIFM) authorised by a competent authority in a Member State of the European Union in accordance with the requirements of Directive 2011/61/EU of the European Parliament and of the Council of Alternative Investment Fund Managers, as amended from time to time.

          Guidance

          A closed-ended legal structure is an investment vehicle used by a Fund that does not continuously issue or redeem Units based on the net asset value of the Fund.

          CONDITIONS

          The above-mentioned person must obtain written confirmation from the AIFM that Units in the Fund will only be Offered, issued or sold as follows:

          (a) by way of Private Placement;
          (b) to a Professional Investor who is not a natural person; and
          (c) for a minimum subscription of USD10 million.

          REVOCATION

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 8 February 2021

        • W847/2021 — Berkshire Hathaway Specialty Insurance Company

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          WAIVER AND MODIFICATION NOTICE

          To Berkshire Hathaway Specialty Insurance Company
          Address Unit 2105, Level 21, Index Tower, DIFC, PO Box 506861, Dubai, UAE
          DFSA Firm Reference No. F004309
          Notice No. W847/2021

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Mohamad El-Khalil
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 2 February 2021

           

        • W846/2021 — Nasdaq Inc

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          WAIVER AND MODIFICATION NOTICE

          To Nasdaq Inc
          Address 805 King Farm Boulevard, 1st Floor, Rockville, MD, 20850, United States
          DFSA Firm Reference No. F001025
          Notice No. W846/2021

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A do not apply to the above-mentioned Person.

          AND

          2. The Rules specified in the left-hand column of Table B do not apply to the above-mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          MKT Rule 3.2.10(a), (b) and (c) and App 4, Rule 3.3.8(1)(a), (c), (d), (e) and (f), Rule 3.4.2(2)(b)(i), Rule 3.5.3, Rule 4.2.3(1)(c), (2) and (3), Rule 4.2.4(2), (3), (4), (5) and (6), Rule 4.3.3, Rule 4.3.5, Rule 4.4.3, Rule 4.4.4, Rule 4.6.1 and App 2 (items 2.2(b), 2.3, 2.5, 3.1, 7.1, 7.2), Rule 5.1.4(2)(h), Rule 9.7.4, Rule 9.7.8 and App 6.2 (items 4, 5, 6, 7, 8, 9 and 11).

          RULES MODIFIED

          The Rules specified in the left-hand column are modified to the extent shown in the right-hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain unaltered the entire Rule may not be reproduced in the table. In such circumstances the unaltered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          MKT 3.4.4

          The prohibition in Rule 3.4.2(1) does not apply in relation to any dealing in Securities in the Reporting Entity if such dealing by the Restricted Person relates to:

          (a) undertakings or elections to take up, or the taking up of, an entitlement under a rights issue or dividend reinvestment offer, or allowing such an entitlement or offer to lapse;
          (b) undertakings to accept, or the acceptance of, a Takeover Offer under Takeover Rules;
          (c) dealings where the beneficial interest in the relevant Security does not change;
          (d) transactions between the Restricted Person and an Associate of such a person; or
          (e) transactions relating to dealings in an Employee Share Scheme in accordance with the terms of such a scheme.;
          (f) where the Reporting Entity has a written policy restricting Restricted Persons from dealing in Securities during a close period, any dealing in Securities that is expressly permitted under that policy as a limited exception to the restrictions, such as exceptions with respect to purchases of newly issued Securities from the Reporting Entity, exercise of stock options for cash and transactions approved in advance by policy administrators on an individual basis in limited circumstances described in the policy; or
          (g) dealings in Securities that are required by law, including in accordance with an order of a court or other governmental entity of competent jurisdiction, or pursuant to a written sales plan adopted in accordance with Rule 10b5-1 under the US Securities Exchange Act 1934.
          MKT
          APP 2
          A.2.1.1
          A.2.1.2  

          MARKET DISCLOSURE

          This table forms part of Rule 4.6.1.

          A Reporting Entity other than a Listed Fund must, on the occurrence of an event specified in column 1, make the required disclosure detailed in column 2, within the time specified in column 3, in respect of the Securities identified with a “✓” in column 4, of this Table.

            EVENT GIVING RISE TO DISCLOSURE OBLIGATION DISCLOSURE REQUIRED TIME OF DISCLOSURE ...
          ... ... ... ... ...
          2.2(b)
          (a) …
          (b) the resignation, retirement or removal of an existing Director; and
          (c) …

          Market disclosure of:

          (a) the effective date of the change (if it has been decided);
          (b) whether the position is executive or non-executive;
          (c) whether the position is considered to be independent; and
          (d) the nature of any functions or responsibility of the position.
          As soon as possible or as otherwise required under relevant U.S. laws and regulations or securities exchange rules. ...
          2.3 In the case of an appointment of a new Director.

          Market disclosure of:

          (a) all directorships past or present held by the Director in any other Body Corporate in the previous five years;
          (b) the experience of the Director;
          (c) details of the process by which the Director was selected;
          (d) any unspent convictions relating to serious criminal offences;
          (e) any bankruptcies or individual voluntary arrangements of the Director;
          (f) any compulsory liquidations, creditors voluntary liquidations, company voluntary arrangements, receivership or any composition or arrangement with creditors generally or any class of creditors of any Body Corporate where such an individual was the Director at the time of or within the 12 months preceding the occurrence of such events; and
          (g) any public criticism or disqualification of the individual by a governmental or regulatory authority and whether the individual has ever been disqualified by a court from acting as a Director of a Body Corporate or from acting in the management or conduct of the affairs of any Body Corporate or, if there are no such details to be disclosed, that fact.
          Within 7 days of the appointment As required under relevant U.S. laws and regulations or securities exchange rules. ...
          2.5 Any resolution passed by the Directors of the Reporting Entity other than a resolution concerning ordinary business of the Reporting Entity. Market disclosure of the resolution. As soon as possible or as otherwise required under relevant U.S. laws and regulations or securities exchange rules. ...
          3.1

          Transactions undertaken which could result in:

          (a) any significant investment (i.e. any investments equal to or greater than 5% of the value of the net assets of the Reporting Entity as per its most recent financial reports) or material change to such a significant investment outside the ordinary course of business of the Reporting Entity; or
          (b) the incurring of any significant debt (being a debt with an amount equal to or greater than 5% of the value of the net assets of the Reporting Entity as per its most recent financial reports) outside the usual and ordinary course of business of the Reporting Entity.

          Market disclosure relating to:

          (a) any decision to enter into such a transaction;
          (b) any material change or new matter affecting any matter contained in an earlier disclosure; and
          (c) a full description of the event, activity or transaction proposed or effected, as the case may be.
          As soon as possible or as otherwise required under relevant U.S. laws and regulations or securities exchange rules. ...
          7.1 Any proposed new issue of Securities. Market disclosure of the class, number and proposed date of issue and details of the changes to the share capital resulting from the new issue proposed. As soon as possible after the decision is made or as otherwise required under relevant U.S. laws and regulations or securities exchange rules. ...
          7.2 Results of the new issue.

          Market disclosure of the results of the issue including:

          (a) the class, number and the actual date of the issue;
          (b) consideration received; and
          (c) details of changes in the share capital.
          As soon as possible or as otherwise required under relevant U.S. laws and regulations or securities exchange rules. ...

          CONDITIONS

          The Issuer must retain its primary listing on the Nasdaq Stock Market and continue to be subject to the rules of the Nasdaq Stock Market, SEC regulatory framework and relevant US law as amended or waived or modified from time to time.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Eric Salomons
             
          Position: Head of Markets
             
          DATE OF ISSUE: 27 January 2021

        • W845/2021 — SEE Capital Limited

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          WAIVER AND MODIFICATION NOTICE

          To SEE Capital Limited
          Address Level 2, Gate Village Building 4, DIFC, PO Box 506734,
          Dubai, UAE
          DFSA Firm Reference No. F003986
          Notice No. W845/2021

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the Table below do not apply to the above mentioned Person in respect of Sustainable REIT 1 (CEIC) Limited (‘the Fund’).

          TABLE OF RULES WAIVED

          Rule Modified Text
          IFR 6.3.1 and 6.3.2.

          CONDITIONS

          N/A

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 27 January 2021

        • W844/2021 — Howden Insurance Brokers Limited

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          MODIFICATION NOTICE

          To Howden Insurance Brokers Limited
          Address Unit 07, Level 1, Gate Village Building 11, DIFC, Dubai, PO Box 482078, UAE
          DFSA Firm Reference No. F006564
          Notice No. W844/2021

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.2.2
          (1) An Authorised Person must, except as provided under Rule 8.2.3, prepare and maintain all financial statements in accordance with:
          (a) the International Financial Reporting Standards (IFRS); or
          (b) the Generally Accepted Accounting Principles in the United Kingdom (UK GAAP).
          (2) In this Rule, UK GAAP means accounting and valuation principles set-out in the guidelines of the UK Accounting Standards Board.
          GEN 8.6.1 An Authorised Person must, in writing, require its Auditor to:
          (a) conduct an audit of and produce a Financial Statement Auditor's Report on the Authorised Person's financial statements in accordance with the International Standards on Auditing, or the International Standards on Auditing (UK and Ireland) (ISAs (UK and Ireland)) issued by the UK Audit and Assurance Council;
          (b) produce a Regulatory Returns Auditor's Report in accordance with the Rules in AUD App1 as relevant;
          (c) produce, if the Authorised Firm is permitted to control or hold Client Money, a Client Money Auditor's Report in accordance with the Rules in AUD App2;
          (d) produce, if the Authorised Firm is permitted to control or hold Insurance Monies, an Insurance Monies Auditor's Report in accordance with the Rules in AUD App3; and
          (e) produce, if the Authorised Firm is permitted to hold or control Client Investments, Arrange Custody or Provide Custody in or from the DIFC, a Safe Custody Auditor's Report in respect of such business as applicable, in accordance with the Rules in AUD App4.

          CONDITIONS

          The modification in respect of the Rules specified above remains in effect for the duration of the period set out below on condition that the above named Person to whom this notice applies carries on Financial Services through a Branch in the DIFC.

          If the condition stated above is breached, this notice ceases to have effect forthwith and the Rules specified in the table herein apply to the above mentioned Person to whom this notice applies in their unmodified form as they appear in the applicable module of the Rulebook in force at the relevant time.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 21 January 2021

        • W843/2021 — Howden Insurance Brokers Limited

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          MODIFICATION NOTICE

          To Howden Insurance Brokers Limited
          Address Unit 07, Level 1, Gate Village Building 11, DIFC, Dubai, PO Box 482078, UAE
          DFSA Firm Reference No. F006564
          Notice No. W843/2021

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a),—and (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 21 January 2021

           

        • W842/2021 — The Access Bank UK Limited

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          MODIFICATION NOTICE

          To The Access Bank UK Limited
          Address Unit 1543, Level 15, Gate Building, DIFC, PO Box 121208, Dubai, UAE
          DFSA Firm Reference No. F003593
          Notice No. W842/2021

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 20th January 2021

           

        • W841/2021 — Mex Australia Pty Ltd. (DIFC Branch)

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          WAIVER AND MODIFICATION NOTICE

          To Mex Australia Pty Ltd. (DIFC Branch)
          Address Unit 8, Level 3, Gate Village Building 10, DIFC, PO Box 4055, Dubai, UAE
          DFSA Firm Reference No. F004403
          Notice No. W841/2021

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.2.2
          (1) An Authorised Person must, except as provided under Rule 8.2.3, prepare and maintain all financial statements in accordance with:
          (a) the International Financial Reporting Standards (IFRS).; or
          (b) the Australian Accounting Standards.
          (2) In this Rule, the Australian Accounting Standards means the accounting, valuation and reporting standards set out by the Australian Accounting Standards Board (AASB).
          GEN 8.6.1
          An Authorised Person must, in writing, require its Auditor to:
          (a) conduct an audit of and produce a Financial Statement Auditor’s Report on the Authorised Person’s financial statements in accordance with the International Standards on Auditing, or the auditing and assurance standards issued by the Australian Auditing and Assurance Standards Board (AUASB);
          (b) produce a Regulatory Returns Auditor’s Report in accordance with the Rules in AUD App1 as relevant;
          (c) produce, if the Authorised Firm is permitted to control or hold Client Money, a Client Money Auditor’s Report in accordance with the Rules in AUD App2;
          (d) produce, if the Authorised Firm is permitted to control or hold Insurance Monies, an Insurance Monies Auditor’s Report in accordance with the Rules in AUD App3;
          (e) produce, if the Authorised Firm is permitted to hold or control Client Investments or Provide Custody in or from the DIFC, a Safe Custody Auditor’s Report in respect of such business as applicable, in accordance with the Rules in AUD App4; and
          (f) provide a Money Services Auditor's Report in accordance with the Rules in AUD App7, if the Authorised Firm is Providing Money
          Services, Account Information Services or Payment Initiation Services.

          CONDITIONS

          The modifications in respect of the Rules specified above remain in effect for the duration of the period set out below on condition that the above named Person to whom this notice applies carries on Financial Services through a Branch in the DIFC.

          If the condition stated above is breached, this notice ceases to have effect forthwith and the Rules specified in the table herein apply to the above mentioned Person to whom this notice applies in their unmodified form as they appear in the applicable module of the Rulebook in force at the relevant time.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 4 January 2021

      • 2020

        • W840/2020 — Guy Carpenter (Middle East) Limited

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          WAIVER AND MODIFICATION NOTICE

          To Guy Carpenter (Middle East) Limited
          Address Unit 02, Level 3, Currency House Building 1, DIFC, PO Box 506572, Dubai, UAE
          DFSA Firm Reference No. F001789
          Notice No. W840/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Mohamad El-Khalil
             
          Position: Acting Managing Director, Supervision
             
          DATE OF ISSUE: 27 December 2020

        • W839/2020 — Smart Crowd Limited

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Smart Crowd Limited
          Address The FinTech HIVE at DIFC, Level 4, Gate Precinct 5, DIFC, Dubai, UAE
          DFSA Firm Reference No. F004285
          Notice No. W839/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 2 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchinno
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 16 December 2020

           

        • W838/2020 — Soor Capital Management (DIFC) Limited

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Soor Capital Management (DIFC) Limited
          Address Gate Village 08, Level 3, Unit Number 06 Dubai International Financial Centre Dubai PO Box 74777
          DFSA Firm Reference No. F004659
          Notice No. W838/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in Table 1 to this notice are waived in relation to the above-mentioned person.

          The Rules specified in the left-hand column of Table 2 do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES WAIVED

          TABLE 1
          Module Rule/s
          GEN GEN 7.5.2

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 28 February 2021 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 14 December 2020

           

        • W837/2020 — Tellimer International Limited

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Tellimer International Limited
          Address Unit 215, Level 2, Building 5, Gate Village, DIFC, PO Box 507243, Dubai, UAE
          DFSA Firm Reference No. F006309
          Notice No. W837/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), and (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 13 December 2020

           

        • W836/2020 — HC Middle East Limited

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To HC Middle East Limited
          Address Level 3, Gate Village 6, Dubai International Financial Centre, PO Box 506673, Dubai, UAE
          DFSA Firm Reference No. F000667
          Notice No. W836/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Chris Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 13 December 2020

           

        • W835/2020 — Houlihan Lokey (MEA Financial Advisory) Limited

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Houlihan Lokey (MEA Financial Advisory) Limited
          Address Unit 1204, Level 12, Index Tower, DIFC, PO Box 507303, Dubai, UAE
          DFSA Firm Reference No. F002414
          Notice No. W835/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 10 December 2020

           

        • W834/2020 — MS Amlin (MENA) Limited

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To MS Amlin (MENA) Limited
          Address Level 3, Precinct Building 2, DIFC, PO Box 506929, Dubai, UAE
          DFSA Firm Reference No. F002680
          Notice No. W834/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 9 December 2020

           

        • W833/2020 — StormHarbour Securities LLP

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To StormHarbour Securities LLP
          Address Unit 6, Level 15, Gate Building, DIFC, PO Box 121208, Dubai, UAE
          DFSA Firm Reference No. F004138
          Notice No. W833/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 8th December 2020

           

        • W831/2020 — Macquarie Bank Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Macquarie Bank Limited
          Address Office 4, Level 3, Building 11, The Gate Village, DIFC, PO Box 506751, Dubai, UAE
          DFSA Firm Reference No. F001369
          Notice No. W831/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of Table 2 below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 11.6.1
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 44 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on 28 November 2020 (the day after the expiry of the previous notice dated 27 August 2020 (W803/2020)) and remains in force until 31 March 2021.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 16 November 2020

           

        • W830/2020 — EC3 Brokers MEA Limited

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To EC3 Brokers MEA Limited
          Address Office No ST 20-06, Level 20, Emirates Financial Towers, DIFC, Dubai, UAE
          DFSA Firm Reference No. F002018
          Notice No. W830/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Mohamad El-Khalil
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 15 November 2020

           

        • W829/2020 — AxiCorp Financial Services Pty Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To AxiCorp Financial Services Pty Ltd
          Address Office 105, Level 1, Tower 2, Al Fattan Currency House, DIFC, PO Box 507299, Dubai, UAE
          DFSA Firm Reference No. F003742
          Notice No. W829/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2
          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person's financial year end.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end.
          (2) …..
          PIB 10.4.2
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          The modifications in this notice apply only in respect of the firm’s financial year that ended on 30 June 2020.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until the end of 30 November 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 08 November 2020

           

        • W828/2020 — SinoGulf (DIFC) Limited

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To SinoGulf (DIFC) Limited
          Address Suite 414, Liberty House, DIFC, PO Box 49929, Dubai, UAE
          DFSA Firm Reference No. F000633
          Notice No. W828/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 4th November 2020

           

        • W827/2020 — StashAway (DIFC) Limited

          Click here to view PDF.

          WAIVER NOTICE

          To StashAway (DIFC) Limited
          Address Unit 1301-B, Level 13, Emirates Financial Towers, DIFC, PO Box 507051, Dubai, UAE
          DFSA Firm Reference No. F006312
          Notice No. W827/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified to this notice are waived in relation to the above-mentioned person.

          RULES WAIVED

          Module Rule/s
          GEN GEN 7.5.2

          CONDITIONS

          The relief provided in this notice is applicable insofar as government restrictions on commercial travel from Singapore to the UAE due to the COVID-19 pandemic remain in place.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 December 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director
             
          DATE OF ISSUE: 28 October 2020

           

        • W826/2020 — GII Capital Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To GII Capital Ltd
          Address Unit 101, Level 1, Currency House Tower 2, DIFC, PO Box 507240, Dubai, UAE
          DFSA Firm Reference No. F004276
          Notice No. W826/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. GII Islamic REIT (CEIC) Plc (C000055)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four eleven months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 November 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W808/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 21 October 2020

           

        • W825/2020 — Wethaq (Capital Markets) Ltd

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Wethaq (Capital Markets) Ltd
          Address Unit GA-00-SZ-L 1-RT-208, Level 1, Gate Avenue, Dubai International Financial Centre, Dubai, 50721, United Arab Emirates
          DFSA Firm Reference No. F005322
          Notice No. W825/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 19 October 2020

           

        • W824/2020 — Alcazar Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alcazar Capital Limited
          Address Unit N2202, N2203, N2204, Floor 22, Emirates Financial Towers, DIFC, PO Box 506672, Dubai, UAE
          DFSA Firm Reference No. F000631
          Notice No. W824/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. Alcazar Alpha Fund I (CEIC) Limited (C000068)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four ten months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 October 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W812/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 07 October 2020

           

        • W823/2020 — Tavira Securities Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Tavira Securities Limited
          Address Unit 1304-B, Level 13, Emirates Financial Towers, DIFC, PO Box 507091 Dubai, UAE
          DFSA Firm Reference No. F002929
          Notice No. W823/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four seven months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 October 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W809/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 07 October 2020

           

        • W822/2020 — BCS Capital (DIFC) Limited

          Click here to view PDF.

          WAIVER NOTICE

          To BCS Capital (DIFC) Limited
          Address Unit 411, Level 4, Index Tower, DIFC, PO Box 507341, Dubai, UAE.
          DFSA Firm Reference No. F004980
          Notice No. W822/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the table to this notice are waived in relation to the above-mentioned person.

          RULES WAIVED

          TABLE
          Module Rule/s
          GEN GEN 7.5.2

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 1 January 2021 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 6 October 2020

           

        • W821/2020 — NBF Capital Limited

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To NBF Capital Limited
          Address Office No 303, Precinct Building 4, DIFC, PO Box 128217, Dubai, UAE
          DFSA Firm Reference No. F001941
          Notice No. W821/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          GEN 11.6.1
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 24 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force for 3 months.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 5 October 2020

           

        • W820/2020 — Macquarie Bank Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Macquarie Bank Limited
          Address Office 4, Level 3, Building 11, The Gate Village, DIFC, PO Box 506751, Dubai, UAE
          DFSA Firm Reference No. F001369
          Notice No. W820/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), and (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 1 October 2020

           

        • W819/2020 — SEE Capital Limited

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To SEE Capital Limited
          Address Level 2, Gate Village Building 4, DIFC, PO Box 506734, Dubai, UAE
          DFSA Firm Reference No. F003986
          Notice No. W819/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 11.6.1
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 24 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 29 December 2020.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 30 September 2020

           

        • W818/2020 — Bambucorn Ltd

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Bambucorn Ltd
          Address Unit GA-00-SZ-L1-RT-208, Level 1, Gate Avenue - South Zone Dubai International Financial Centre, P O Box 507211 Dubai, United Arab Emirates
          DFSA Firm Reference No. F005637
          Notice No. W818/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in Table 1 to this notice are waived in relation to Bambucorn Ltd.

          The Rules specified in the left hand column of Table 2 to this notice do not apply to Bambucorn in the form appearing in the Rulebook but instead apply as modified in the right hand column of that table.

          RULES WAIVED

          TABLE 1
          Module Rules
          GEN Section 5.2, Rules 5.3.4, 5.3.5, 5.3.6, 5.3.13, 5.3.14, 5.3.15, 5.3.30, 5.3.31, Sections 8.2, 8.3 and Rule 8.6.3.

          RULES MODIFIED

          TABLE 2
          Rule Modified Text
          GEN 7.4.2
          The Senior Executive Officer function is carried out by an individual who:
          (a) has, either alone or jointly with other Authorised Individuals, ultimate responsibility for:
          (i) the day-to-day management, supervision and control of one or more (or all) parts of an Authorised Firm’s Financial Services carried on in or from the DIFC;
          (ii) carrying out the functions of the Finance Officer including responsibility for the Authorised Firm’s compliance with the applicable Rules in PIN or PIB;
          (iii) carrying out the functions of the Compliance Officer including responsibility for compliance matters in relation to the Authorised Firm’s Financial Services; and
          (iv) carrying out the functions of the Money Laundering Reporting Officer including the responsibility for the implementation of the Authorised Firm’s anti-money laundering policies, procedures, systems and controls and oversight of its compliance with the Rules in AML and any relevant anti money laundering legislation applicable in the DIFC; and
          (b) is a Director, Partner or Senior Manager of the Authorised Firm.
          GEN 8.6.1
          An Authorised Person must, in writing, require its Auditor to:
          (a) conduct an audit of and produce a Financial Statement Auditor’s Report on the Authorised Person’s financial statements in accordance with the International Standards on Auditing;
          (b) produce a Regulatory Returns Auditor’s Report in accordance with the Rules in AUD App1 as relevant;
          (c) (a) produce, if the Authorised Firm is permitted to control or hold Client Money, a Client Money Auditor’s Report in accordance with the Rules in AUD App2; and
          (d) produce, if the Authorised Firm is permitted to control or hold Insurance Monies, an Insurance Monies Auditor’s Report in accordance with the Rules in AUD App3; and
          (e) (b) produce, if the Authorised Firm is permitted to hold or control Client Investments or Provide Custody in or from the DIFC, a Safe Custody Auditor’s Report in respect of such business as applicable, in accordance with the Rules in AUD App4.
          (f) provide a Money Services Auditor's Report in accordance with the Rules in AUD App7, if the Authorised Firm is Providing Money Services, Account Information Services or Payment Initiation Services.
          PIB 3.6.2
          The table below sets out the Base Capital Requirement for each Category of an Authorised Firm.
             Category    Base Capital Requirement
          Category 1 US $10 million
           
          Category 2 US $2 million
           
          Category 3A US $500,000
           
          Category 3B

          US $4 million

          Except if the only Financial Service referred to in Rule 1.3.4 is Operating an Employee Money Purchase Scheme or Acting as the Administrator of an Employee Money Purchase Scheme, in which case the Base Capital Requirement is US $1 million.
           

          Category 3C

          US $500,000

          Except if the only Financial Service referred to in Rule 1.3.5(a) that the Authorised Firm is authorised to carry on is Managing a Collective Investment Fund in which case its Base Capital Requirement is:

          (a) US $140,000 if it manages any Public Fund; or
          (b) US $70,000 otherwise.
           
          Category 3D US $200,000
           
          Category 4

          US $ 10,000

          Except if the Authorised Firm:
          (a) is authorised to Operate a Crowdfunding Platform and it holds Client Assets; or
          (b) provides Money Transmission,

          in which case its Base Capital Requirement is US $140,000 40,000.
           

          Category 5 US $10 million
           
          PIB 6.12.2
          Except for the first two token issuances, an Authorised Firm must:
          (a) take out and maintain professional indemnity insurance cover appropriate to the nature, size, complexity and risk profile of the Authorised Firm’s business;
          (b) at least annually, provide the DFSA with a copy of the professional indemnity insurance cover in (a) covering the following twelve month period; and
          (c) notify the DFSA of any material changes to the cover in (a), including the level of cover, its renewal or termination.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for a period of 12 months from this date.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms (other than any terms that are specifically defined above in lower case) are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 30 September 2020

           

        • W817/2020 — Akin Gump Strauss Hauer & Feld LLP

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Akin Gump Strauss Hauer & Feld LLP
          Address ICD Brookfield Place, Level 10, Al Mustaqbal Street, DIFC, PO Box 120109, Dubai, UAE
          DFSA Firm Reference No. F005271
          Notice No. W817/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), and (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director
             
          DATE OF ISSUE: 27 September 2020

           

        • W817/2020 — Akin Gump Strauss Hauer & Feld LLP

          Click here to view PDF.

          MODIFICATION NOTICE

          To Akin Gump Strauss Hauer & Feld LLP
          Address ICD Brookfield Place, Level 10, Al Mustaqbal Street, DIFC, PO Box 120109, Dubai, UAE
          DFSA Firm Reference No. F005271
          Notice No. W817/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), and (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Arvind Baghel
             
          Position: Acting Managing Director
             
          DATE OF ISSUE: 24 September 2020

           

        • W816/2020 — AlArabi Investments Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alarabi Investments Limited
          Address Unit 117, Damac Park Tower A, DIFC, PO Box 500743, Dubai, UAE
          DFSA Firm Reference No. F005287
          Notice No. W816/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table in relation to the following Funds managed by the above mentioned Person:

          (a) Stelios GCC Opportunities Fund (CEIC) Limited; and
          (b) Stelios Global Opportunities Fund (CEIC) Limited.

          RULES MODIFIED

          The Rules specified in the left-hand column are modified to the extent shown in the right-hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          CIR 8.2.4 For the purposes of the Rules in this module, except as provided in Rule 8.2.5, an Eligible Custodian is a Person who is a separate legal entity from the Fund Manager and who also meets one of the following criteria:
          (g) a legal entity that is authorised or recognised by a Financial Services Regulator to operate as an exchange or a clearing house in a Recognised Jurisdiction; or
          (h) a legal entity that is:
          (i) controlled and wholly owned by one or more of the national governments of the five member states of the Gulf Cooperation Council, other than the State; and
          (ii) authorised to provide custody services, and supervised, by a Financial Services Regulator of at least one of the national governments specified in (i).; or
          (i) a legal entity that is:
          (i) controlled and wholly owned by a bank:
          (A) whose securities are listed and traded on a Regulated Exchange in the Kingdom of Saudi Arabia; and
          (B) which is authorised and supervised by a Financial Services Regulator in the Kingdom of Saudi Arabia; and
          (ii) authorised to provide custody services, and supervised, by a Financial Services Regulator in the Kingdom of Saudi Arabia.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 21 September 2020

           

        • W815/2020 — Dalma Capital Management Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Dalma Capital Management Limited
          Address Suite 103 & 104, Level 1, Gate Village 5, DIFC, PO Box 9361, Dubai, UAE
          DFSA Firm Reference No. F002345
          Notice No. W815/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. Modification notice No. W560/2018 dated 18 March 2018 is revoked and replaced by this modification notice.
          2. The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in respect of Quencia Open Ended PCC Limited in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. The un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          CIR 8.2.4 For the purposes of the Rules in this module, an Eligible Custodian is a Person who is a separate legal entity from the Fund Manager and who also meets one of the following criteria:
          (g) a legal entity that is authorised or recognised by a Financial Services Regulator to operate as an exchange or a clearing house in a Recognised Jurisdiction; or
          (h) a legal entity that is:
          (i) controlled and wholly owned by one or more of the national governments of the five member states of the Gulf Cooperation Council, other than the State; and
          (ii) authorised to provide custody services, and supervised, by a Financial Services Regulator of at least one of the national governments specified in (i).; or
          (i) a legal entity that is:
          (i) controlled and wholly owned by a bank:
          (A) whose securities are listed and traded on a Regulated Exchange in the Kingdom of Saudi Arabia; and
          (B) which is authorised and supervised by a Financial Services Regulator in the Kingdom of Saudi Arabia; and
          (ii) authorised to provide custody services, and supervised, by a Financial Services Regulator in the Kingdom of Saudi Arabia.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 21 September 2020

           

        • W814/2020 — BearBull Global Investments Group Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To BearBull Global Investments Group Limited
          Address Unit Office 07, Level 1, Gate Village Building 3, DIFC, Po Box 12767, Dubai, UAE
          DFSA Firm Reference No. F003940
          Notice No. W814/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rule specified in the left-hand column of the table does not apply in the form appearing in the Rulebook but instead applies as modified in the right-hand column of the table to the abovementioned Person in respect of BearBull Real Estate Opportunity Fund (CEIFC) Limited, a Fund it manages.

          RULES MODIFIED

          The Rules specified in the left-hand column are modified to the extent shown in the right-hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text 
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four six months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) …

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 March 2021 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Sara Kalban
             
          Position: Associate Director
             
          DATE OF ISSUE: 9 September 2020

           

        • W813/2020 — Rasameel Investment House Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Rasameel Investment House Limited
          Address Unit S520A, Level 5, Emirates Financial Towers, DIFC, PO Box 506878, Dubai, UAE
          DFSA Firm Reference No. F000930
          Notice No. W813/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 7 September 2020

           

        • W812/2020 — Alcazar Capital Limited (Alcazar Alpha Fund I (CEIC) Limited)

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alcazar Capital Limited
          Address Unit N2202, N2203, N2204, Floor 22, Emirates Financial Towers, DIFC, PO Box 506672, Dubai, UAE
          DFSA Firm Reference No. F000631
          Notice No. W812/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. Alcazar Alpha Fund I (CEIC) Limited (C000068)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text 
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four nine months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 September 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W798/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 02 September 2020

           

        • W811/2020 — Alcazar Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alcazar Capital Limited
          Address Unit N2202 , N2203 , N2204 , Floor 22, Emirates Financial Towers, DIFC, PO Box 506672, Dubai, UAE
          DFSA Firm Reference No. F000631
          Notice No. W811/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four nine months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four nine months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four nine months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 September 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W797/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 02 September 2020

           

        • W810/2020 — Dar Al Mar Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Dar Al Mal Limited
          Address Unit No 501, Gate Precint Building No 3, DIFC, PO Box 482083, Dubai, UAE
          DFSA Firm Reference No. F001417
          Notice No. W810/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four ten months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four ten months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four ten months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 October 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W800/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 02 September 2020

           

        • W809/2020 — Tavira Securities Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Tavira Securities Limited
          Address Unit 1304-B, Level 13, Emirates Financial Towers, DIFC, PO Box 507091 Dubai, UAE
          DFSA Firm Reference No. F002929
          Notice No. W809/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 September 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W801/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 02 September 2020

           

        • W808/2020 — GII Capital Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To GII Capital Ltd
          Address Unit 101, Level 1, Currency House Tower 2, DIFC, PO Box 507240, Dubai, UAE
          DFSA Firm Reference No. F004276
          Notice No. W808/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. GII Islamic REIT (CEIC) Plc (C000055)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text 
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four nine months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 September 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W796/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 02 September 2020

           

        • W807/2020 — NBK Capital Partners Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To NBK Capital Partners Limited
          Address Level 4, Precinct Building 3, DIFC, PO Box 506506, Dubai, UAE
          DFSA Firm Reference No. F000150
          Notice No. W807/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 30 August 2020

           

        • W806/2020 — Tera Europe Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Tera Europe Limited
          Address Unit GA-00-SZ-L1-RT-201, Level 1, Gate Avenue, South Zone, DIFC, PO Box 507211, UAE
          DFSA Firm Reference No. F005527
          Notice No. W806/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 30 August 2020

           

        • W805/2020 — Tera Europe Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Tera Europe Limited
          Address Unit GA-00-SZ-L1-RT-201, Level 1, Gate Avenue, South Zone, DIFC, PO Box 507211, UAE
          DFSA Firm Reference No. F005527
          Notice No. W805/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.2.2
          (1) An Authorised Person must, except as provided under Rule 8.2.3, prepare and maintain all financial statements in accordance with:
          (a) the International Financial Reporting Standards (IFRS); or
          (b) the Generally Accepted Accounting Principles in the United Kingdom (UK GAAP).
          (2) In this Rule, UK GAAP means accounting and valuation principles set-out in the guidelines of the UK Accounting Standards Board.
          GEN 8.6.1 An Authorised Person must, in writing, require its Auditor to:
          (a) conduct an audit of and produce a Financial Statement Auditor's Report on the Authorised Person's financial statements in accordance with the International Standards on Auditing, or the International Standards on Auditing (UK and Ireland) (ISAs (UK and Ireland)) issued by the UK Audit and Assurance Council;
          (b) produce a Regulatory Returns Auditor's Report in accordance with the Rules in AUD App1 as relevant;
          (c) produce, if the Authorised Firm is permitted to control or hold Client Money, a Client Money Auditor's Report in accordance with the Rules in AUD App2;
          (d) produce, if the Authorised Firm is permitted to control or hold Insurance Monies, an Insurance Monies Auditor's Report in accordance with the Rules in AUD App3; and
          (e) produce, if the Authorised Firm is permitted to hold or control Client Investments, Arrange Custody or Provide Custody in or from the DIFC, a Safe Custody Auditor's Report in respect of such business as applicable, in accordance with the Rules in AUD App4.

          CONDITIONS

          The modification in respect of the Rules specified above remains in effect for the duration of the period set out below on condition that the above named Person to whom this notice applies carries on Financial Services through a Branch in the DIFC.

          If the condition stated above is breached, this notice ceases to have effect forthwith and the Rules specified in the table herein apply to the above mentioned Person to whom this notice applies in their unmodified form as they appear in the applicable module of the Rulebook in force at the relevant time.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 30 August 2020

           

        • W804/2020 — Lighthouse Canton Capital (DIFC) Pte Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Lighthouse Canton Capital (DIFC) Pte Limited
          Address Unit 204, Level 2, Gate Village 11, DIFC, PO Box 507026, Dubai, UAE
          DFSA Firm Reference No. F004068
          Notice No. W804/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 11.6.1
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 24 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force for 3 months.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director
             
          DATE OF ISSUE: 27/08/2020

           

        • W803/2020 — Macquarie Bank Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Macquarie Bank Limited
          Address Office 4, Level 3, Building 11, The Gate Village, DIFC, PO Box 506751, Dubai, UAE
          DFSA Firm Reference No. F001369
          Notice No. W803/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 11.6.1
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 26 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force for 3 months.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director
             
          DATE OF ISSUE: 27/08/2020

           

        • W802/2020 — Cheyne Capital (MENA) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Cheyne Capital (MENA) Limited
          Address Office 305, Level 3, Gate Village 6, DIFC, PO Box 507282, Dubai, UAE
          DFSA Firm Reference No. F001845
          Notice No. W802/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 August 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 09 August 2020

           

        • W801/2020 — Tavira Securities Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Tavira Securities Limited
          Address Unit 1304-B, Level 13, Emirates Financial Towers, DIFC, PO Box 507091 Dubai, UAE
          DFSA Firm Reference No. F002929
          Notice No. W801/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 August 2020 or until further notice, whichever is the earlier

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 09 August 2020

           

        • W800/2020 — Dar Al Mal Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Dar Al Mal Limited
          Address Unit No 501, Gate Precint Building No 3, DIFC, PO Box 482083, Dubai, UAE
          DFSA Firm Reference No. F001417
          Notice No. W800/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four eight months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four eight months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four eight months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 August 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W766/2020 ceases to have effect from the date of issue of this notice

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 09 August 2020

           

        • W799/2020 — Deutsche Bank AG

          Click here to view PDF.

          MODIFICATION NOTICE

          To Deutsche Bank AG
          Address Building 5, Level 6, The Gate Village, PO Box 504902, DIFC, Dubai, UAE
          DFSA Firm Reference No. F000045
          Notice No. W799/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 11.6.1
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 29 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force for 3 months.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 9 August 2020

           

        • W798/2020 — Alcazar Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alcazar Capital Limited
          Address Unit N2202 , N2203 , N2204 , Floor 22, Emirates Financial Towers, DIFC, PO Box 506672, Dubai, UAE
          DFSA Firm Reference No. F000631
          Notice No. W798/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. Alcazar Alpha Fund I (CEIC) Limited (C000068)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four eight months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 August 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W787/2020 ceases to have effect from the date of issue of this notice

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 9 August 2020

           

        • W797/2020 — Alcazar Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alcazar Capital Limited
          Address Unit N2202 , N2203 , N2204 , Floor 22, Emirates Financial Towers, DIFC, PO Box 506672, Dubai, UAE
          DFSA Firm Reference No. F000631
          Notice No. W797/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four eight months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four eight months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four eight months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 August 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W786/2020 ceases to have effect from the date of issue of this notice

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 9 August 2020

           

        • W796/2020 — GII Capital Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To GII Capital Ltd
          Address Unit 101, Level 1, Currency House Tower 2, DIFC, PO Box 507240, Dubai, UAE
          DFSA Firm Reference No. F004276
          Notice No. W796/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. GII Islamic REIT (CEIC) Plc (C000055)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four eight months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 August 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W784/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 9 August 2020

           

        • W795/2020 — Chubb Underwriting (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Chubb Underwriting (DIFC) Limited
          Address Units 3 and 4, 7th Floor, Currency House Dubai International Financial Centre PO Box 482028 Dubai, UAE
          DFSA Firm Reference No. F001287
          Notice No. W795/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), (c) and (d) must be resident in the U.A.E

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 5 August 2020

           

        • W794/2020 — YVC MEA LTD

          Click here to view PDF.

          MODIFICATION NOTICE

          To YVC MEA LTD
          Address Unit GA-00-SZ-L1-RT-208, Level 1, Gate Avenue – South Zone, Dubai International Financial Centre, P O Box 376414, Dubai, United Arab Emirates
          DFSA Firm Reference No. F005616
          Notice No. W794/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in Table 1 to this notice are waived in relation to YVC MEA LTD.

          The Rules specified in the left hand column of Table 2 to this notice do not apply to YVC MEA LTD in the form appearing in the Rulebook but instead apply as modified in the right hand column of that table.

          RULES WAIVED

          TABLE 1
          Module Rules
          GEN Section 5.2, Rules 5.3.4, 5.3.5, 5.3.6, 5.3.13, 5.3.14, 5.3.15, 5.3.16, 5.3.17, 5.3.30, 5.3.31, Sections 8.2, 8.3 and Rule 8.6.3.

          RULES MODIFIED

          TABLE 2
          Rule Modified Text
          GEN 7.4.2
          The Senior Executive Officer function is carried out by an individual who:
          (a) has, either alone or jointly with other Authorised Individuals, ultimate responsibility for:
          (i) the day-to-day management, supervision and control of one or more (or all) parts of an Authorised Firm’s Financial Services carried on in or from the DIFC; and
          (ii) carrying out the functions of the Compliance Officer including compliance matters in relation to the Authorised Firm’s Financial Services; and
          (b) is a Director, Partner or Senior Manager of the Authorised Firm.
          GEN 7.4.5
          The Finance Officer function is carried out by an individual who is a Director, Partner or Senior Manager of an Authorised Firm who has responsibility for:
          (i) the Authorised Firm’s compliance with the applicable Rules in PIN or PIB.; and
          (ii) carrying out the functions of the Money Laundering Reporting Officer including implementation of the Authorised Firm’s anti-money laundering policies, procedures, systems and controls and oversight of its compliance with the Rules in AML and any relevant anti money laundering legislation applicable in the DIFC;
          GEN 8.6.1
          An Authorised Person must, in writing, require its Auditor to:
          (a) conduct an audit of and produce a Financial Statement Auditor’s Report on the Authorised Person’s financial statements in accordance with the International Standards on Auditing;
          (b) produce a Regulatory Returns Auditor’s Report in accordance with the Rules in AUD App1 as relevant;
          (c) produce, if the Authorised Firm is permitted to control or hold Client Money, a Client Money Auditor’s Report in accordance with the Rules in AUD App2; and
          (d) produce, if the Authorised Firm is permitted to control or hold Insurance Monies, an Insurance Monies Auditor’s Report in accordance with the Rules in AUD App3; and
          (e) produce, if the Authorised Firm is permitted to hold or control Client Investments or Provide Custody in or from the DIFC, a Safe Custody Auditor’s Report in respect of such business as applicable, in accordance with the Rules in AUD App4.
          PIB 6.12.2
          Except for the first issuance, Aan Authorised Firm must:
          (a)take out and maintain professional indemnity insurance cover appropriate to the nature, size, complexity and risk profile of the Authorised Firm’s business;
          (b)at least annually, provide the DFSA with a copy of the professional indemnity insurance cover in (a) covering the following twelve month period; and
          (c)notify the DFSA of any material changes to the cover in (a), including the level of cover, its renewal or termination.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for a period of 12 months from this date.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms (other than any terms that are specifically defined above in lower case) are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 28 July 2020

           

        • W793/2020​​​​​​​ — FundedByMe MENA Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To FundedByMe MENA Limited
          Address Unit N411, Level 4, Emirates Financial Towers, DIFC, PO Box 506610, Dubai, UAE
          DFSA Firm Reference No. F004344
          Notice No. W793/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four eight months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 August 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W756/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 16 July 2020

           

        • W792/2020 — HPC S.A.

          Click here to view PDF.

          MODIFICATION NOTICE

          To HPC S.A.
          Address Unit OT 16-41, Central Park Offices, PO Box 507112, DIFC,
          Dubai, UAE
          DFSA Firm Reference No. F004907
          Notice No. W792/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four seven months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four seven months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 July 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 12 July 2020

           

        • W791/2020 — Takaful Re Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Takaful Re Limited
          Address Office 401a, Level 4, Burj Daman, DIFC, PO BOX 211181, Dubai, UAE
          DFSA Firm Reference No. F000067
          Notice No. W791/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four seven months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          PIN 6.5.5 The auditor’s report on the Annual Regulatory Return, and any actuarial report prepared as at the reporting date in accordance with section 7.2 or 7.3, must be submitted in writing by the Insurer with the DFSA within four seven months of the Insurer’s reporting date, where the reporting date occurs between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 July 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W764/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Mohamad El-Khalil
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 05 July 2020

           

        • W790/2020 — BanyanTree Asset Management Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To BanyanTree Asset Management Limited
          Address Unit S1201, Emirates Financial Towers, DIFC, PO Box 507041, Dubai, UAE
          DFSA Firm Reference No. F004911
          Notice No. W790/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four eight months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 August 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W772/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 05 July 2020

           

        • W789/2020 — Charles Monat Associates Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Charles Monat Associates Limited
          Address Unit GD-PB-05-06-OF-08, Level 6, Gate District Precinct Building 05, DIFC, P O Box 507269, Dubai, UAE
          DFSA Firm Reference No. F005417
          Notice No. W789/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four seven months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 July 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W771/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 05 July 2020

           

        • W788/2020 — Private Client Services by Mercer (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Private Client Services by Mercer (Dubai) Limited
          Address Unit 510, Level 5, Gate Precinct Building 3, DIFC, PO Box 507288, Dubai, UAE
          DFSA Firm Reference No. F002996
          Notice No. W788/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four seven months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 July 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W683/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 05 July 2020

           

        • W787/2020 — Alcazar Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alcazar Capital Limited
          Address Unit N2202 , N2203 , N2204 , Floor 22, Emirates Financial Towers, DIFC, PO Box 506672, Dubai, UAE
          DFSA Firm Reference No. F000631
          Notice No. W787/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. Alcazar Alpha Fund I (CEIC) Limited (C000068)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text 
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four seven months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 July 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W744/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 June 2020

           

        • W786/2020 — Alcazar Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alcazar Capital Limited
          Address Unit N2202 , N2203 , N2204 , Floor 22, Emirates Financial Towers, DIFC, PO Box 506672, Dubai, UAE
          DFSA Firm Reference No. F000631
          Notice No. W786/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four seven months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four seven months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four seven months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 July 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W729/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 June 2020

           

        • W785/2020 — Frere Hall Capital Management (Malta) Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To Frere Hall Capital Management (Malta) Ltd
          Address Unit 106, Level 1, Gate Village Building 05, DIFC, P.O. Box 507012, Dubai, UAE
          DFSA Firm Reference No. F003401
          Notice No. W785/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four seven months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 July 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W721/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 June 2020

           

        • W784/2020 — GII Capital Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To GII Capital Ltd
          Address Unit 101, Level 1, Currency House Tower 2, DIFC, PO Box 507240, Dubai, UAE
          DFSA Firm Reference No. F004276
          Notice No. W784/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. GII Islamic REIT (CEIC) Plc (C000055)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text 
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four seven months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 July 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W757/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 June 2020

           

        • W783/2020 — Decimal Factor Ltd Middle East (“DFME”)

          Click here to view PDF.

          MODIFICATION NOTICE

          To Decimal Factor Ltd Middle East (“DFME”)
          Address Fintech Hive LLC
          Unit 408/409, Gate District 5 Level 4, DIFC Dubai, United Arab Emirates 74777
          DFSA Firm Reference No. F004921
          Notice No. W783/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in Table 1 to this notice are waived in relation to Decimal Factor Ltd Middle East.

          The Rules specified in the left hand column of Table 2 to this notice do not apply to Decimal Factor Ltd Middle East in the form appearing in the Rulebook but instead apply as modified in the right hand column of that table.

          RULES WAIVED

          TABLE 1
          Module Rules
          GEN Section 5.2, Rules 5.3.4, 5.3.5, 5.3.6, 5.3.13, 5.3.14, 5.3.15, 5.3.16, 5.3.17, 5.3.30, 5.3.31, Section 8.

          RULES MODIFIED

          TABLE 2
          Rule Modified text
          GEN 7.4.2 The Senior Executive Officer function is carried out by an individual who:
          (a) has, either alone or jointly with other Authorised Individuals, ultimate responsibility for:
          (i) the day-to-day management, supervision and control of one or more (or all) parts of an Authorised Firm’s Financial Services carried on in or from the DIFC;
          (ii) the Authorised Firm’s compliance with the applicable Rules in PIN or PIB;
          (iii) compliance matters in relation to the Authorised Firm’s Financial Services; and
          (iv) carrying out the functions of the Money Laundering Reporting Officer including implementation of the Authorised Firm’s anti-money laundering policies, procedures, systems and controls and oversight of its compliance with the Rules in AML and any relevant anti money laundering legislation applicable in the DIFC; and
          (b) is a Director, Partner or Senior Manager of the Authorised Firm.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for a period of 12 months from this date.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 28 June 2020

           

        • W781/2020 — Africa Re Underwriting Agency Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Africa Re Underwriting Agency Limited
          Address Unit GD-GB-00-15-BC-63, Level 15, Gate District, Gate Building, DIFC, P O Box 506770, Dubai, UAE
          DFSA Firm Reference No. F005259
          Notice No. W781/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified to this notice are waived in relation to the above-mentioned person.

          RULES WAIVED

          Module Rule/s
          GEN GEN 7.5.2

          CONDITIONS

          The relief provided in this notice is applicable insofar as government restrictions on commercial travel from Egypt to the UAE due to the COVID-19 pandemic remain in place.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 December 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director
             
          DATE OF ISSUE: 24 June 2020

           

        • W780/2020 — UTI International (Singapore) Private Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To UTI International (Singapore) Private Limited
          Address Bharat Building #08-02, 3 Raffles Place, PO BOX 048617, Singapore
          DFSA Firm Reference No. F004210
          Notice No. W780/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. Al Tharwa Open Ended PCC Limited (C000045)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 24 June 2020

           

        • W778/2020 — Starr Underwriting Agents (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Starr Underwriting Agents (Dubai) Limited
          Address Level 4, Precinct Building 2, DIFC, PO Box 507061, Dubai, UAE
          DFSA Firm Reference No. F003221
          Notice No. W778/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 15/06/2020

           

        • W777/2020 — Gulf International Finance Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Gulf International Finance Limited
          Address Unit No S402, Level 7, Emirates Financial Towers, DIFC, PO Box 507050, Dubai, UAE
          DFSA Firm Reference No. F003201
          Notice No. W777/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 11.6.1
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 24 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 14 June 2020

           

        • W776/2020 — Beehive P2P Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Beehive P2P Limited
          Address Office N1204B, Level 12, Emirates Financial Towers, DIFC, PO Box 506943, Dubai, UAE
          DFSA Firm Reference No. F004422
          Notice No. W776/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W724/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 14 June 2020

           

        • W775/2020 — JB Drax Honoré (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To JB Drax Honoré (DIFC) Limited
          Address Unit 20-31, Level 20, Central Park Offices, DIFC, PO Box 507215, Dubai, UAE
          DFSA Firm Reference No. F005031
          Notice No. W775/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          PIB 10.4.2
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W659/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 14 June 2020

           

        • W774/2020 — The MECO Group DIFC Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To The MECO Group DIFC Ltd
          Address Unit 01, Level 1, Gate Village Building 3, DIFC, PO Box 337809, Dubai, UAE
          DFSA Firm Reference No. F005473
          Notice No. W774/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified to this notice are waived in relation to the above-mentioned person.

          RULES WAIVED

          Module Rule/s
          GEN GEN 7.5.2

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 August 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director
             
          DATE OF ISSUE: 9 June 2020

           

        • W773/2020 — Lazard Gulf Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Lazard Gulf Limited
          Address Level 2, Gate Village 1, DIFC, PO Box 506644, Dubai, UAE
          DFSA Firm Reference No. F000567
          Notice No. W773/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W740/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 7 June 2020

           

        • W772/2020 — BanyanTree Asset Management Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To BanyanTree Asset Management Limited
          Address Unit S1201, Emirates Financial Towers, DIFC, PO Box 507041, Dubai, UAE
          DFSA Firm Reference No. F004911
          Notice No. W772/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W716/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 7 June 2020

           

        • W771/2020 — Charles Monat Associates Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Charles Monat Associates Limited
          Address Unit GD-PB-05-06-OF-08, Level 6, Gate District Precinct Building 05, DIFC, P O Box 507269, Dubai, UAE
          DFSA Firm Reference No. F005417
          Notice No. W771/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W694/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 7 June 2020

           

        • W770/2020 — Tell Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Tell Limited
          Address Office 403, Level 4, Burj Daman, DIFC, PO Box 506983, Dubai, UAE
          DFSA Firm Reference No. F003077
          Notice No. W770/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W646/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 7 June 2020

           

        • W769/2020 — Tradition (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Tradition (Dubai) Limited
          Address Unit 3, Level 2, Currency House, DIFC, PO Box 506530, DIFC, Dubai, UAE
          DFSA Firm Reference No. F000039
          Notice No. W769/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four six months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          PIB 10.4.2
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W684/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 7 June 2020

           

        • W768/2020 — FEB Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To FEB Capital Limited
          Address Unit 302, Level 3, Gate Precinct Building 3, DIFC, PO Box 506781, Dubai, UAE.
          DFSA Firm Reference No. F003667
          Notice No. W768/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 11.6.1
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 24 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 3 June 2020

           

        • W767/2020 — Alcazar Energy Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alcazar Energy Limited
          Address Units S802 and 803, Emirates Financial Towers, DIFC, PO Box 506672, Dubai, UAE
          DFSA Firm Reference No. F003451
          Notice No. W767/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table to this notice do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          PIB 3.7.2(e)  An Authorised Firm must calculate its Expenditure Based Capital Minimum as:
          (e) in the case of an Authorised Firm in Category 4, (unless it holds Insurance Monies), 3 6/52;
          of the Annual Audited Expenditure, calculated in accordance with Rule 3.7.3.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 September 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 3 June 2020

        • W766/2020 — Dar Al Mar Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Dar Al Mal Limited
          Address Unit No 501, Gate Precint Building No 3, DIFC, PO Box 482083, Dubai, UAE
          DFSA Firm Reference No. F001417
          Notice No. W766/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four seven months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four seven months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four seven months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 July 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 3 June 2020

        • W765/2020 — Gateway Investment Management Services (DIFC) Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To Gateway Investment Management Services (DIFC) Ltd
          Address Level 5, Gate Village 6, DIFC, PO Box 506822, Dubai, UAE
          DFSA Firm Reference No. F001118
          Notice No. W765/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. Al Hadaf Open Ended PCC (C000035)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text 
          CIR 9.4.2(1) 
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four six months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W669/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 3 June 2020

        • W764/2020 — Takaful Re Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Takaful Re Limited
          Address Office 401a, Level 4, Burj Daman, DIFC, PO BOX 211181, Dubai, UAE
          DFSA Firm Reference No. F000067
          Notice No. W764/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          PIN 6.5.5 

          The auditor’s report on the Annual Regulatory Return, and any actuarial report prepared as at the reporting date in accordance with section 7.2 or 7.3, must be submitted in writing by the Insurer with the DFSA within four six months of the Insurer’s reporting date, where the reporting date occurs between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W654/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Mohamad El-Khalil
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 3 June 2020

        • W763/2020 — KHK & Partners Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To KHK & Partners Limited
          Address Unit S1802, Level 18, Emirates Financial Towers, DIFC, PO Box 507046, Dubai, UAE
          DFSA Firm Reference No. F003251
          Notice No. W763/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four six months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W676/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 3 June 2020

        • W762/2020 — Jadwa Investment (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Jadwa Investment (DIFC) Limited
          Address Office 101, Gate Village 7, DIFC, P.O. Box 121869, Dubai, UAE
          DFSA Firm Reference No. F004938
          Notice No. W762/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W692/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 3 June 2020

        • W761/2020 — Antarah Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Antarah Limited
          Address Office No. N301-303, Level 3, Emirates Financial Towers, DIFC, PO Box 23325, Dubai, UAE
          DFSA Firm Reference No. F001778
          Notice No. W761/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four six months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W657/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Mohamad El-Khalil
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 3 June 2020

        • W760/2020 — Quilter Cheviot Limited (DIFC Branch)

          Click here to view PDF.

          MODIFICATION NOTICE

          To Quilter Cheviot Limited (DIFC Branch)
          Address Unit 415, Level 4, Index Tower, DIFC, PO Box 482062, Dubai, UAE
          DFSA Firm Reference No. F005266
          Notice No. W760/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four six months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W689/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervison
             
          DATE OF ISSUE: 3 June 2020

        • W759/2020 — Hamilton Managing General Agency (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Hamilton Managing General Agency (Dubai) Limited
          Address Unit 301 & 401, Level 3 & 4, Gate Precinct Building 2, DIFC, PO Box 506762, Dubai, UAE
          DFSA Firm Reference No. F001291
          Notice No. W759/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four six months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W648/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Mohamad El-Khalil
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 3 June 2020

        • W758/2020 — Ellington Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Ellington Capital Limited
          Address 607, Gate District 5, DIFC, P O Box 507261, Dubai, UAE
          DFSA Firm Reference No. F005183
          Notice No. W758/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W715/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 3 June 2020

        • W757/2020 — GII Capital Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To GII Capital Ltd
          Address Unit 101, Level 1, Currency House Tower 2, DIFC, PO Box 507240, Dubai, UAE
          DFSA Firm Reference No. F004276
          Notice No. W757/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. GII Islamic REIT (CEIC) Plc (C000055)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text 
          CIR 9.4.2(1) 
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four six months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W714/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 3 June 2020

        • W756/2020 — FundedByMe MENA Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To FundedByMe MENA Limited
          Address Unit N411, Level 4, Emirates Financial Towers, DIFC, PO Box 506610, Dubai, UAE
          DFSA Firm Reference No. F004344
          Notice No. W756/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          PREVIOUS NOTICE CEASES TO HAVE EFFECT

          Notice No W675/2020 ceases to have effect from the date of issue of this notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 3 June 2020

        • W755/2020 — SIB Sukuk Company III Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To SIB Sukuk Company III Limited
          Address c/o Sharjah Islamic Bank
          PO Box 4, Sharjah, UAE
          DFSA Firm Reference No. F002917
          Notice No. W755/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered.

          Rule Modified Text 
          IFR 7.2.1 

          [deleted]

          For the purposes of this section and section 7.3, a reference to a Shari’a Supervisory Board is a reference to such a board, appointed by the Issuer of Islamic Securities, and which meets the following requirements:

          (a) it has from the date of issue of this notice until 31 July 2020 inclusive, at least two individuals as its members and, on and after 1 August 2020, at least three individuals as its members;
          (b) those members are competent to perform their functions as Shari’a Supervisory Board members;
          (c) any appointments, dismissals or changes in respect of the members of the Shari’a Supervisory Board are approved by the Governing Body of the Reporting Entity; and
          (d) no member of the Shari’a Supervisory Board is a director or Controller of the Reporting Entity.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Eric Salomons
             
          Position: Director, Head of Markets
             
          DATE OF ISSUE: 27 May 2020

        • W754/2020 — Deutsche Bank AG

          Click here to view PDF.

          MODIFICATION NOTICE

          To Deutsche Bank AG
          Address Building 5, Level 6, The Gate Village, PO Box 504902, DIFC, Dubai, UAE
          DFSA Firm Reference No. F000045
          Notice No. W754/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 11.6.1 
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 24 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force for 3 months.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 27 May 2020

        • W753/2020 — SEE Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To SEE Capital Limited
          Address Unit 207, Level 2, Gate Village Building 4, DIFC, PO Box 506734, Dubai, UAE
          DFSA Firm Reference No. F003986
          Notice No. W753/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four six months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          CIR 9.4.2(1) 
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four six months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) an interim report within two six months after the end of each interim accounting period, where that interim accounting period ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 21 May 2020

        • W752/2020 — ING Bank N.V.

          Click here to view PDF.

          MODIFICATION NOTICE

          To ING Bank N.V.
          Address Offices 1-4, Level 2, Gate Village 5, DIFC, PO Box 506641, Dubai, UAE
          DFSA Firm Reference No. F000362
          Notice No. W752/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 21 May 2020

        • W751/2020 — Attijariwafa Bank (Middle East) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Attijariwafa Bank (Middle East) Limited
          Address Office No 5, Level 3, Gate Village 5, DIFC, PO Box 119312, Dubai, UAE
          DFSA Firm Reference No. F001541
          Notice No. W751/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          PIB 10.4.2 
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 21 May 2020

        • W750/2020 — Tell Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Tell Limited
          Address Office 403, Level 4, Burj Daman, DIFC, PO Box 506983, Dubai, UAE
          DFSA Firm Reference No. F003077
          Notice No. W750/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table to this notice do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          PIB 3.7.2(e)  An Authorised Firm must calculate its Expenditure Based Capital Minimum as:
          ...
          (e) in the case of an Authorised Firm in Category 4, (unless it holds Insurance Monies), 3 6/52;
          of the Annual Audited Expenditure, calculated in accordance with Rule 3.7.3.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 December 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 21 May 2020

        • W749/2020 — Gulf International Finance Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To Gulf International Finance Limited
          Address Unit No S402, Level 7, Emirates Financial Towers, DIFC, PO Box 507050, Dubai, UAE
          DFSA Firm Reference No. F003201
          Notice No. W749/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table to this notice do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          Rule Modified Text 
          PIB 3.7.2(e)  An Authorised Firm must calculate its Expenditure Based Capital Minimum as:
          ...
          (e) in the case of an Authorised Firm in Category 4, (unless it holds Insurance Monies), 3 6/52;
          of the Annual Audited Expenditure, calculated in accordance with Rule 3.7.3.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 December 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 21 May 2020

        • W748/2020 — Dar Al Mal (Limited)

          Click here to view PDF.

          MODIFICATION NOTICE

          To Dar Al Mal Limited
          Address Unit No 501, Gate Precinct Building No 3, DIFC, PO Box 482083, Dubai, UAE
          DFSA Firm Reference No. F001417
          Notice No. W748/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 11.6.1 
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 24 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force for 3 months.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 13 May 2020

        • W747/2020 — FIMBank plc (DIFC) Branch)

          Click here to view PDF.

          MODIFICATION NOTICE

          To FIMBank plc (DIFC Branch)
          Address Unit N1904, Level 19, Emirates Financial Towers, DIFC, PO Box 506554, Dubai, UAE
          DFSA Firm Reference No. F000262
          Notice No. W747/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 11.6.1 
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 24 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force until further notice.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 13 May 2020

        • W746/2020 — Jadwa Investment (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Jadwa Investment (DIFC) Limited
          Address Office 101, Gate Village 7, DIFC, P.O. Box 121869, Dubai, UAE
          DFSA Firm Reference No. F004938
          Notice No. W746/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein, do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive .

          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 13 May 2020

        • W745/2020 — HSBC Bank Middle East Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To HSBC Bank Middle East Limited
          Address Level 1, Gate Village Building 8, DIFC, PO Box 30444, Dubai, UAE
          DFSA Firm Reference No. F003452
          Notice No. W745/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          PIB 10.4.2 
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 13 May 2020

        • W744/2020 — Alcazar Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alcazar Capital Limited
          Address Unit N2202 , N2203 , N2204 , Floor 22, Emirates Financial Towers, DIFC, PO Box 506672, Dubai, UAE
          DFSA Firm Reference No. F000631
          Notice No. W744/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. Alcazar Alpha Fund I (CEIC) Limited (C000068)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text 
          CIR 9.4.2(1) 
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four six months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 13 May 2020

        • W743/2020 — Ed Broking (MENA) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Ed Broking (MENA) Limited
          Address Office 307 & 308, Level 3, Tower 1, Al Fattan Currency House, DIFC, PO Box 506857, Dubai, UAE
          DFSA Firm Reference No. F002412
          Notice No. W743/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Arvind Baghel
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 13 April 2020

        • W742/2020 — Burgan Bank Financial Services Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Burgan Bank Financial Services Limited
          Address Office 801, Level 8, The Gate, West Wing, DIFC, PO Box 507177, Dubai, UAE
          DFSA Firm Reference No. F002043
          Notice No. W742/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 13 May 2020

        • W741/2020 — Creek Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Creek Capital Limited
          Address Unit 110, Level 1, Gate Village 4, DIFC, PO Box 552, Dubai, UAE
          DFSA Firm Reference No. F004395
          Notice No. W741/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 13 May 2020

        • W740/2020 — Lazard Gulf Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Lazard Gulf Limited
          Address Level 2, Gate Village 1, DIFC, PO Box 506644, Dubai, UAE
          DFSA Firm Reference No. F000567
          Notice No. W740/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 13 May 2020

        • W739/2020 — Safanad (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Safanad (Dubai) Limited
          Address Office 402a, Level 4, The Gate Building, East Wing, PO Box 506704, DIFC, Dubai, UAE.
          DFSA Firm Reference No. F002528
          Notice No. W739/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 11.6.1 
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 26 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 4 August 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director
             
          DATE OF ISSUE: 11 May 2020

        • W738/2020 — R.J. O'Brien (MENA) Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To R.J. O'Brien (MENA) Capital Limited
          Address Unit 11, Level 1, Currency House, Building 1, DIFC, PO Box 507280, Dubai, UAE
          DFSA Firm Reference No. F004288
          Notice No. W738/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 11.6.1 
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 36 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force for 3 months.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 11 May 2020

        • W737/2020 — BCS Capital (DIFC) Limited

          Click here to view PDF.

          WAIVER NOTICE

          To BCS Capital (DIFC) Limited
          Address Unit 411, Level 4, Index Tower, DIFC, PO Box 507341,
          Dubai, UAE.
          DFSA Firm Reference No. F004980
          Notice No. W737/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the table to this notice are waived in relation to the above-mentioned person.

          RULES WAIVED 

          TABLE
          Module Rule/s
          GEN GEN 7.5.2

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 September 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 11 May 2020

           

        • W736/2020 — Red Spear Capital (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Red Spear Capital (DIFC) Limited
          Address Unit N1702F, Level 17, Emirates Financial Towers, DIFC,
          PO Box 507085, Dubai, UAE 
          DFSA Firm Reference No. F005192
          Notice No. W736/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four seven months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four seven months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four seven months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 July 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 10 April 2020 

        • W735/2020 — Frontier Investment Management Partners Ltd.

          Click here to view PDF.

          MODIFICATION NOTICE

          To Frontier Investment Management Partners Ltd. 
          Address Unit 903, 9th Floor, Tower 1, Al Fattan Currency House, DIFC, PO Box 482011, Dubai, UAE 
          DFSA Firm Reference No. F000959
          Notice No. W735/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four five months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ....

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 10 April 2020

        • W734/2020 — Adenium Energy Capital Advisors Limited (Suspended)

          Click here to view PDF.

          MODIFICATION NOTICE

          To Adenium Energy Capital Advisors Limited (Suspended)
          Address Unit S604, Level 6, South Tower, Emirates Financial Towers, DIFC, PO Box 506773, Dubai, UAE 
          DFSA Firm Reference No. F001540
          Notice No. W734/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) .....

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 10 May 2020

           

        • W733/2020 — Entrust Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Entrust Capital Limited
          Address Unit 502, 503 and 504, Level 5, Gate Precinct Building 5, DIFC, PO Box 506886, Dubai, UAE 
          DFSA Firm Reference No. F004874
          Notice No. W733/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) .....

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 10 May 2020

           

        • W732/2020 — Safa Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Safa Capital Limited
          Address Office 608, Liberty House, DIFC, PO Box 126466, Dubai, UAE
          DFSA Firm Reference No. F004167
          Notice No. W732/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 10 May 2020 

           

        • W731/2020 — Mirabaud (Middle East) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Mirabaud (Middle East) Limited 
          Address 24th floor, North Tower, Emirates Financial Towers, DIFC, PO Box 506666, Dubai, UAE
          DFSA Firm Reference No. F000505
          Notice No. W731/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 10 May 2020 

           

        • W730/2020 — Fiducia Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Fiducia Capital Limited 
          Address Office 1631, Central Park Towers, DIFC, PO Box 507109, Dubai, UAE 
          DFSA Firm Reference No. F004535
          Notice No. W730/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 10 May 2020 

           

        • W729/2020 — Alcazar Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alcazar Capital Limited
          Address Unit N2202 , N2203 , N2204 , Floor 22, Emirates Financial Towers, DIFC, PO Box 506672, Dubai, UAE 
          DFSA Firm Reference No. F000631
          Notice No. W729/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four six months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          CIR 9.4.2(1) 
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four six months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ...

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 10 May 2020 

        • W728/2020 — NCB Capital (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To NCB Capital (DIFC) Limited
          Address Office 1904, Level 19, Index Tower, DIFC, PO Box 124620, Dubai, UAE 
          DFSA Firm Reference No. F000768
          Notice No. W728/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 10 May 2020 

           

        • W727/2020 — ACWA Power Reinsurance Co. Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To ACWA Power Reinsurance Co. Limited 
          Address Office 302, Level 3, Tower 1, Al Fattan Currency House, DIFC, PO Box 506770, Dubai, UAE 
          DFSA Firm Reference No. F001352
          Notice No. W727/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020 

           

        • W726/2020 — MSH INTERNATIONAL (DUBAI) LTD

          Click here to view PDF.

          MODIFICATION NOTICE

          To MSH INTERNATIONAL (DUBAI) LTD 
          Address Unit 503, Level 5, Liberty House, DIFC, PO BOX 506537, Dubai,UAE
          DFSA Firm Reference No. F000233
          Notice No. W726/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020 

           

        • W725/2020 — RFIB Group Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To RFIB Group Limited
          Address Office 8, Level 1, Gate Village 7, DIFC, PO Box 506670, Dubai, UAE
          DFSA Firm Reference No. F000162
          Notice No. W725/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four seven months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four seven months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) .....

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 July 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W724/2020 — Beehive P2P Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Beehive P2P Limited 
          Address Office N1204B, Level 12, Emirates Financial Towers, DIFC, PO Box 506943, Dubai, UAE 
          DFSA Firm Reference No. F004422
          Notice No. W724/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020 

        • W723/2020 — CBRE Global Investors Middle East Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To CBRE Global Investors Middle East Limited 
          Address Office No 20, Level 3, Gate Village 4, DIFC, PO Box 113355, Dubai, UAE 
          DFSA Firm Reference No. F001190
          Notice No. W723/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) .....

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W722/2020 — Azimut (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Azimut (DIFC) Limited 
          Address Unit 16-45, Level 16, Central Park, DIFC, PO Box 506944, Dubai, UAE 
          DFSA Firm Reference No. F002166
          Notice No. W722/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four five months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ...

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

        • W721/2020 — Frere Hall Capital Management (Malta) Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To Frere Hall Capital Management (Malta) Ltd
          Address Unit 106, Level 1, Gate Village Building 05, DIFC, P.O. Box 507012, Dubai, UAE
          DFSA Firm Reference No. F003401
          Notice No. W721/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four six months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W720/2020 — Altica Partners (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Altica Partners (DIFC) Limited
          Address Office 06-10, Level 1, Gate Village Building 4, DIFC, PO Box 507209, Dubai, UAE
          DFSA Firm Reference No. F004953
          Notice No. W720/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W719/2020 — BearBull Global Investments Group Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To BearBull Global Investments Group Limited
          Address 107, GV03, DIFC, PO Box 127676, Dubai, UAE
          DFSA Firm Reference No. F003940
          Notice No. W719/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W718/2020 — Aramis Partners Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Aramis Partners Limited
          Address Unit 804, Level 8, Gate Building, DIFC, PO Box 393931, Dubai, UAE
          DFSA Firm Reference No. F003343
          Notice No. W718/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four five months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ...

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W717/2020 — Mizuho Gulf Capital Partners Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To Mizuho Gulf Capital Partners Ltd
          Address Level 5, The Gate Building, East Wing, DIFC, PO Box 506927, Dubai, UAE
          DFSA Firm Reference No. F003116
          Notice No. W717/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W716/2020 — BanyanTree Asset Management Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To BanyanTree Asset Management Limited
          Address Unit S1201, Emirates Financial Towers, DIFC, PO Box 507041, Dubai, UAE
          DFSA Firm Reference No. F004911
          Notice No. W716/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W715/2020 — Ellington Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Ellington Capital Limited
          Address 607, Gate District 5, DIFC, P O Box 507261, Dubai, UAE
          DFSA Firm Reference No. F005183
          Notice No. W715/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W714/2020 — GII Capital Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To GII Capital Ltd
          Address Unit 101, Level 1, Currency House Tower 2, DIFC, PO Box 507240, Dubai, UAE
          DFSA Firm Reference No. F004276
          Notice No. W714/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. GII Islamic REIT (CEIC) Plc (C000055)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four five months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W713/2020 — Strategic Investment Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Strategic Investment Capital Limited
          Address Unit 301A, Level 3, Park Towers, DIFC, Dubai, PO Box 507318, UAE
          DFSA Firm Reference No. F003495
          Notice No. W713/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          PIB 10.4.2
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W712/2020 — Neuberger Berman Europe Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Neuberger Berman Europe Limited
          Address Unit 18, Level 1, Gate Village Building 3, DIFC, PO Box 121208, Dubai, UAE
          DFSA Firm Reference No. F003478
          Notice No. W712/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
           

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W711/2020 — R.J. Fleming & Co. (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To R.J. Fleming & Co. (DIFC) Limited
          Address 1103, Index Tower, DIFC, PO Box 507137, Dubai,
          DFSA Firm Reference No. F003434
          Notice No. W711/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W710/2020 — Probus Middle East Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Probus Middle East Limited
          Address Office 1101, South Tower, Emirates Financial Towers, PO Box 9519, Dubai, UAE
          DFSA Firm Reference No. F001693
          Notice No. W710/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W709/2020 — Taurus Wealth Advisors Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Taurus Wealth Advisors Limited
          Address Unit OT 18-41, Level 18, Central Park Offices, DIFC, PO Box 507128, Dubai, UAE
          DFSA Firm Reference No. F003214
          Notice No. W709/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W708/2020 — Global Gate Capital Partners (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Global Gate Capital Partners (DIFC) Limited
          Address Unit OT 18-36, Level 18, Central Park Offices, DIFC, PO Box 507188, Dubai, UAE
          DFSA Firm Reference No. F004712
          Notice No. W708/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 5 May 2020

           

        • W707/2020 — Vontobel Financial Products Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To Vontobel Financial Products Ltd
          Address Unit 913 &914, Level 9, Liberty House, DIFC, PO Box 506814, Dubai, UAE
          DFSA Firm Reference No. F004961
          Notice No. W707/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in Table 1 to this notice are waived in relation to the abovementioned person.

          The Rules specified in the left-hand column of Table 2 do not apply to the abovementioned Person in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table.

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of Table 2 below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text
          GEN 11.6.1
          (1) An Authorised Firm may, subject to (2), appoint an individual, who is not an Authorised Individual, to carry out the functions of an Authorised Individual where the following conditions are met:
          (a) the absence of the Authorised Individual is temporary or reasonably unforeseen;
          (b) the functions are carried out for 12 24 weeks maximum in any consecutive 12 months; and
          (c) the Authorised Firm has assessed that the individual has the relevant skills and experience to carry out these functions.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect as at 5 May 2020 and remains in force until 28 July 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 4 May 2020

           

        • W706/2020 — Quilter International Middle East Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Quilter International Middle East Limited
          Address Office 7 & 8, Level 2, Gate Village 07, The Gate District, DIFC, PO Box 482062, Dubai, UAE
          DFSA Firm Reference No. F001255
          Notice No. W706/2020

          THE DFSA HEREBY GIVES NOTICE THAT:

          1. The Rules specified in Table A herein do not apply to the above mentioned Person.

          AND

          2. The Rules specified in the left hand column of Table B herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          AML Chapter 11 Rule 11.2.1(2)

          RULES MODIFIED

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          TABLE B
          Rule Modified Text
          GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(1)(a), and (c) and (d) must be resident in the U.A.E.

          CONDITIONS

          None.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue and remains in force for 12 months thereafter or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 4 May 2020

           

        • W705/2020 — ArgoGlobal Underwriting (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To ArgoGlobal Underwriting (Dubai) Limited 
          Address Office 401, Level 3&4, Precinct Building 2, DIFC, PO Box 482067, Dubai, UAE 
          DFSA Firm Reference No. F001366
          Notice No. W705/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W704/2020 — Shields Reinsurance Brokers Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Shields Reinsurance Brokers Limited 
          Address Unit 811A, Level 8, Liberty House, DIFC, PO Box 507203, Dubai, UAE
          DFSA Firm Reference No. F004131
          Notice No. W704/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W703/2020 — Audacia Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Audacia Capital Limited 
          Address Unit C108,Level 1, Burj Daman, Dubai International Financial Centre, Dubai, PO box 506970, United Arab Emirates 
          DFSA Firm Reference No. F002709
          Notice No. W703/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W702/2020 — Century Private Wealth Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Century Private Wealth Limited
          Address Unit S2105, Level 21, Emirates Financial Towers, DIFC, PO Box 507185, Dubai, UAE 
          DFSA Firm Reference No. F005207
          Notice No. W702/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.​​​​​​​
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W701/2020 — Emaar Capital (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Emaar Capital (DIFC) Limited 
          Address Level 3, Gate Village Building 4, DIFC, PO Box 506677, Dubai, UAE 
          DFSA Firm Reference No. F005670
          Notice No. W701/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W700/2020 — GFH Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To GFH Capital Limited 
          Address Suite 1 & 2, Level 4, Precinct Building 3, The Gate District, DIFC, PO Box 506544, Dubai, UAE
          DFSA Firm Reference No. F000064
          Notice No. W700/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W699/2020 — Quilvest (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Quilvest (Dubai) Limited 
          Address Office 5, Level 1, Gate Village 4, DIFC, PO Box 506724, Dubai, UAE 
          DFSA Firm Reference No. F000780
          Notice No. W699/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W698/2020 — Permaneo Capital Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To Permaneo Capital Ltd 
          Address Unit N804B, Level 8, North Tower, Emirates Financial Tower, DIFC, PO Box 58553, Dubai, UAE
          DFSA Firm Reference No. F005515
          Notice No. W698/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W697/2020 — Tabarak Investment Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Tabarak Investment Capital Limited  
          Address Level 2, Office C208, Burj Daman, DIFC, PO Box 506824, Dubai, UAE 
          DFSA Firm Reference No. F001127
          Notice No. W697/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W696/2020 — Swissquote MEA Ltd.

          Click here to view PDF.

          MODIFICATION NOTICE

          To Swissquote MEA Ltd. 
          Address Office No 3, Level 9, Currency House Building, Tower 2, DIFC, PO Box 125115, Dubai, UAE 
          DFSA Firm Reference No. F001438
          Notice No. W696/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W695/2020 — TP ICAP (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To TP ICAP (Dubai) Limited 
          Address Office 7 & 8, Level 1, Gate Village Building 1, DIFC, PO Box 506627, Dubai, UAE  
          DFSA Firm Reference No. F001884
          Notice No. W695/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          PIB 10.3.2  
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          PIB 10.4.2  
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W694/2020 — Charles Monat Associates Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Charles Monat Associates Limited 
          Address Unit GD-PB-05-06-OF-08, Level 6, Gate District Precinct Building 05, DIFC, P O Box 507269, Dubai, UAE 
          DFSA Firm Reference No. F005417
          Notice No. W694/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W693/2020 — ASAS Capital Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To ASAS Capital Ltd  
          Address Office 702, Level 7, South Tower, Emirates Financial Towers, DIFC, PO Box 506806, Dubai, UAE  
          DFSA Firm Reference No. F001039
          Notice No. W693/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          PIB 10.3.2  
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W692/2020 — Jadwa Investment (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Jadwa Investment (DIFC) Limited 
          Address Office 101, Gate Village 7, DIFC, P.O. Box 121869,
          Dubai, UAE 
          DFSA Firm Reference No. F004938
          Notice No. W692/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W691/2020 — Safanad (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Safanad (Dubai) Limited  
          Address Office 402a, Level 4, The Gate Building, East Wing, PO Box 506704, DIFC, Dubai, UAE.  
          DFSA Firm Reference No. F002528
          Notice No. W691/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          PIB 10.3.2  
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W690/2020 — Trading Point MENA Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Trading Point MENA Limited 
          Address Unit S1901, Level 19, South Tower, Emirates Financial Towers, DIFC, PO Box 507013, Dubai, UAE 
          DFSA Firm Reference No. F003484
          Notice No. W690/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four six months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          PIB 10.4.2 
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W689/2020 — Quilter Cheviot Limited (DIFC Branch)

          Click here to view PDF.

          MODIFICATION NOTICE

          To Quilter Cheviot Limited (DIFC Branch) 
          Address Unit 415, Level 4, Index Tower, DIFC, PO Box 482062, Dubai, UAE 
          DFSA Firm Reference No. F005266
          Notice No. W689/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12  
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) .....

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W688/2020 — Alpen Capital (ME) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Alpen Capital (ME) Limited 
          Address Level 4, Gate Precinct Building 5, DIFC, PO Box 121806, Dubai, UAE 
          DFSA Firm Reference No. F000219
          Notice No. W688/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W687/2020 — Affirma Capital MENA Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To Affirma Capital MENA Ltd 
          Address DIFC, PO Box 506622, Dubai, UAE  
          DFSA Firm Reference No. F005267
          Notice No. W687/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

           

          Rule Modified Text 
          GEN 8.6.2   An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W686/2020 — Gulf International Finance Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Gulf International Finance Limited 
          Address Unit No S402, Level 7, Emirates Financial Towers, DIFC, PO Box 507050, Dubai, UAE 
          DFSA Firm Reference No. F003201
          Notice No. W686/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.​​​​​​​
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W685/2020 — Five Capital Advisors (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Five Capital Advisors (DIFC) Limited 
          Address Unit OT 14-48, Level 14, Central Park Offices, DIFC, PO Box 482092, Dubai, UAE 
          DFSA Firm Reference No. F003622
          Notice No. W685/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W684/2020 — Tradition (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Tradition (Dubai) Limited 
          Address Unit 3, Level 2, Currency House, DIFC, PO Box 506530, DIFC, Dubai, UAE 
          DFSA Firm Reference No. F000039
          Notice No. W684/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          PIB 10.4.2 
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W683/2020 — Private Client Services by Mercer (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Private Client Services by Mercer (Dubai) Limited 
          Address Unit 510, Level 5, Gate Precinct Building 3, DIFC, PO Box 507288, Dubai, UAE 
          DFSA Firm Reference No. F002996
          Notice No. W683/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four six months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W682/2020 — Mubasher Financial Services (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Mubasher Financial Services (DIFC) Limited 
          Address Office 303, Level 3, Liberty House, DIFC, PO Box 507133, Dubai, UAE 
          DFSA Firm Reference No. F003661
          Notice No. W682/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W681/2020 — MENA Re Underwriters Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To MENA Re Underwriters Limited 
          Address Unit 210-212, Level 2, Gate Village 8, DIFC, PO Box 507056, Dubai, UAE 
          DFSA Firm Reference No. F003051
          Notice No. W681/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W680/2020 — Arch Underwriters (Gulf) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Arch Underwriters (Gulf) Limited 
          Address Unit 304, Level 3, Park Towers, DIFC, PO Box 507178, Dubai, UAE 
          DFSA Firm Reference No. F003767
          Notice No. W680/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W679/2020 — Gulf Reinsurance Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Gulf Reinsurance Limited 
          Address Unit 304, Level 3, Park Towers, DIFC, PO Box 507178, Dubai, UAE 
          DFSA Firm Reference No. F000814
          Notice No. W679/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIN 6.5.5 

          The auditor’s report on the Annual Regulatory Return, and any actuarial report prepared as at the reporting date in accordance with section 7.2 or 7.3, must be submitted in writing by the Insurer with the DFSA within four five months of the Insurer’s reporting date, where the reporting date occurs between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W678/2020 — Risk Exchange (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Risk Exchange (DIFC) Limited 
          Address Office 602, 6th Floor, Liberty House, PO Box 507348, Dubai, UAE 
          DFSA Firm Reference No. F002239
          Notice No. W678/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.​​​​​​​
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W677/2020 — Columbia Threadneedle Investments (ME) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Columbia Threadneedle Investments (ME) Limited 
          Address Level 2, Gate Village 5, DIFC, PO Box 482005, Dubai, UAE 
          DFSA Firm Reference No. F003433
          Notice No. W677/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W676/2020 — KHK & Partners Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To KHK & Partners Limited 
          Address Unit S1802, Level 18, Emirates Financial Towers, DIFC, PO Box 507046, Dubai, UAE 
          DFSA Firm Reference No. F003251
          Notice No. W676/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W675/2020 — FundedByMe MENA Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To FundedByMe MENA Limited 
          Address Unit N411, Level 4, Emirates Financial Towers, DIFC, PO Box 506610, Dubai, UAE 
          DFSA Firm Reference No. F004344
          Notice No. W675/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Naweed Lalani
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W674/2020 — Zenith Bank (UK) Limited - (DIFC Branch)

          Click here to view PDF.

          MODIFICATION NOTICE

          To Zenith Bank (UK) Limited - (DIFC Branch) 
          Address Office 1301C, North Tower, Emirates Financial Towers, DIFC, PO Box 507015, Dubai, UAE 
          DFSA Firm Reference No. F002652
          Notice No. W674/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four five months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) an interim report within two five months after the end of each interim accounting period, where that interim accounting period ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W673/2020 — KAMCO Investment Company (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To KAMCO Investment Company (DIFC) Limited 
          Address Office 205 , Level 2, Gate Village Building 1, DIFC, PO Box 507205, Dubai, UAE 
          DFSA Firm Reference No. F002963
          Notice No. W673/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four six months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

           

        • W672/2020 — Amalabh Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Amalabh Capital Limited 
          Address Unit P7A-13B, Level P7, Park Towers, DIFC, PO Box 116103, Dubai, UAE 
          DFSA Firm Reference No. F003854
          Notice No. W672/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

          RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..
          PIB 10.3.2
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W671/2020 — Investbridge Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Investbridge Capital Limited 
          Address Office No 6, Level 6, Gate Village Building 6, DIFC, PO Box 482051, Dubai, UAE 
          DFSA Firm Reference No. F001473
          Notice No. W671/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) .....
          PIB 10.4.2 
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W670/2020 — HC Middle East Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To HC Middle East Limited 
          Address Level 3, Gate Village 6, Dubai International Financial Centre, PO Box 506673, Dubai, UAE 
          DFSA Firm Reference No. F000667
          Notice No. W670/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) .....

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 30 April 2020 

        • W669/2020 — Gateway Investment Management Services (DIFC) Ltd.

          Click here to view PDF.

          MODIFICATION NOTICE

          To Gateway Investment Management Services (DIFC) Ltd. 
          Address Level 5, Gate Village 6, DIFC, PO Box 506822, Dubai, UAE  
          DFSA Firm Reference No. F001118
          Notice No. W669/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Fund it manages:

          1. Al Hadaf Open Ended PCC (C000035).

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text 
          CIR 9.4.2(1) 
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four five months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020 

           

        • W668/2020 — Gateway Investment Management Services (DIFC) Ltd.

          Click here to view PDF.

          MODIFICATION NOTICE

          To Gateway Investment Management Services (DIFC) Ltd. 
          Address Level 5, Gate Village 6, DIFC, PO Box 506822, Dubai, UAE 
          DFSA Firm Reference No. F001118
          Notice No. W668/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left-hand column of the table herein do not apply in the form appearing in the Rulebook but instead apply as modified in the right-hand column of the table to the abovementioned Person in respect of the following Funds it manages:

          1. Guidance ATEL GCC Leasing Income Financing Fund (OEIC) (C000020); and
          2. Guidance ATEL GCC Leasing Fund (OEIC) Ltd (C000021).

          RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table.

          Rule Modified Text 
          CIR 9.4.2(1)
          (1) A Fund Manager must produce the required annual report and interim report as follows:
          (a) an annual report within four six months after the end of each annual accounting period, where that annual accounting period ends between 31 December 2019 and 31 March 2020 inclusive; and
          (b) ..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020

        • W667/2020 — Woori Bank

          Click here to view PDF.

          MODIFICATION NOTICE

          To Woori Bank  
          Address Level 11, Unit 1102A, The Gate Building, East Wing, DIFC, PO Box 506760, Dubai, UAE  
          DFSA Firm Reference No. F000913
          Notice No. W667/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Arvind Baghel
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020 

           

        • W666/2020 — Guy Carpenter (Middle East) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Guy Carpenter (Middle East) Limited 
          Address Unit 02, Level 3, Currency House Building 1, DIFC, PO Box 506572, Dubai, UAE 
          DFSA Firm Reference No. F001789
          Notice No. W666/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Arvind Baghel
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020 

        • W665/2020 — Mercer Financial Services Middle East Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Mercer Financial Services Middle East Limited 
          Address Office 01B, Level 5, Gate Precinct Building 2, DIFC, PO Box 215306, Dubai, UAE  
          DFSA Firm Reference No. F001250
          Notice No. W665/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) .....

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Arvind Baghel
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020 

           

        • W664/2020 — Marsh Management Services (MENA) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Marsh Management Services (MENA) Limited 
          Address Office 302, Level 3, Tower 1, Al Fattan Currency House, DIFC, P.O. Box 506770, Dubai, UAE 
          DFSA Firm Reference No. F000844
          Notice No. W664/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) …..

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Arvind Baghel
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020 

        • W663/2020 — Aon Benfield Middle East Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Aon Benfield Middle East Limited  
          Address Office No 2,3 and 4, Level 5, Al Fattan Currency House, DIFC, PO Box 506746, Dubai, UAE  
          DFSA Firm Reference No. F001995
          Notice No. W663/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Arvind Baghel
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020 

           

        • W662/2020 — GMG (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To GMG (Dubai) Limited 
          Address Office 1, 1st Floor, Currency House, PO Box 506821, Dubai, UAE 
          DFSA Firm Reference No. F001134
          Notice No. W662/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          PIB 10.4.2 
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020

        • W661/2020 — Lighthouse Canton Capital (DIFC) Pte Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Lighthouse Canton Capital (DIFC) Pte Limited  
          Address Unit 204, Level 2, Gate Village 11, DIFC, PO Box 507026, Dubai, UAE  
          DFSA Firm Reference No. F004068
          Notice No. W661/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) .....
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) .....

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020 

           

        • W660/2020 — Bemo Investment Firm LTD

          Click here to view PDF.

          MODIFICATION NOTICE

          To Bemo Investment Firm LTD 
          Address Unit 109, Level 1, Gate Village 1, PO Box 506671, Dubai, UAE 
          DFSA Firm Reference No. F000624
          Notice No. W660/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020

        • W659/2020 — JB Drax Honoré (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To JB Drax Honoré (DIFC) Limited  
          Address Unit 20-31, Level 20, Central Park Offices, DIFC, PO Box 507215, Dubai, UAE  
          DFSA Firm Reference No. F005031
          Notice No. W659/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) .....
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) .....
          PIB 10.4.2 
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020 

           

        • W658/2020 — NCB Capital (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To NCB Capital (DIFC) Limited 
          Address Office 1904, Level 19, Index Tower, DIFC, PO Box 124620, Dubai, UAE 
          DFSA Firm Reference No. F000768
          Notice No. W658/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          PIB 10.4.2 
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four five months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.​​​​​​​
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Christian Cameron
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 28 April 2020

        • W657/2020 — Antarah Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Antarah Limited 
          Address Office No. N301-303, Level 3, Emirates Financial Towers, DIFC, PO Box 23325, Dubai, UAE 
          DFSA Firm Reference No. F001778
          Notice No. W657/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          GEN 11.8.12 
          (1) An Authorised Firm must submit to the DFSA an annual report on its Controllers within four five months of its financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (2) .....

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Arvind Baghel
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 27 April 2020 

           

        • W656/2020 — Credit Europe Bank (Dubai) Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To Credit Europe Bank (Dubai) Ltd 
          Address Unit S1404, Level 14, Emirates Financial Towers, DIFC, PO Box 506719, Dubai, UAE 
          DFSA Firm Reference No. F000843
          Notice No. W656/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          PIB 10.3.2 
          (1) An Authorised Firm must establish and maintain an IRAP which details the processes and procedures by which the firm will identify, assess, aggregate and monitor the risks faced by it.
          (2) The firm must conduct the IRAP assessment at least annually giving due regard to the Guidance in section A10.1 of App10.
          (3) The IRAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) …..
          PIB 10.4.2 
          (1) An Authorised Firm must implement and maintain an ICAAP which details the processes and procedures by which the firm will assess and maintain adequate Capital Resources in relation to the risks faced by it.
          (2) The firm must conduct an ICAAP assessment at least annually giving due regard to the Guidance in section A10.2 of App10.
          (3) The ICAAP assessment conducted by the firm pursuant to (2) must be approved by its Governing Body and then submitted to the DFSA within four six months from the end of the firm’s financial year, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          (4) In addition to (2), the firm must conduct an ICAAP assessment:
          (a) whenever there is material change to the business, strategy, nature or scale of the activities of the firm which may have a significant impact on its risk profile or adequacy of its Capital Resources or Adjusted Capital Resources, as applicable; or
          (b) as and when required by the DFSA.
          (5) The ICAAP assessment conducted by the firm pursuant to (4) must be approved by its Governing Body and then submitted to the DFSA within two months from the date of such material change or requirement.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 30 June 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Arvind Baghel
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 27 April 2020

        • W655/2020 — TransRe Europe S.A.

          Click here to view PDF.

          MODIFICATION NOTICE

          To TransRe Europe S.A. 
          Address Unit 106, Level 1, Gate Village Building 04, DIFC, PO Box 507218, Dubai, UAE 
          DFSA Firm Reference No. F002629
          Notice No. W655/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2 

          An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive

          PIN 6.5.5 

          The auditor’s report on the Annual Regulatory Return, and any actuarial report prepared as at the reporting date in accordance with section 7.2 or 7.3, must be submitted in writing by the Insurer with the DFSA within four five months of the Insurer’s reporting date, where the reporting date occurs between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

          Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO).  Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

          THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

          Name: Arvind Baghel
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 27 April 2020 

           

        • W654/2020 — Takaful Re Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Takaful Re Limited 
          Address Office 401a, Level 4, Burj Daman, DIFC, PO BOX 211181, Dubai, UAE 
          DFSA Firm Reference No. F000067
          Notice No. W654/2020

          THE DFSA HEREBY GIVES NOTICE THAT: 

          The Rules specified in the left hand column of the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply as modified in the right hand column of the table.

           RULES MODIFIED 

          The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.

          Rule Modified Text 
          GEN 8.6.2  An Authorised Person must submit any reports produced by its Auditor that are required by this chapter to the DFSA within four five months of the Authorised Person’s financial year end, where that financial year ends between 31 December 2019 and 31 March 2020 inclusive.
          PIN 6.5.5  The auditor’s report on the Annual Regulatory Return, and any actuarial report prepared as at the reporting date in accordance with section 7.2 or 7.3, must be submitted in writing by the Insurer with the DFSA within four five months of the Insurer’s reporting date, where the reporting date occurs between 31 December 2019 and 31 March 2020 inclusive.

          CONDITIONS

          None

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force until 31 May 2020 or until further notice, whichever is the earlier.

          INTERPRETATION

          The provisions in this n