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).

      • 2020

        • W777/2020 — Gulf International Finance Limited

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          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

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          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

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          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

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          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

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          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

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          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

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          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

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          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

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          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

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          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

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          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 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

        • W653/2020 — Besso Re (Middle East) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Besso Re (Middle East) Limited 
          Address Unit Office GV04/L02/211, Level 2, Gate Village Building 04, DIFC, PO Box 507220, Dubai, UAE 
          DFSA Firm Reference No. F003873
          Notice No. W653/2020

          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 

           

        • W652/2020 — Arqaam Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Arqaam Capital Limited 
          Address Level 27, Index Tower, DIFC, PO Box 506687, Dubai, UAE 
          DFSA Firm Reference No. F000407
          Notice No. W652/2020

          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: 27 April 2020

        • W651/2020 — 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. W651/2020

          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: 27 April 2020 

           

        • W650/2020 — Elyseum Capital Partners Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Elyseum Capital Partners Limited 
          Address Office 1304, Level 13, Emirates Financial Towers, North Tower, DIFC, PO Box 506971, Dubai, UAE 
          DFSA Firm Reference No. F002808
          Notice No. W650/2020

          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: 27 April 2020 

        • W649/2020 — Bank J. Safra Sarasin Asset Management (Middle East) Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To Bank J. Safra Sarasin Asset Management (Middle East) Ltd 
          Address Unit C, 1202 A, Level 12, Burj Daman, DIFC, PO Box 506774, Dubai, UAE 
          DFSA Firm Reference No. F002221
          Notice No. W649/2020

          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: 27 April 2020 

           

        • W648/2020 — 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. W648/2020

          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: 23 April 2020 

        • W647/2020 — Munich Re Syndicate Middle East Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Munich Re Syndicate Middle East Limited 
          Address Office 301 & 401, Gate Precinct Building 2, DIFC, PO Box 506518, Dubai, UAE 
          DFSA Firm Reference No. F000159
          Notice No. W647/2020

          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: 23 April 2020 

           

        • W646/2020 — 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. W646/2020

          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: 23 April 2020 

        • W645/2020 — Ark Capital Management (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Ark Capital Management (Dubai) Limited 
          Address Office No S2402, Level 24, Emirates Financial Towers, PO Box 211036, Dubai, UAE 
          DFSA Firm Reference No. F002214
          Notice No. W645/2020

          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: 23 April 2020 

           

        • W644/2020 — Willis Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Willis Limited 
          Address Unit 9 &10, Level 2, Gate Village Building 4, DIFC, PO Box 507018, Dubai, UAE 
          DFSA Firm Reference No. F002983
          Notice No. W644/2020

          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: Arvind Baghel
             
          Position: Director, Supervision
             
          DATE OF ISSUE: 23 April 2020

        • W643/2020 — Faber Capital (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Faber Capital (DIFC) Limited 
          Address Office 104, Gate Village Building 7, DIFC, PO Box 507000, Dubai, UAE 
          DFSA Firm Reference No. F003013
          Notice No. W643/2020

          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: 23 April 2020 

           

        • W642/2020 — MUFG Bank Ltd

          Click here to view PDF.

          MODIFICATION NOTICE

          To MUFG Bank, Ltd. 
          Address Office No 301, East Wing, The Gate, Level 3, DIFC PO Box 506614, Dubai, UAE 
          DFSA Firm Reference No. F000470
          Notice No. W642/2020

          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.

          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: 21 April 2020 

        • W641/2020 — Royal & Sun Alliance Insurance plc

          Click here to view PDF.

          MODIFICATION NOTICE

          To Royal & Sun Alliance Insurance plc 
          Address Office No 11 & 12, Level 1, Gate Village 4, DIFC, PO Box 28648, Dubai, UAE 
          DFSA Firm Reference No. F001547
          Notice No. W641/2020

          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: 21 April 2020 

           

        • W640/2020 — FFA Private Bank (Dubai) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To FFA Private Bank (Dubai) Limited 
          Address Office 410, Level 4, Precinct Building 5, DIFC, PO Box 506567, Dubai, UAE 
          DFSA Firm Reference No. F000240
          Notice No. W640/2020

          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 April 2020 

        • W639/2020 — iSCF Capital Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To iSCF Capital Limited 
          Address Office No 1303, Level 13, Emirates Financial Towers, South Wing, DIFC, PO Box 506887, Dubai, UAE 
          DFSA Firm Reference No. F002656
          Notice No. W639/2020

          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 April 2020 

           

        • W638/2020 — Nasco Reinsurance Brokers (DIFC) Limited

          Click here to view PDF.

          MODIFICATION NOTICE

          To Nasco Reinsurance Brokers (DIFC) Limited
          Address Office 207, Level 2, Tower 2, Currency House, DIFC, PO Box 506585, Dubai, UAE
          DFSA Firm Reference No. F003523
          Notice No. W638/2020

          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: 21 April 2020

        • W637/2020 — 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. W637/2020

          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 April 2020 

           

        • W636/2020 — A.P. Moller Capital P.S (DIFC Branch)

          Click here to view PDF.

          MODIFICATION NOTICE

          To A.P. Moller Capital P/S (DIFC Branch) 
          Address Unit 1503, Level 15, Currency House - Tower 2, DIFC, PO Box 507271, Dubai, UAE 
          DFSA Firm Reference No. F004181
          Notice No. W636/2020

          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 
          GEN 8.2.2 
          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 Kingdom of Denmark (Danish GAAP). 
           
          (2) In this Rule, Danish GAAP means the accounting and valuation standards and principles set out in the guidelines of the Danish Accounting Standards Committee established by the Institute of Public Accountants in Denmark.

          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: 20 April 2020 

           

        • W635/2020 — Exotix Partners LLP (Dubai)

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Exotix Partners LLP (Dubai)
          Address Unit 215, Level 2, Gate Village Building 5, DIFC, PO Box 482099, Dubai, UAE
          DFSA Firm Reference No. F002410 
          Notice No. W635/2020

          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: Justin Baldacchino
             
          Position: Managing Director, Supervision
             
          DATE OF ISSUE: 29 March 2020

           

        • W634/2020 — Mitsubishi UFJ Asset Management (UK) Ltd.

          Click here to view PDF.

          MODIFICATION NOTICE

          To Mitsubishi UFJ Asset Management (UK) Ltd. 
          Address Level 3, East Wing, The Gate, PO Box 507063, DIFC, Dubai, UAE 
          DFSA Firm Reference No. F005735
          Notice No. W634/2020

           

          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: 19 March 2020 

           

        • W633/2020 — Markel International (Dubai) Limited

          Click here to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Markel International (Dubai) Limited
          Address Precinct Building 2, Level 3, DIFC, PO Box 506914, Dubai, UAE
          DFSA Firm Reference No. F002699
          Notice No. W633/2020

          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: Justin Baldachino
          Position: Managing Director
          DATE OF ISSUE: 24 February 2020

           

        • W632/2020 - Berkshire Hathaway Specialty Insurance Company

          Click here to view PDF.

          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. W632/2020

          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: 4 February 2020

           

      • 2019 2019

        • W631/2019 — Nasdaq Inc

          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. W631/2019

          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
          MKT Rules 3.3.4(b), 3.3.4(c), 3.3.5, 3.3.8(1)(b), 9.7.5 and 9.7.6.

          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 5.1.8(2)











          Table in MKT A2.1.1.

          A Reporting Entity must make the market disclosure required in (1) within the following time periods:

          (a) in relation to its annual financial report, as soon as possible after the financial statements have been approved, but no later than 120 days after the end of the financial period;
          (b) in relation to its semi-annual financial report, as soon as possible and in any event no later than 60 days after the end of the period to which the report relates or in accordance with the time permissible for the relevant US SEC filings; and
          (c) in relation to its preliminary financial results, as soon as possible but no later than 30 minutes before the market opens on the day after the approval of the Board or in accordance with the time permissible for the relevant US SEC filings.
          EVENT GIVING RISE TO DISCLOSURE OBLIGATION DISCLOSURE REQUIRED TIME OF DISCLOSURE
          ... ... ... ...
          6.2 The requirement to file a semi-annual financial report pursuant to Article 45(1)(a) of the Law Market disclosure of the report prepared in accordance with the relevant requirements set out in Rule 5.1.6 In accordance with Rule 5.1.8(2)(b) (as modified pursuant to Article 25(1) of the Regulatory Law 2004).
          6.3 The requirement to file preliminary financial results pursuant to Article 45(1)(b) of the Law Market disclosure of the preliminary financial results. In accordance with Rule 5.1.8(2)(c) (as modified pursuant to Article 25(1) of the Regulatory Law 2004).
          ... ... ... ...

          CONDITIONS

          1. 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.

          2. Documents incorporated by reference in the annual report must be published in accordance with the timetable for lodgement of the annual report under MKT Rule A2.1.1 item 6.

          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: 19 December 2019

        • W630/2019 — Guy Carpenter (Middle East) Limited

          Click herehere to view PDF.

          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. W630/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 12 December, 2019

        • W629/2019 — Emaar Capital (DIFC) Limited

          Click herehere to view PDF.

          WAIVER 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. W629/2019

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the table herein do not apply to the above mentioned Person with respect to a Fund that is a REIT.

          RULES WAIVED

          Rulebook Module Rule
          CIR CIR 13.4.1(3)

          CONDITIONS

          The waiver in respect of the Rule specified above remains in effect for the duration of the period set out below on condition that:

          (a) the above named Person to whom this notice applies must, with respect to the relevant Fund, comply with the requirements set out in:
          (i) CIR Rule 8.3.2(2), namely, it must ensure that any Related Party Transaction is on terms at least as favourable to the relevant Fund as any comparable arrangement on normal commercial terms negotiated at arm's length with an independent third party; and
          (ii) CIR Rules 13.4.18 to 13.4.24; and
          (b) the relevant Fund must remain a QIF until such time as it is listed and traded on an Authorised Market Institution or an exchange in a Recognised Jurisdiction.

          If any one or more of the conditions 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 in the form set out 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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 27 November, 2019

        • W628/2019 — MS Amlin (MENA) Limited

          Click herehere 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. W628/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 21/11/2019

        • W627/2019 — IPG Howden Dubai (DIFC)

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To IPG Howden Dubai (DIFC)
          Address TBA
          DFSA Firm Reference No. F004772
          Notice No. W627/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 10 November 2019

        • W626/2019 — EC3 Brokers MEA Limited

          Click herehere 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. W626/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 10 November 2019

        • W624/2019 — Houlihan Lokey (MEA Financial Advisory) Limited

          Click herehere 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. W624/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 5 November, 2019

        • W623/2019 — RKH Specialty Limited

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To RKH Specialty Limited
          Address Gate Village 11, The Exchange, Office 107, Level 1, PO Box 482078, Dubai, UAE
          DFSA Firm Reference No. F003832
          Notice No. W623/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 5 November, 2019

        • W622/2019 — SinoGulf (DIFC) Limited

          Click herehere 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. W622/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 22/10/2019

        • W621/2019 — The Access Bank UK Limited

          Click herehere to view PDF.

          WAIVER AND 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. W621/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          Date of Issue: 18 September 2019

        • W620/2019 — Kotak Mahindra Bank Limited

          Click herehere to view PDF.

          MODIFICATION NOTICE

          To Kotak Mahindra Bank Limited
          Address Office 703, Level 7, Al Fattan Currency House, Office Tower
          2, DIFC, PO Box 16498, Dubai, UAE
          DFSA Firm Reference No. F000186
          Notice No. W620/2019

          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 India (Indian GAAP).

          (2) In this Rule, Indian GAAP means accounting and valuation principles set-out in the guidelines of the Accounting Standards Board of the Institute of Chartered Accountants of India, including the statutory provisions and directives of the Reserve Bank of India.

          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 Generally Accepted Auditing Standards (Indian GAAS) issued by the Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India;
          (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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 16 October 2019

        • W619/2019 — Macquarie Bank Limited

          Click herehere to view PDF.

          WAIVER AND 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. W619/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          Date of Issue: 18 September 2019

        • W618/2019 — Quayside Reinsurance Company Limited

          Click herehere to view PDF.

          WAIVER NOTICE

          To Quayside Reinsurance Company Limited
          Address Unit 302, Level 3, Tower 1, Al Fattan Currency House, DIFC, PO Box 506770, Dubai, UAE
          DFSA Firm Reference No. F005640
          Notice No. W618/2019

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in the table herein do not apply to the above-mentioned Person.

          RULES WAIVED

          Rulebook Module Rule
          PIN Appendix 4 All Rules in section A4.8 (Concentration risk component)
          PIN Appendix 4 All Rules in section A4.9 (Size factor component)
          PIN Rule 7.2.3

          CONDITIONS

          None

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 24 September 2019

        • W617/2019 — State Street Global Advisors Limited

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To State Street Global Advisors Limited
          Address Unit OT 15-38, Level 15, Central Park Offices, DIFC, PO Box 26838, Dubai, UAE
          DFSA Firm Reference No. F004037
          Notice No. W617/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 5 September 2019

        • W616/2019 — Wethaq (Capital Markets) Ltd

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Wethaq (Capital Markets) Ltd
          Address Unit 8 & 9, Level 4, Gate Precinct Building 5, PO Box 74777, DIFC, Dubai, UAE
          DFSA Firm Reference No. F005322
          Notice No. W616/2019

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in Table 1 to this notice are waived in relation to Wethaq (Capital Markets) Ltd.

          The Rules specified in the left hand column of Table 2 to this notice do not apply to Wethaq (Capital Markets) 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 and 8.3, and Rule 8.6.3.
          COB Sections 5.5, 5.6 and 5.7.

          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.
          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.
          COB 5.4.1

          A Trust Service Provider must, except in relation to the first issuance, maintain professional indemnity insurance cover appropriate to the nature and size of the Trust Service Provider's business.

          PIB 6.12.2

          Except for the first issuance of sukuk, 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 constructed 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 capitalisaton 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: Bryan Stirewalt


          Position: Chief Executive
          DATE OF ISSUE: 26 August 2019

        • W615/2019 — Chubb Underwriting (DIFC) Limited

          Click herehere to view PDF.

          WAIVER AND 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. W615/2019

          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: Naweed Lalani


          Position: Director, Supervision
          DATE OF ISSUE: 22 August 2019

        • W614/2019 — Berry Palmer & Lyle Limited

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Berry Palmer & Lyle Limited
          Address N403, 4th Floor, Emirates Financial Towers, DIFC, PO Box 23325, Dubai, UAE
          DFSA Firm Reference No. F003745
          Notice No. W614/2019

          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: Naweed Lalani


          Position: Director, Supervision
          DATE OF ISSUE: 22 August 2019

        • W613/2019 — StormHarbour Securities LLP

          Click herehere 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. W613/2019

          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: Lawrence Paramasivam


          Position: Director, Supervision
          DATE OF ISSUE: 21 August 2019

        • W612/2019 — TokenMarket Capital Limited

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To TokenMarket Capital Limited
          Address Unit 8 & 9, Level 4, Gate Precinct Building 5, PO Box 74777, DIFC, Dubai, UAE
          DFSA Firm Reference No. F004794
          Notice No. W612/2019

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rules specified in Table 1 to this notice are waived in relation to Token Market Capital Limited.

          The Rules specified in the left hand column of Table 2 to this notice do not apply to Token Market Capital Limited 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 and Section 8.
          PIB Section 6.12

          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) the implementation of an Authorised Firm's anti-money laundering policies, procedures, systems and controls and day to day 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 constructed 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 capitalisaton 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: Peter Smith


          Position: Acting Chief Executive
          DATE OF ISSUE: 5 August 2019

        • W611/2019 — Maybank Islamic Berhad (Dubai-DIFC Branch)

          Click herehere to view PDF.

          WAIVER NOTICE

          To Maybank Islamic Berhad (Dubai-DIFC Branch)
          Address Units 310 , Level 3, Gate Precinct Building 3, Dubai International Financial Centre, Dubai, 506507, United Arab Emirates
          DFSA Firm Reference No. F004600
          Notice No. W611/2019

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rule specified in the table herein does not apply with respect to the above-mentioned Authorised Firm.

          RULES WAIVED

          Rulebook Module Rule
          IFR Rule 3.5.1(d)

          CONDITIONS

          The above-mentioned waiver remains in effect for the duration of the period set out below on condition that no more than one member of the Authorised Firm's Shari'a Supervisory Board is a director or Controller with respect to the Authorised Firm.

          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: Bryan Stirewalt


          Position: Chief Executive
          DATE OF ISSUE: 25 July 2019

        • W610/2019 — Gateway Investment Management Services (DIFC) Ltd

          Click herehere 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. W610/2019

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rule specified in the left hand column of the table herein does not apply to the above mentioned Person with respect to the Guidance Equipment Leasing Income Fund (OEIC) Limited in the form appearing in the Rulebook but instead applies as modified in the right hand column of the table.

          RULES MODIFIED

          The Rule specified in the left-hand column is 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
          CIR 12A.3.1

          (1) For the purposes of Article 27(1)(e) of the Law, the Fund Manager of a Qualified Investor Fund that is not an Investment Trust must ensure that the legal title to Fund Property is registered with an Eligible Custodian.

          (2) The requirement in Article 27(1)(e) of the Law does not apply to the Fund Manager of a Qualified Investor Fund if it is:

          (a) a Property Fund;
          (b) a Private Equity Fund; or
          (c) a Fund investing in an interest in the operation of a Real Property asset (such as investment in an infrastructure project); or
          (d) a Feeder Fund to the extent that it invests in a Master Fund that is a Property Fund and/or a Private Equity Fund.

          (3) If the Fund Manager of a Qualified Investor Fund itself holds Fund Property of a kind referred to in (2), it must have in place effective arrangements which ensure that the Fund Property is not available to creditors in the event of the insolvency of the Fund Manager.

          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: Bryan Stirewalt


          Position: Chief Executive
          DATE OF ISSUE: 25 July 2019

        • W609/2019 — NBK Capital Partners Limited

          Click herehere to view PDF.

          WAIVER AND 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. W609/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 24 July 2019

        • W608/2019 — Colchester Global Investors Middle East Limited

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Colchester Global Investors Middle East Limited
          Address Index Tower, Unit 403, Level 4, PO Box 506850, DIFC, Dubai, UAE
          DFSA Firm Reference No. F005205
          Notice No. W608/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 18 July 2019

        • W607/2019 — Moody's Investors Service Middle East Limited

          Click herehere to view PDF.

          MODIFICATION NOTICE

          To Moody's Investors Service Middle East Limited
          Address Level 3, Gate Precinct Building 3, DIFC, PO Box 506845,
          Dubai, United Arab Emirates
          DFSA Firm Reference No. F002033
          Notice No. W607/2019

          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 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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 26 June 2019

        • W606/2019 — TransRe Zurich Limited

          Click herehere to view PDF.

          MODIFICATION NOTICE

          To TransRe Zurich Limited
          Address Office No 11, Level 15, The Gate Building, DIFC, PO BOX
          506933, Dubai, UAE
          DFSA Firm Reference No. F002629
          Notice No. W606/2019

          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 Luxembourg (Lux GAAP).

          (2) In (1)(b), Lux GAAP means accounting and valuation principles set out in laws administered by, and regulations, directives and guidelines issued by, the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg.

          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, as adopted for Luxembourg by the Commission de Surveillance du Secteur Financier (CSSF);
          (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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 20 June 2019

        • W605/2019 — Actis UK Advisers Limited

          Click herehere to view PDF.

          MODIFICATION NOTICE

          To Actis UK Advisers Limited
          Address Unit 801, South Tower Emirates Financial Towers DIFC PO Box
          506925 Dubai, UAE
          DFSA Firm Reference No. F005245
          Notice No. W605/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 18 June 2019

        • W604/2019 — Actis UK Advisers Limited

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Actis UK Advisers Limited
          Address Unit S520A, Level 5, Emirates Financial Towers, DIFC, PO Box
          506878, Dubai, UAE
          DFSA Firm Reference No. F005245
          Notice No. W604/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 18 June 2019

        • W603/2019 — Rasameel Investment House Limited

          Click herehere to view PDF.

          WAIVER AND 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. W603/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 16 June 2019

        • W602/2019 — Old Mutual International Middle East Limited

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Old Mutual 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. W602/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 22 April 2019

        • W601/2019 — Starr Underwriting Agents (Dubai) Limited

          Click herehere to view PDF.

          WAIVER AND 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. W601/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 17 April 2019

        • W600/2019 — Gateway Investment Management Services (DIFC) Ltd

          Click herehere to view PDF.

          WAIVER 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. W600/2019

          THE DFSA HEREBY GIVES NOTICE THAT:

          The Rule specified in Table A does not apply to the abovementioned Person with respect to the following Funds managed by that Person:

          (a) Al Hadaf Open Ended PCC (C000035);
          (b) Pearl Capital (Commercial Real Estate) Fund (CEIC) Limited (C000066); and
          (c) Income Dividend Fund (OEIC) Limited (C000058).

          RULES WAIVED

          TABLE A
          Rulebook Module Rule
          CIR Rule 9.3.8

          CONDITIONS

          This notice is issued on the condition that the abovementioned Person provides, to the satisfaction of the DFSA, a formal written confirmation obtained from the Fund Administrator of each Fund, in respect of the financial year of each Fund, that the relevant Fund:

          (a) has not launched;
          (b) has not received investor money; and
          (c) in the case of the Income Dividend Fund (OEIC) Limited, has not incurred expenses greater than [AED750,000] within the relevant financial year.

          EFFECTIVE PERIOD

          This notice comes into effect on the date of issue of this notice and remains in force for 24 months, unless in relation to a Fund one of the following events occurs during the relevant financial year of the Fund, in which case this waiver ceases to apply in relation to that Fund for that financial year and any subsequent financial year. The relevant events are that the Fund:

          (a) is launched;
          (b) receives investor money; or
          (c) incurs expenses above AED [AED750,000] in the case of the Income Dividend Fund (OEIC) Limited.

          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: Bryan Stirewalt


          Position: Chief Executive
          DATE OF ISSUE: 9 April 2019

        • W599/2019 — Markel International (Dubai) Limited

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Markel International (Dubai) Limited
          Address Precinct Building 2, Level 3, DIFC, PO Box 506914, Dubai,
          UAE
          DFSA Firm Reference No. F002699
          Notice No. W599/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 27 March 2019

        • W598/2019 — Talbot Underwriting (MENA) Ltd

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Talbot Underwriting (MENA) Ltd
          Address Level 3, The Gate Precinct Building 2, DIFC, PO Box
          506809, Dubai, UAE
          DFSA Firm Reference No. F001099
          Notice No. W598/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 27 March 2019

        • W597/2019 — Swiss Re Corporate Solutions Limited

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To Swiss Re Corporate Solutions Limited
          Address Office 502, Level 5, Precinct Building 4, DIFC, PO Box
          506603, Dubai, UAE
          DFSA Firm Reference No. F001676
          Notice No. W597/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 25 March 2019

        • W596/2019 — Cantor Fitzgerald Europe (DIFC Branch)

          Click herehere to view PDF.

          MODIFICATION NOTICE

          To Cantor Fitzgerald Europe (DIFC Branch)
          Address Unit 14 Level 3, Gate Village Building 10
          Dubai International Financial Centre
          PO Box 482030
          Dubai, United Arab Emirates
          DFSA Firm Reference No. F005034
          Notice No. W596/2019

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 11 March 2019

        • W595/2019 — Farringdon Asset Management PTE Limited

          Click herehere to view PDF.

          MODIFICATION NOTICE

          To Farringdon Asset Management PTE Limited
          Trading as Farringdon Asset Management PTE Limited (DIFC Branch)
          Address Units S319, Level 3, Emirates Financial Towers, DIFC, PO Box
          507182, Dubai, UAE.
          DFSA Firm Reference No. F005032
          Notice No. W595/2019

          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 Singapore Financial Reporting Standards (Singapore FRS).

          (2) In this Rule, Singapore FRS means accounting and valuation principles set-out in the guidelines of the Accounting Standards Council of Singapore.

          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 Singapore Standards on Auditing (SSA) issued by the Institute of Singapore Chartered Accountants;
          (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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 5 March 2019

        • W594/2019 — S&P Global Ratings Europe Limited

          Click herehere to view PDF.

          MODIFICATION NOTICE

          To S&P Global Ratings Europe Limited
          Address Unit 501, Level 5, The Gate Precinct Building 1, DIFC,
          PO Box 506650, Dubai, UAE
          DFSA Firm Reference No. F001912
          Notice No. W594/2019

          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 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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 26 February 2019

        • W593/2019 — Berkshire Hathaway Specialty Insurance Company

          Click herehere to view PDF.

          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. W593/2019

          THE DFSA HEREBY GIVES NOTICE THAT:

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

          AND.

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 10 February 2019

        • W592/2019 — ICBC Standard Bank Plc (DIFC Branch)

          Click herehere to view PDF.

          WAIVER AND MODIFICATION NOTICE

          To ICBC Standard Bank Plc (DIFC Branch)
          Address Office 1501, 15th Floor, Al Fattan Currency House, Tower
          2, DIFC, PO Box 506960, Dubai, UAE
          DFSA Firm Reference No. F000028
          Notice No. W592/2019

          THE DFSA HEREBY GIVES NOTICE THAT:

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

          AND.

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 3 January 2019

      • 2018 2018

        • W591/2018 — Wilfred T. Fry (Personal Financial Planning) Limited

          Click herehere to view PDF.

          MODIFICATION NOTICE

          To Wilfred T. Fry (Personal Financial Planning) Limited
          Address Office N310, Level 3, Emirates Financial Towers, Dubai
          International Financial Centre, PO Box 507290, Dubai,
          United Arab Emirates
          DFSA Firm Reference No. F005071
          Notice No. W591/2018

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 19 December 2018

        • W590/2018 — MS Amlin (MENA) Limited

          Click herehere 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. W590/2018

          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: Arvind Baghel


          Position: Acting Managing Director, Supervision
          DATE OF ISSUE: 19 December 2018

        • W589/2018 — Smart Crowd Limited

          Click herehere 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. W589/2018

          THE DFSA HEREBY GIVES NOTICE THAT:

          The previous Waiver and Modification Notice No. W582/2018 is revoked and replaced by this Notice.

          The Rules specified in Table 1 to this notice are waived in relation to SmartCrowd Limited.

          The Rules specified in the left hand column of Table 2 to this notice do not apply to SmartCrowd Limited 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
          COB Rules 11.3.2 and 11.3.5
          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, 7.4.5, 7.4.6, 7.4.8 and Section 8
          AML Rules 11.2.1, 11.2.3 and 11.2.4

          RULES MODIFIED

          TABLE 2
          Rule Modified Text
          GEN 2.2.10F

          A Crowdfunding Operator must not Operate a Crowdfunding Platform that facilitates a Person investing in the following kinds of Investments through the platform:

          (a) Warrants, Certificates, Units or Structured Products; or
          (b) Derivatives.
          GEN 2.29.1

          (1) In Rule 2.2.2, a Person carries on the activity of Operating a Crowdfunding Platform if the Person:

          (a) Operates a Loan Crowdfunding Platform; or
          (b) Operates an Investment Crowdfunding Platform.

          (2) A Person Operates a Loan Crowdfunding Platform under (1)(a) if it does both of the following:

          (a) operates an electronic platform that facilitates the bringing together of potential lenders and borrowers; and
          (b) administers a loan agreement that results from operating the electronic platform.

          (3) If the Person referred to in (2) also provides a facility that assists a lender to transfer his rights and obligations under a loan agreement referred to in that paragraph, that activity is also included within Operating a Loan Crowdfunding Platform.

          (4) A Person Operates an Investment Crowdfunding Platform under (1)(b) if it does both of the following:

          (a) operates an electronic platform that facilitates the bringing together of potential investors and Persons who wish to sell property obtain funding for a business or project, resulting in an investor making an Investment in property with the Person seeking funding; and
          (b) administers an Investment that results from operating the electronic platform.

          (5) If the Person referred to in (4) also provides a facility that assists an investor to sell an investment referred to in that paragraph, that activity is also included within Operating an Investment Crowdfunding Platform.

          (6) In this Rule:

          (a) “administer a loan agreement” means:
          (i) provide information or perform other duties under the loan agreement on behalf of the borrower or lender;
          (ii) take steps to obtain the repayment of the loan; or
          (iii) exercise rights or perform obligations under the loan agreement on behalf of the borrower or lender;
          (b) “administer an Investment” means:
          (i) provide information or perform other duties relating to the property or Investment on behalf of the Issuer or investor;
          (ii) take steps to obtain the payment of any amount payable by the Issuer to an investor; or
          (iii) exercise rights or perform obligations relating to the Investment on behalf of the Issuer or investor;
          (iv) arrange for any services to be provided relating to the property; or
          (v) arrange for the sale of the property at the end of the investment period;
          (c) “electronic platform” means a website or other form of electronic media.; and
          (d) “property” means a house, villa or apartment including if applicable, any land attached to the house, villa or apartment.

          (7) A Person (A) administers a loan agreement or an Investment for the purposes of this Rule if A performs a function itself or through another Person who has been appointed by A, acts under an arrangement with A or acts at A's direction.

          (8) In this Rule, a reference to an investor making an Investment in property includes making an investment in a legal vehicle that owns the property (whether directly or indirectly).

          GEN 5.3.9 An Authorised Person must ensure that the Compliance Officer has access to it allocates sufficient resources to compliance, including an adequate number of competent staff, to perform his and that compliance duties can be carried out objectively and independently of operational and business functions.
          GEN 5.3.10 An Authorised Person must ensure that persons performing compliance duties have the Compliance Officer has unrestricted access to relevant records and to the Authorised Person's Governing Body and senior management.
          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) compliance matters in relation to the Authorised Firm's Financial Services; and
          (iii) 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 7.5.1

          (1) An Authorised Firm must, subject to (2), make the following appointments appoint a Senior Executive Officer and ensure that the position is they are held by one or more an Authorised Individuals at all times:.

          (a) Senior Executive Officer; and
          (b) Finance Officer;
          (c) Compliance Officer; and
          (d) Money Laundering Reporting Officer.

          (2) .....

          GEN 7.6.13 An Authorised Firm must ensure, in the case of an individuals seeking to perform the Licensed Functions of Senior Executive Officer, Money Laundering Reporting Officer, or Compliance Officer, that such the individuals are is able to demonstrate sufficient knowledge of relevant anti money laundering requirements.
          COB 11.2.2

          In this chapter:

          (a) “borrower” means a Person that has borrowed or is seeking to borrow money using a Loan Crowdfunding Platform;
          (b) “commitment period” means the period specified by the operator during which lenders may commit to lending money to a particular borrower or investors may commit to investing with a particular Issuer in a particular property;
          (c) “cooling-off period”, for Investment Crowdfunding, means the period referred to in Rule 11.5.2 when an investor may withdraw his commitment to invest with an Issuer in a particular property;
          (d) “investor” means an investor or potential investor using an Investment Crowdfunding Platform;
          (e) “lender” means a Person who:
          (i) lends money under a loan agreement; or
          (ii) by assignment has assumed the rights and obligations of a Person who has lent money under a loan agreement;
          (f) “loan agreement” means a loan agreement between a borrower and lender referred to in Rule 11.4.1;
          (g) “operator” means a Crowdfunding Operator;
          (h) “platform” means the website or other electronic media used to provide the service;
          (ha) “property” means a house, villa or apartment including, if applicable, any land attached to the house, villa or apartment.
          (hb) “seller” means a person selling property using a Real Estate Crowdfunding Platform;
          (i) “service” means Operating a Crowdfunding Platform; and
          (j) “transfer”, in relation to a loan agreement, means the assignment by the lender of his rights and obligations under the agreement to another Person.
          COB 11.3.1

          An operator must disclose prominently on its website the main risks to lenders or investors of using a Crowdfunding Platform, including that:

          (a) the lender or investor may lose all or part of their money or may experience delays in being paid investment in real estate is speculative, the market value of property can fall and rental income is not guaranteed;
          (b) borrowers or Issuers on the platform may include new businesses and, as many new businesses fail, a loan to such a borrower or an investment with such an Issuer may involve high risks;
          (c) the lender may not be able to transfer their loan, or the investor may not be able to sell their Investment, when they wish to, or at all; and
          (b) the investor will not own the property; rather the investor will have an interest in another legal entity that owns the property;
          (c) as the investor's interest in that entity is not listed or traded, it is likely to be an 'illiquid' investment; that is, it may be difficult to sell the interest because of a lack of investors willing to buy such an interest. So the investor must be prepared to commit to investing for the full investment period;
          (d) as real estate is an 'illiquid asset'; that is, an asset that cannot always be easily sold, it may be difficult to sell the property at the end of the investment period, resulting in a delay in investors receiving their capital or in the property being sold at a loss; and