GEN 2.26 GEN 2.26 Operating a Representative Office
GEN 2.26.1(1) In GEN Rule 2.2.2 Operating a
Representative Officemeans the marketing of one or more financial services or financial products, provided such services or products are those offered:(a) in a jurisdiction other than the DIFC; and(b) by a related party of the Representative Office.(2) For the purposes of (1) 'marketing' means:(a) providing information on one or more financial products or financial services;(b) engaging in Financial Promotions in relation to (a); or(c) making introductions or referrals in connection with the offer of financial services or financial products;provided that such activities do not constitute:(d) Advising on Financial Products;(e) Advising on Credit; or(3) For the purposes of this Rule:(a) a 'financial product' means an Investment, a Credit Facility, a Deposit, a Profit Sharing Investment Accountor a Contract of Insurance; and(b) a 'related party' of a Representative Officemeans:(i) the same Body Corporateas the Representative Office, including its head office or any other branch; and(ii) a member of the same Groupas the Body Corporatereferred to in (i).
Authorised Firmother than a Representative Officedoes not Operate a Representative Officeif it undertakes any activities of the kind described in GEN Rule 2.26.1 that constitute marketing.[Added] DFSA RM68/2009 (Made 3rd January 2010). [VER24/01-10]
GEN 2.26.3 GEN 2.26.3
Any communication which amounts to marketing in respect of a financial service or financial product, which is issued by or on behalf of a government or non-commercial government entity, does not constitute marketing for the purposes of GEN Rule 2.26.1.[Added] DFSA RM68/2009 (Made 3rd January 2010). [VER24/01-10]