Entire Section

  • DFSA's Relationship with Firms

    • RPP 3-1-7

      In order to meet its objectives, the DFSA requires an open, transparent and cooperative relationship between itself and a firm. The DFSA expects to establish and maintain an ongoing dialogue with the firm's senior management in order to develop and sustain a thorough understanding of the firm's business, systems and controls and, through this relationship, to be aware of all areas of risk to its objectives.

      Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]

    • RPP 3-1-8

      The DFSA seeks to maintain an up-to-date knowledge of a firm's business. However, a firm is also required to keep the DFSA informed of significant events, or anything related to the firm of which the DFSA would reasonably expect to be notified.

      Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]

    • RPP 3-1-9

      The nature and intensity of the DFSA's relationship with a firm may depend on a number of factors. The DFSA's level of supervision will be proportionate to the risks which the firm poses to the DFSA's objectives and will emphasise the responsibilities of the firm's senior management in identifying, assessing, mitigating and controlling its risks. The greater the impact and probability of the firm's perceived risks, the more intensive the supervisory relationship may be.

      Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]