Entire Section

  • Directions Power

    • RPP 3-6-8

      Article 26 of the Markets Law 2012 empowers the DFSA to give an Authorised Market Institution certain directions in relation to the Authorised Market Institution's duties under DFSA-administered laws. It also gives the DFSA a power to direct an Authorised Market Institution to do specified things including closing the market, suspending transactions and prohibiting trading in Investments. Article 26 also empowers the DFSA to exercise the powers contained in the Authorised Market Institution's Rules for participants as though it was the Authorised Market Institution where it considers that the Authorised Market Institution has not exercised the powers under those Rules.

      Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]
      Amended by Notice of Updates (Made 5th July 2012). July 2012 Edition

    • RPP 3-6-9

      In considering whether to exercise such powers, the DFSA may take into account factors including:

      (a) what steps the Authorised Market Institution has taken or is taking in respect of the issue being addressed in the planned direction;
      (b) the impact on the DFSA's objectives if a direction were not issued; or
      (c) whether it is in the interests of the DIFC.
      Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]

    • RPP 3-6-10

      The written notice given by the DFSA will specify what an Authorised Market Institution is required to do under the exercise of such powers. Though the DFSA is not required to do so under the Markets Law 2012, in most cases the DFSA will contact the Authorised Market Institution prior to issuing such a direction.

      Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]
      Amended by Notice of Updates (Made 5th July 2012). July 2012 Edition

    • RPP 3-6-11

      Article 35 of the Markets Law 2012 allows the DFSA to direct an Authorised Market Institution to suspend or delist Securities from its Official List of Securities. Such directions may take effect immediately or from a date and time as may be specified in the direction. Chapter 9 of the MKT contains details in this regard.

      Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]
      Amended by Notice of Updates (Made 5th July 2012). July 2012 Edition