Entire Section
2012
W 156/2012 PIB — Coutts & Co
WAIVER AND MODIFICATION NOTICE
To Coutts & Co Address Office No. 203, Level 2, Gate Village Building No. 4, DIFC, PO Box 506833, Dubai, UAE DFSA Firm Reference No. F001368 Notice No. W156/2012 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
As a consequence of waiving the Rules below, Table 2 in PIB chapter 1 is to be construed accordingly.
TABLE A PIB module Rule PIB Chapter 1 (General Requirements) All the Rules in section 1.4 (Trading Book) PIB Chapter 2 (Capital) All the Rules in Chapter 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 PIB Rule 1.2.1 An Authorised Firm must: (a) have and maintain at all times financial resources of the kinds and amounts specified in, and calculated in accordance with, the Rules in this module; and(b)ensure that it maintains financial resourcesin addition to the requirement in (a)which are adequate in relation to the nature, size and complexity of its business to ensure that there is no significant risk that liabilities cannot be met as they fall due.CONDITIONS
This notice waiving and modifying prudential Rules remains in effect for the duration or the period set out below on condition that the above named Person to whom this notice applies:
(a) remains classified as a Category 4 Authorised Firm;(b) complies with its home state Financial Services Regulator's prudential requirements and submits to the DFSA, a copy of every capital adequacy summary report submitted to the home state Financial Services Regulator within ten business days of the due date for submission to that regulator; and(c) in the event of any anticipated or actual breach of any prudential requirements which requires notification to the home state Financial Services Regulator, provides to the DFSA such notification forthwith with any relevant documents.If any one or more of the conditions stated above is breached, this notice ceases to have effect forthwith and the Rules specified in Table A and Table B herein apply to the above mentioned Person as 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 WAS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
Name: Paul M. Koster Position: Chief Executive DATE OF ISSUE: 12 February 2012 W185/2012 PIB — Perella Weinberg Partners UK LLP
WAIVER AND MODIFICATION NOTICE
To Perella Weinberg Partners UK LLP Address Office 304, Gate Village Building 1, PO Box 506582, DIFC, Dubai, UAE DFSA Firm Reference No. F001570 Notice No. W185/2012 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
As a consequence of waiving the Rules below, Table 2 in PIB chapter 1 is to be construed accordingly.
TABLE A PIB module Rule PIB Chapter 1 (General Requirements) All the Rules in section 1.4 (Trading Book) PIB Chapter 2 (Capital) All the Rules in Chapter 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 PIB Rule 1.2.1 An Authorised Firm must: (a) have and maintain at all times financial resources of the kinds and amounts specified in, and calculated in accordance with, the Rules in this module; and(b)ensure that it maintains financial resourcesin addition to the requirement in (a)which are adequate in relation to the nature, size and complexity of its business to ensure that there is no significant risk that liabilities cannot be met as they fall due.CONDITIONS
This notice waiving and modifying prudential Rules remains in effect for the duration or the period set out below on condition that the above named Person to whom this notice applies:
(a) remains classified as a Category 4 Authorised Firm;(b) complies with its home state Financial Services Regulator's prudential requirements and submits to the DFSA, a copy of every capital adequacy summary report submitted to the home state Financial Services Regulator within ten business days of the due date for submission to that regulator; and(c) in the event of any anticipated or actual breach of any prudential requirements which requires notification to the home state Financial Services Regulator, provides to the DFSA such notification forthwith with any relevant documents.If any one or more of the conditions stated above is breached, this notice ceases to have effect forthwith and the Rules specified in Table A and Table B herein apply to the above mentioned Person as 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 WAS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
Name: Ian Johnston Position: Chief Executive DATE OF ISSUE: 6 September 2012 W201/2012 PIB — Standard Life International Limited
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WAIVER AND MODIFICATION NOTICE
To Standard Life International Limited Address Office No 19, Level 15, The Gate, DIFC, PO Box 121208, Dubai, UAE DFSA Firm Reference No. F001615 Notice No. W201/2012 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
As a consequence of waiving the Rules below, Table 2 in PIB chapter 1 is to be construed accordingly.
TABLE A PIB module Rule PIB Chapter 1 (General Requirements) All the Rules in section 1.4 (Trading Book) PIB Chapter 2 (Capital) All the Rules in Chapter 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 PIB Rule 1.2.1 An Authorised Firm must: (a) have and maintain at all times financial resources of the kinds and amounts specified in, and calculated in accordance with, the Rules in this module; and(b)ensure that it maintains financial resourcesin addition to the requirement in (a)which are adequate in relation to the nature, size and complexity of its business to ensure that there is no significant risk that liabilities cannot be met as they fall due.CONDITIONS
This notice waiving and modifying prudential Rules remains in effect for the duration or the period set out below on condition that the above named Person to whom this notice applies:
(a) remains classified as a Category 4 Authorised Firm;(b) complies with its home state Financial Services Regulator's prudential requirements and submits to the DFSA, a copy of every capital adequacy summary report submitted to the home state Financial Services Regulator within ten business days of the due date for submission to that regulator; and(c) in the event of any anticipated or actual breach of any prudential requirements which requires notification to the home state Financial Services Regulator, provides to the DFSA such notification forthwith with any relevant documents.If any one or more of the conditions stated above is breached, this notice ceases to have effect forthwith and the Rules specified in Table A and Table B herein apply to the above mentioned Person as 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 WAS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
Name: Bryan Stirewalt Position: Managing Director, Supervision DATE OF ISSUE: 20 November 2012 W 155/2012 PIB — Moelis & Company UK LLP, DIFC Branch
WAIVER AND MODIFICATION NOTICE
To Moelis & Company UK LLP, DIFC Branch Address Suite 03, Level 6, Gate Precinct 3, DIFC, PO Box 506777, Dubai, UAE DFSA Firm Reference No. F001620 Notice No. W155/2012 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
As a consequence of waiving the Rules below, Table 2 in PIB chapter 1 is to be construed accordingly.
TABLE A PIB module Rule PIB Chapter 1 (General Requirements) All the Rules in section 1.4 (Trading Book) PIB Chapter 2 (Capital) All the Rules in Chapter 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 PIB Rule 1.2.1 An Authorised Firm must: (a) have and maintain at all times financial resources of the kinds and amounts specified in, and calculated in accordance with, the Rules in this module; and(b)ensure that it maintains financial resourcesin addition to the requirement in (a)which are adequate in relation to the nature, size and complexity of its business to ensure that there is no significant risk that liabilities cannot be met as they fall due.CONDITIONS
This notice waiving and modifying prudential Rules remains in effect for the duration or the period set out below on condition that the above named Person to whom this notice applies:
(a) remains classified as a Category 4 Authorised Firm;(b) complies with its home state Financial Services Regulator's prudential requirements and submits to the DFSA, a copy of every capital adequacy summary report submitted to the home state Financial Services Regulator within ten business days of the due date for submission to that regulator; and(c) in the event of any anticipated or actual breach of any prudential requirements which requires notification to the home state Financial Services Regulator, provides to the DFSA such notification forthwith with any relevant documents.If any one or more of the conditions stated above is breached, this notice ceases to have effect forthwith and the Rules specified in Table A and Table B herein apply to the above mentioned Person as 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: Paul Koster Position: Chief Executive DATE OF ISSUE: 2 January 2012 W 168/2012 PIB — ICAP Securities Limited
WAIVER AND MODIFICATION NOTICE
To ICAP Securities Limited Address Office No 42, Level 15, The Gate Building, DIFC, PO Box 506744, Dubai, UAE DFSA Firm Reference No. F001660 Notice No. W168/2012 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
As a consequence of waiving the Rules below, Table 2 in PIB chapter 1 is to be construed accordingly.
TABLE A PIB module Rule PIB Chapter 1 (General Requirements) All the Rules in section 1.4 (Trading Book) PIB Chapter 2 (Capital) All the Rules in Chapter 2 PIB Chapter 4 (Credit Risk) All the Rules in sections 4.3 to 4.10 inclusive PIB Chapter 5 (Market Risk) All the Rules in section 5.6 PIB Chapter 7 (Group Risk) All the Rules in sections 7.3 and 7.4 RULES MODIFIED
The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances 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 PIB Rule 1.2.1 An Authorised Firm must: (a) have and maintain at all times financial resources of the kinds and amounts specified in, and calculated in accordance with, the Rules in this module; and(b)ensure that it maintains financial resourcesin addition to the requirement in (a)which are adequate in relation to the nature, size and complexity of its business to ensure that there is no significant risk that liabilities cannot be met as they fall due.CONDITIONS
This notice waiving and modifying prudential Rules remains in effect for the duration or the period set out below on condition that the above named Person to whom this notice applies:
(a) remains classified as a Category 3 Authorised Firm;(b) complies with its home state Financial Services Regulator's prudential requirements and submits to the DFSA, a copy of every capital adequacy summary report submitted to the home state Financial Services Regulator within ten business days of the due date for submission to that regulator; and(c) in the event of any anticipated or actual breach of any prudential requirements which requires notification to the home state Financial Services Regulator, provides to the DFSA such notification forthwith with any relevant documents.If any one or more of the conditions stated above is breached, this notice ceases to have effect forthwith and the Rules specified in Table A and Table B herein apply to the above mentioned Person as 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 WAS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
Name: Ian Johnston Position: Deputy Chief Executive DATE OF ISSUE: 22 April 2012 W 169/2012 PIB — The Bank of Tokyo-Mitsubishi UFJ Ltd.
WAIVER AND MODIFICATION NOTICE
To The Bank of Tokyo-Mitsubishi UFJ Ltd. Address Level 1, Building 6, Gate Village, DIFC, PO Box 506614, Dubai, UAE DFSA Firm Reference No. F000470 Notice No. W169/2012 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
As a consequence of waiving the Rules below, Table 2 in PIB chapter 1 is to be construed accordingly.
TABLE A PIB module Rule PIB Chapter 1 (General Requirements) All the Rules in section 1.4 (Trading Book) PIB Chapter 2 (Capital) All the Rules in Chapter 2 PIB Chapter 4 (Credit Risk) All the Rules in sections 4.3 to 4.10 inclusive PIB Chapter 5 (Market Risk) All the Rules in sections 5.3 to 5.9 inclusive PIB Chapter 7 (Group Risk) All the Rules in sections 7.3 and 7.4 RULES MODIFIED
The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances 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 PIB Rule 1.2.1 An Authorised Firm must: (a) have and maintain at all times financial resources of the kinds and amounts specified in, and calculated in accordance with, the Rules in this module; and(b)ensure that it maintains financial resourcesin addition to the requirement in (a)which are adequate in relation to the nature, size and complexity of its business to ensure that there is no significant risk that liabilities cannot be met as they fall due.CONDITIONS
This notice waiving and modifying prudential Rules remains in effect for the duration or the period set out below on condition that the above named Person to whom this notice applies:
(a) remains classified as a Category 1 or 2 Authorised Firm;(b) complies with its home state Financial Services Regulator's prudential requirements and submits to the DFSA, a copy of every capital adequacy summary report submitted to the home state Financial Services Regulator within ten business days of the due date for submission to that regulator; and(c) in the event of any anticipated or actual breach of any prudential requirements which requires notification to the home state Financial Services Regulator, provides to the DFSA such notification forthwith with any relevant documents.If any one or more of the conditions stated above is breached, this notice ceases to have effect forthwith and the Rules specified in Table A and Table B herein apply to the above mentioned Person as 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 WAS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
Name: Bryan Stirewalt Position: Managing Director, Supervision DATE OF ISSUE: 30 April 2012 W 157/2012 PIB — UBS AG
WAIVER AND MODIFICATION NOTICE
To UBS AG Address DIFC, Building 6, 5th Floor, PO Box 506542, Dubai, UAE DFSA Firm Reference No. F000321 Notice No. W157/2012 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
As a consequence of waiving the Rules below, Table 2 in PIB chapter 1 is to be construed accordingly.
TABLE A PIB module Rule PIB Chapter 1 (General Requirements) All the Rules in section 1.4 (Trading Book) PIB Chapter 2 (Capital) All the Rules in Chapter 2 PIB Chapter 4 (Credit Risk) All the Rules in sections 4.3 to 4.10 inclusive PIB Chapter 5 (Market Risk) All the Rules in sections 5.3 to 5.9 inclusive PIB Chapter 7 (Group Risk) All the Rules in sections 7.3 and 7.4 RULES MODIFIED
The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances 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 PIB Rule 1.2.1 An Authorised Firm must: (a) have and maintain at all times financial resources of the kinds and amounts specified in, and calculated in accordance with, the Rules in this module; and(b)ensure that it maintains financial resourcesin addition to the requirement in (a)which are adequate in relation to the nature, size and complexity of its business to ensure that there is no significant risk that liabilities cannot be met as they fall due.CONDITIONS
This notice waiving and modifying prudential Rules remains in effect for the duration or the period set out below on condition that the above named Person to whom this notice applies:
(a) remains classified as a Category 1 or 2 Authorised Firm;(b) complies with its home state Financial Services Regulator's prudential requirements and submits to the DFSA, a copy of every capital adequacy summary report submitted to the home state Financial Services Regulator within ten business days of the due date for submission to that regulator; and(c) in the event of any anticipated or actual breach of any prudential requirements which requires notification to the home state Financial Services Regulator, provides to the DFSA such notification forthwith with any relevant documents.If any one or more of the conditions stated above is breached, this notice ceases to have effect forthwith and the Rules specified in Table A and Table B herein apply to the above mentioned Person as 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 WAS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
Name: Bryan Stirewalt Position: Managing Director, Supervision DATE OF ISSUE: 19 February 2012 W 159/2012 PIB — VTB Capital plc
WAIVER AND MODIFICATION NOTICE
To VTB Capital plc Address Office 403, Level 4, Currency House, Tower 2, DIFC,
PO Box 482088, Dubai, UAEDFSA Firm Reference No. F000994 Notice No. W159/2012 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
As a consequence of waiving the Rules below, Table 2 in PIB chapter 1 is to be construed accordingly.
TABLE A PIB module Rule PIB Chapter 1 (General Requirements) All the Rules in section 1.4 (Trading Book) PIB Chapter 2 (Capital) All the Rules in Chapter 2 PIB Chapter 4 (Credit Risk) All the Rules in sections 4.3 to 4.10 inclusive PIB Chapter 5 (Market Risk) All the Rules in sections 5.3 to 5.9 inclusive PIB Chapter 7 (Group Risk) All the Rules in sections 7.3 and 7.4 RULES MODIFIED
The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances 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 PIB Rule 1.2.1 An Authorised Firm must: (a) have and maintain at all times financial resources of the kinds and amounts specified in, and calculated in accordance with, the Rules in this module; and(b)ensure that it maintains financial resourcesin addition to the requirement in (a)which are adequate in relation to the nature, size and complexity of its business to ensure that there is no significant risk that liabilities cannot be met as they fall due.CONDITIONS
This notice waiving and modifying prudential Rules remains in effect for the duration or the period set out below on condition that the above named Person to whom this notice applies:
(a) remains classified as a Category 1 or 2 Authorised Firm;(b) complies with its home state Financial Services Regulator's prudential requirements and submits to the DFSA, a copy of every capital adequacy summary report submitted to the home state Financial Services Regulator within ten business days of the due date for submission to that regulator; and(c) in the event of any anticipated or actual breach of any prudential requirements which requires notification to the home state Financial Services Regulator, provides to the DFSA such notification forthwith with any relevant documents.If any one or more of the conditions stated above is breached, this notice ceases to have effect forthwith and the Rules specified in Table A and Table B herein apply to the above mentioned Person as 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 WAS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
Name: Bryan Stirewalt Position: Managing Director, Supervision DATE OF ISSUE: 19 February 2012 W 176/2012 PIB — JP Morgan Chase Bank, N.A.
WAIVER AND MODIFICATION NOTICE
To JP Morgan Chase Bank, N.A. Address Level 3, West Wing, The Gate, DIFC PO Box 506551 DFSA Firm Reference No. F000327 Notice No. W176/2012 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
As a consequence of waiving the Rules below, Table 2 in PIB chapter 1 is to be construed accordingly.
TABLE A PIB module Rule PIB Chapter 1 (General Requirements) All the Rules in section 1.4 (Trading Book) PIB Chapter 2 (Capital) All the Rules in Chapter 2 PIB Chapter 4 (Credit Risk) All the Rules in sections 4.3 to 4.10 inclusive PIB Chapter 5 (Market Risk) All the Rules in section 5.6 PIB Chapter 7 (Group Risk) All the Rules in sections 7.3 and 7.4 RULES MODIFIED
The Rules specified in the left hand column are modified to the extent shown in the right hand column of the table below. In this table, underlining indicates new text and striking through indicates deleted text, otherwise the Rule remains unaltered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances 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 PIB Rule 1.2.1 An Authorised Firm must: (a) have and maintain at all times financial resources of the kinds and amounts specified in, and calculated in accordance with, the Rules in this module; and(b)ensure that it maintains financial resourcesin addition to the requirement in (a)which are adequate in relation to the nature, size and complexity of its business to ensure that there is no significant risk that liabilities cannot be met as they fall due.CONDITIONS
This notice waiving and modifying prudential Rules remains in effect for the duration or the period set out below on condition that the above named Person to whom this notice applies:
(a) remains classified as a Category 3 Authorised Firm;(b) complies with its home state Financial Services Regulator's prudential requirements and submits to the DFSA, a copy of every capital adequacy summary report submitted to the home state Financial Services Regulator within ten business days of the due date for submission to that regulator; and(c) in the event of any anticipated or actual breach of any prudential requirements which requires notification to the home state Financial Services Regulator, provides to the DFSA such notification forthwith with any relevant documents.If any one or more of the conditions stated above is breached, this notice ceases to have effect forthwith and the Rules specified in Table A and Table B herein apply to the above mentioned Person as 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 WAS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
Name: Bryan Stirewalt Position: Managing Director, Supervision DATE OF ISSUE: 26 June 2012 W192/2012 GEN — Moody's Investors Service Limited
MODIFICATION NOTICE
To Moody's Investors Service Limited Address PO Box 506845
Dubai, United Arab EmiratesDFSA Firm Reference No. F001925 Notice No. W192/2012 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 8.2.1 (1) An Authorised Person must prepare and maintain all financial accounts and statements in accordance with:(a) the International Financial Reporting Standards (IFRS),; or(b) the generally accepted accounting principles in the United Kingdom (UK GAAP),except to the extent it complies with section 4.2 of the Islamic Finance Rules (IFR) module with respect of its Islamic Financial Business.(2) In this Rule UK GAAP means accounting and valuation principles in accordance with the guidelines of the UK Accounting Standards Board.GEN 8.6.1 An Authorised Firm or Authorised Market Institution, as applicable, must in writing require its auditor to: (a) conduct an audit of the Authorised Person's accounts in accordance with the requirements of the relevant standards published by the International Auditing and Assurance Standards Board (IAASB) or the generally accepted auditing standards ("UK GAAS") issued by the UK Auditing Practices Board, in respect of its financial business;(b) produce a report on the audited accounts which states:(i) whether, in the auditor's opinion, the accounts have been properly prepared in accordance with the requirements imposed by this chapter;(ii) in particular, whether the accounts give a true and fair view of the financial position of the Authorised Person for the financial year and of the state of the Authorised Person's affairs at the end of the financial year end; and(iii) any other matter or opinion relating to the requirements of this chapter;(c) produce an Auditor's Annual Report which states whether:(i) the auditor has audited the Authorised Person's annual financial statements in accordance with the IAASB or UK GAAS;(ii) the auditor has carried out any other procedures considered necessary, having regard to the IAASB or UK GAAS;the auditor has received all necessary information and explanations for the purposes of preparing this report to the DFSA;(iv) …………………………..and so on as per the Rulebook text up to and including (h).CONDITIONS
The Modification 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 in their unmodified form as they appear in the applicable module of the Rulebook in force at the relevant time.
EFFECTIVE PERIOD
This notice comes into effect on the date of issue of this notice and remains in force until further notice.
INTERPRETATION
The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.
Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.
THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
Name: Bryan Stirewalt Position: Managing Director, Supervision DATE OF ISSUE: 27 September 2012 W193/2012 COB — Moody's Investor's Service Limited
MODIFICATION NOTICE
To Moody's Investor's Service Limited Address PO Box 506845
Dubai, United Arab EmiratesDFSA Firm Reference No. F001925 Notice No. W193/2012 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 COB 8.6.3 (1) A Credit Rating Agency must ensure that its Employees who have a relevant material interest in a Rating Subject or its Related Party are not involved in the preparation or review of the relevant Credit Rating or able to influence that process.(2) For the purposes of Rule 8.6.3(1), an Employee of a Credit Rating Agency has a material interest in a Rating Subject if the Employee:(a) owns a security or a derivative relating to a Rating Subject or its Related Party, other than holdings in diversified collective investment funds;(b) has had a recent employment or other significant business relationship with a Rating Subject or its Related Party which may cause, or may be perceived as causing, conflicts of interest; or(c) has a Close Relative who, due to his Employment with theis currently employed by aRating Subject or its Related Party, may cause or may be perceived as causing a conflict of interest.COB 8.8.2 (1) A Credit Rating Agency must disclose on its website and include in itsannouncements relating to Credit Ratings and itsannual report the general nature of its arrangements relating to fees and charges with, or relating to, the Rating Subject including:(a) whether the Credit Rating Agency or any member of its Group receives any fees, charges or other monetary benefits which are unrelated to the provision by the Credit Rating Agency of its Credit Ratings, and if so, the proportion of such benefits relating to the aggregate fees and charges in respect of the provision of Credit Ratings; and(b) if the Credit Rating Agency receives 10% or more of its aggregate annual revenue from a single Rating Subject or its Related Party, information about that source.(2) Where a Credit Rating Agency is a member of a Group, the 10% aggregate annual income referred to in (1)(b) may be calculated by aggregating the net revenue of all Credit Rating Agencies within the Group.COB 8.8.3 A Credit Rating Agency must, where the Rating Subject is a structured financial product, disclose in its Credit Ratings, to the extent it is aware at the time of issuing the Credit Rating, whether the Relevant Information is made publicly available by the Rating Subject, or whether all, or some of, such information remains non-public. 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: Acting Chief Executive DATE OF ISSUE: 27 September 2012 W200/2012 GEN — Standard Life International Limited
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MODIFICATION NOTICE
To Standard Life International Limited Address Office No 19, Level 15, The Gate, DIFC, PO Box 121208, Dubai, UAE DFSA Firm Reference No. F001615 Notice No. W200/2012 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(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 6 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: Bryan Stirewalt Position: Managing Director, Supervision DATE OF ISSUE: 20 November 2012 W 154/2012 GEN — Moelis & Company UK LLP DIFC Branch
MODIFICATION NOTICE
To Moelis & Company UK LLP, DIFC Branch Address Suite 03, Level 6, Gate Precinct 3, DIFC, PO Box 506777, Dubai, UAE DFSA Firm Reference No. F001620 Notice No. W154/2012 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 8.2.1 (1) An Authorised Person must prepare and maintain all financial accounts and statements in accordance with:(a) the International Financial Reporting Standards (IFRS),; or(b) the generally accepted accounting principles in the United Kingdom (UK GAAP),except to the extent it complies with section 4.2 of the Islamic Finance Rules (IFR) module with respect of its Islamic Financial Business.(2) In this Rule UK GAAP means accounting and valuation principles in accordance with the guidelines of the UK Accounting Standards Board.GEN 8.6.1 An Authorised Firm or Authorised Market Institution, as applicable, must in writing require its auditor to: (a) conduct an audit of the Authorised Person's accounts in accordance with the requirements of the relevant standards published by the International Auditing and Assurance Standards Board (IAASB) or the generally accepted auditing standards ("UK GAAS") issued by the UK Auditing Practices Board, in respect of its financial business;(b) produce a report on the audited accounts which states:(i) whether, in the auditor's opinion, the accounts have been properly prepared in accordance with the requirements imposed by this chapter;(ii) in particular, whether the accounts give a true and fair view of the financial position of the Authorised Person for the financial year and of the state of the Authorised Person's affairs at the end of the financial year end; and(iii) any other matter or opinion relating to the requirements of this chapter;(c) produce an Auditor's Annual Report which states whether:(i) the auditor has audited the Authorised Person's annual financial statements in accordance with the IAASB or UK GAAS;(ii) the auditor has carried out any other procedures considered necessary, having regard to the IAASB or UK GAAS;(iii) the auditor has received all necessary information and explanations for the purposes of preparing this report to the DFSA;(iv) …………………………..and so on as per the Rulebook text up to and including (h).CONDITIONS
The Modification 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 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: Paul Koster Position: Chief Executive DATE OF ISSUE: 2 January 2012 W 163/2012 GEN — Swiss Re Corporate Solutions Ltd
MODIFICATION NOTICE
To Swiss Re Corporate Solutions Ltd Address Office number 38 & 53, Level 15,
The Gate Building
DIFC, PO Box 506603
Dubai, UAEDFSA Firm Reference No. F001676 Notice No. W163/2012 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 8.2.1 (1) An Authorised Person must prepare and maintain all financial accounts and statements in accordance with:(a) the International Financial Reporting Standards (IFRS),; or(b) the generally accepted accounting principles in Switzerland (Swiss GAAP),except to the extent it complies with section 4.2 of the Islamic Finance Rules (IFR) module with respect of its Islamic Financial Business.(2) In this Rule Swiss GAAP means accounting and valuation principles in accordance with the Swiss Code of Obligations, the Swiss Federal Law on banks and its relative Implementing Ordinance, as well as with the statutory provisions and directives issued by the Swiss Federal Banking Commission.GEN 8.6.1 An Authorised Firm or Authorised Market Institution, as applicable, must in writing require its auditor to: (a) conduct an audit of the Authorised Person's accounts in accordance with the requirements of the relevant standards published by the International Auditing and Assurance Standards Board (IAASB) or the generally accepted auditing standards ("Swiss GAAS"), in respect of its financial business;(b) produce a report on the audited accounts which states:(i) whether, in the auditor's opinion, the accounts have been properly prepared in accordance with the requirements imposed by this chapter;(ii) in particular, whether the accounts give a true and fair view of the financial position of the Authorised Person for the financial year and of the state of the Authorised Person's affairs at the end of the financial year end; and(iii) any other matter or opinion relating to the requirements of this chapter;(c) produce an Auditor's Annual Report which states whether:(i) the auditor has audited the Authorised Person's annual financial statements in accordance with the IAASB or Swiss GAAS;(ii) the auditor has carried out any other procedures considered necessary, having regard to the IAASB or Swiss GAAS;the auditor has received all necessary information and explanations for the purposes of preparing this report to the DFSA;(iv) …………………………..and so on as per the Rulebook text up to and including (h).CONDITIONS
The Modification 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 in their unmodified form as they appear in the applicable module of the Rulebook in force at the relevant time.
EFFECTIVE PERIOD
This notice comes into effect on the date of issue of this notice and remains in force until further notice.
INTERPRETATION
The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.
Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.
THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
Name: Paul M. Koster Position: Chief Executive Officer DATE OF ISSUE: 28 March 2012 W191/2012 GEN — Standard & Poor's Credit Market Services Europe Limited Dubai Branch
MODIFICATION NOTICE
To Standard & Poor's Credit Market Services Europe Limited Dubai Branch Address PO Box 506650
Dubai, United Arab EmiratesDFSA Firm Reference No. F001912 Notice No. W191/2012 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 8.2.1 (1) An Authorised Person must prepare and maintain all financial accounts and statements in accordance with:(a) the International Financial Reporting Standards (IFRS),; or(b) the generally accepted accounting principles in the United Kingdom (UK GAAP),except to the extent it complies with section 4.2 of the Islamic Finance Rules (IFR) module with respect of its Islamic Financial Business.(2) In this Rule UK GAAP means accounting and valuation principles in accordance with the guidelines of the UK Accounting Standards Board.GEN 8.6.1 An Authorised Firm or Authorised Market Institution, as applicable, must in writing require its auditor to: (a) conduct an audit of the Authorised Person's accounts in accordance with the requirements of the relevant standards published by the International Auditing and Assurance Standards Board (IAASB) or the generally accepted auditing standards ("UK GAAS") issued by the UK Auditing Practices Board, in respect of its financial business;(b) produce a report on the audited accounts which states:(i) whether, in the auditor's opinion, the accounts have been properly prepared in accordance with the requirements imposed by this chapter;(ii) in particular, whether the accounts give a true and fair view of the financial position of the Authorised Person for the financial year and of the state of the Authorised Person's affairs at the end of the financial year end; and(iii) any other matter or opinion relating to the requirements of this chapter;(c) produce an Auditor's Annual Report which states whether:(i) the auditor has audited the Authorised Person's annual financial statements in accordance with the IAASB or UK GAAS;(ii) the auditor has carried out any other procedures considered necessary, having regard to the IAASB or UK GAAS;the auditor has received all necessary information and explanations for the purposes of preparing this report to the DFSA;(iv) …………………………..and so on as per the Rulebook text up to and including (h).CONDITIONS
The Modification 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 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: Bryan Stirewalt Position: Managing Director, Supervision DATE OF ISSUE: 27 September 2012 W209/2012 GEN — Wells Fargo Bank, National Association
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MODIFICATION NOTICE
To Wells Fargo Bank, National Association Address Suite 1404, Park Place Tower, Sheikh Zayed Road, PO Box 53089, Dubai, UAE DFSA Firm Reference No. F001853 Notice No. W209/2012 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 un-altered. Where a significant number of the paragraphs of the Rule remain un-altered the entire Rule may not be reproduced in the table. In such circumstances the un-altered parts of the Rule will be referred to by the relevant identifying paragraph number or letter, as the case may be.
Rule Modified Text GEN 8.2.1 (1) An Authorised Person must prepare and maintain all financial accounts and statements in accordance with:(a) the International Financial Reporting Standards (IFRS),; or(b) the generally accepted accounting principles in the United States (US GAAP),except to the extent it complies with section 4.2 of the Islamic Finance Rules (IFR) module with respect of its Islamic Financial Business.(2) In this Rule US GAAP has the meaning given to that term in statement no. 162 as issued by the Financial Accounting Standards Board.GEN 8.6.1 An Authorised Firm or Authorised Market Institution, as applicable, must in writing require its auditor to: (a) conduct an audit of the Authorised Person's accounts in accordance with the requirements of the relevant standards published by the International Auditing and Assurance Standards Board (IAASB) or the Generally Accepted Auditing Standards (US GAAS) as issued by American Institute of Certified Public Accountants Auditing Standards Board and the Auditing Standards of the Public Company Accounting Oversight Board of the United States in respect of its financial business;(b) produce a report on the audited accounts which states:(i) whether, in the auditor's opinion, the accounts have been properly prepared in accordance with the requirements imposed by this chapter;(ii) in particular, whether the accounts give a true and fair view of the financial position of the Authorised Person for the financial year and of the state of the Authorised Person's affairs at the end of the financial year end; and(iii) any other matter or opinion relating to the requirements of this chapter;(c) produce an Auditor's Annual Report which states whether:(i) the auditor has audited the Authorised Person's annual financial statements in accordance with the IAASB or US GAAS;(ii) the auditor has carried out any other procedures considered necessary, having regard to the IAASB or US GAAS;(iii) the auditor has received all necessary information and explanations for the purposes of preparing this report to the DFSA;(iv) …………………………and so on as per the Rulebook text up to and including (h).CONDITIONS
The Modification 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 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: Bryan Stirewalt Position: Managing Director DATE OF ISSUE: 20 December 2012 W190/2012 GEN — Moody's Investors Service Limited
MODIFICATION NOTICE
To Moody's Investors Service Limited Address PO Box 506845
Dubai, United Arab EmiratesDFSA Firm Reference No. F001925 Notice No. W190/2012 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(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 : Bryan Stirewalt Position : Managing Director, Supervision DATE OF ISSUE: 27 September 2012 W183/2012 GEN — Moody's Investors Service Limited
MODIFICATION NOTICE
To Moody's Investors Service Limited Address PO Box 506845
Dubai, United Arab EmiratesDFSA Firm Reference No. F001925 Notice No. W183/2012 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 2.27.1 (1) In Rule 2.2.2, Operating a Credit Rating Agency means undertaking one or more Credit Rating Activities for the purpose of producing a Credit Rating with a view to that Credit Rating being:(a) disseminated to the public; or(b) distributed to a Person by subscription;whether or not it is in fact disseminated or distributed.(2) For the purposes of (1):(a) Credit Rating Activities are data and information analysis or the evaluation, approval, issue or review of a Credit Rating; and(b) a Credit Rating is an opinion expressed using an established and defined ranking system of rating categories regarding the creditworthiness of a Rating Subject.(3) In (2), a Rating Subject means:(a) a Person other than a natural person;(b) a credit commitment; or(c) a debt or debt-like Investment.(4) For the purposes of this Rule, a Person carrying out one or more of the activities specified in (1) on or before the date on which this Rule becomes effective is deemed to be duly authorised to carry on that activity for the period specified in (5) as long as that Person:(a) has submitted a duly completed application to the DFSA using the appropriate AFN for a licence to carry out the Financial Service of Operating a Credit Rating Agency; and(b) continues to carry on its business as documented in such application and supporting documents thereto (including the requests for Waivers and Modifications), which has been submitted by Moody's Investors Service Limited to the DFSA on the 13th of August 2012.(5) The effective period for the purposes of (4) is the period between the date on which this notice is issued and the date when whichever of the following occurs first:(a) expiry of 30 days;(b) the grant of a licence to the Applicant by the DFSA;(c) withdrawal of the licence application by the Applicant; or(d) notification by the DFSA of its decision not to grant a licence to the Applicant.CONDITIONS
This notice ceases to have effect if any one or more of the conditions stated in paragraph (4) of the modified Rule above is breached, in which event the specified Rule in its unmodified form becomes operative.
EFFECTIVE PERIOD
This notice comes into effect on the date of issue of this notice and remains effective for a period determined by reference to paragraph (5) of the modified Rule above.
INTERPRETATION
The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.
Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.
THIS NOTICE IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:
Name : Ian Johnston Position : Chief Executive DATE OF ISSUE: 16 August 2012