Entire Section

  • 2011

    • W 114/2011 GEN — Itau Middle East Securities Limited

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      MODIFICATION NOTICE

      To Itau Middle East Securities Limited
      Address Suite 305, 3rd Floor, Al Fattan Tower, Currency House,
      PO Box 482034, DIFC
      Dubai, United Arab Emirates
      DFSA Firm Reference No. F000851
      Notice No. W114/2011

      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: 19 June 2011

    • W 151/2011 GEN — Western Asset Management Company Limited

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      MODIFICATION NOTICE

      To Western Asset Management Company Limited
      Address Office No 15223, Level 15, The Gate Building, DIFC, PO Box 121208, Dubai, UAE
      DFSA Firm Reference No. F001578
      Notice No. W151/2011

      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: Paul M. Koster
      Position: Chief Executive
      DATE OF ISSUE: 22 December 2011

    • W 152/2011 GEN — Western Asset Management Company Limited

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      MODIFICATION NOTICE

      To Western Asset Management Company Limited
      Address Office No 15223, Level 15, The Gate Building, DIFC, PO Box 121208, Dubai, UAE
      DFSA Firm Reference No. F001578
      Notice No. W152/2011

      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 M. Koster
      Position: Chief Executive
      DATE OF ISSUE: 22 December 2011

    • W 153/2011 PIB — Western Asset Management Company Limited

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      WAIVER AND MODIFICATION NOTICE

      To Western Asset Management Company Limited
      Address Office No 15223, Level 15, The Gate Building, DIFC, PO Box 121208, Dubai, UAE
      DFSA Firm Reference No. F001578
      Notice No. W153/2011

      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 resources in 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: 22 December 2011

    • W 093/2011 PIB — BGC Brokers L.P.

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      WAIVER AND MODIFICATION NOTICE

      To BGC Brokers L.P.
      Address Office No. 10, Level 03, Gate Village 10, PO Box 482004,
      DIFC, Dubai, UAE
      DFSA Firm Reference No. F001356
      Notice No. W093/2011

      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 resources in 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 Koster
      Position : Chief Executive
      DATE OF ISSUE: 20th January 2011

    • W 119/2011 PIB — Australia and New Zealand Banking Group Limited

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      WAIVER AND MODIFICATION NOTICE

      To Australia and New Zealand Banking Group Limited
      Address Office 1 & 2, Level 3, Gate Village 6, DIFC, PO Box 121939 Dubai UAE
      DFSA Firm Reference No. F001365
      Notice No. W119/2011

      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 resources in 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 Officer
      DATE OF ISSUE: 22 June 2011

    • W 105/2011 PIB — Macquarie Bank Limited

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      MODIFICATION NOTICE

      To Macquarie Bank Limited
      Address Level 7, Building 6, Emaar Square, PO Box 506751, Dubai, UAE
      DFSA Firm Reference No. F001369
      Notice No. W105/2011

      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 resources in 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: Paul Koster
      Position: Chief Executive
      DATE OF ISSUE: 11 May 2011

    • W 103/2011 AUT — HETCO Advisory Services UK Limited d/b/a HETCO Dubai

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      WAIVER AND MODIFICATION NOTICE

      To HETCO Advisory Services UK Limited d/b/a HETCO Dubai
      Address Level 7, Office No. 710, Liberty House, Dubai International Financial Centre,
      P O Box 506743, Dubai, UAE
      DFSA Firm Reference No. F001395
      Notice No. W103/2011

      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 resources in 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 : Acting Chief Executive
      DATE OF ISSUE: 19 April 2011

    • W 139/2011 PIB — Jefferies International Limited

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      WAIVER AND MODIFICATION NOTICE

      To Jefferies International Limited
      Address Office No 4216, Level 42, Emirates Towers, Sheikh Zayed
      Road, PO Box 31303, Dubai, UAE
      DFSA Firm Reference No. F001523
      Notice No. W139/2011

      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 resources in 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 Officer
      DATE OF ISSUE: 16 November 2011

    • W 144/2011 PIB — Institutional Cash Distributors Limited

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      WAIVER AND MODIFICATION NOTICE

      To Institutional Cash Distributors Limited
      Address Office No 32, Level 3, The Gate Village Building No 10, DIFC, PO Box 125115, Dubai, UAE
      DFSA Firm Reference No. F001566
      Notice No. W144/2011

      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 resources in 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 Officer
      DATE OF ISSUE: 05 December 2011

    • W 134/2011 PIB — Blackrock Advisors (UK) Limited

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To Blackrock Advisors (UK) Limited
      Address Level 1, Al Fattan Currency House, DIFC, PO Box 506661,
      Dubai, UAE
      DFSA Firm Reference No. F000738
      Notice No. W134/2011

      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 resources in 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 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: 23 October 2011

    • W 095/2011 PIB — ICICI Bank Limited

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To ICICI Bank Limited
      Address Office 5, Level 5, Building 4 East, DIFC, PO Box 506529,
      Dubai, UAE
      DFSA Firm Reference No. F000068
      Notice No. W095/2011

      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 resources in 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: 24 January 2011

    • W 147/2011 PIB — Merrill Lynch International

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To Merrill Lynch International
      Address 2nd floor, Gate Village 6, DIFC, PO Box 506576, Dubai, UAE
      DFSA Firm Reference No. F000216
      Notice No. W147/2011

      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 resources in 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: 12 December 2011

    • W 140/2011 PIB — Nomura International Plc (Dubai Branch)

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To Nomura International Plc (Dubai Branch)
      Address Building 6, Level 6
      DIFC, P.O.Box 506535
      Dubai, UAE
      DFSA Firm Reference No. F001008
      Notice No. W140/2011

      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 resources in 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 November 2011

    • W 094/2011 GEN — BGC Brokers L.P.

      Click herehere to view PDF

      MODIFICATION NOTICE

      To BGC Brokers L.P.
      Address Office No. 10, Level 03, Gate Village 10, PO Box 482004, DIFC,
      Dubai, UAE
      DFSA Firm Reference No. F001356
      Notice No. W094/2011

      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: 20th January 2011

    • W 104/2011 AUT — HETCO Advisory Services UK Limited d/b/a HETCO Dubai

      Click herehere to view PDF

      MODIFICATION NOTICE

      To HETCO Advisory Services UK Limited d/b/a HETCO Dubai
      Address Level 7, Office No. 710, Liberty House, Dubai International Financial Centre, P O Box 506743, Dubai, UAE
      DFSA Firm Reference No. F001395
      Notice No. W104/2011

      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 WAS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

      Name : Ian Johnston
      Position : Acting Chief Executive
      DATE OF ISSUE: 19 April 2011

    • W 133/2011 GEN — Blackrock Advisors (UK) Limited

      Click herehere to view PDF

      MODIFICATION NOTICE

      To Blackrock Advisors (UK) Limited
      Address Level 1, Al Fattan Currency House, DIFC, PO Box 506661,
      Dubai, UAE
      DFSA Firm Reference No. F000738
      Notice No. W133/2011

      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: Bryan Stirewalt
      Position: Managing Director
      DATE OF ISSUE: 23 October 2011

    • W 137/2011 GEN — Jefferies International Limited

      Click herehere to view PDF

      MODIFICATION NOTICE

      To Jefferies International Limited
      Address Office No 4216, Level 42, Emirates Towers, Sheikh Zayed
      Road, PO Box 31303, Dubai, UAE
      DFSA Firm Reference No. F001523
      Notice No. W137/2011

      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 M Koster
      Position: Chief Executive Officer
      DATE OF ISSUE: 16 November 2011

    • W 145/2011 GEN — Institutional Cash Distributors Limited

      Click herehere to view PDF

      MODIFICATION NOTICE

      To Institutional Cash Distributors Limited
      Address Office No 32, Level 3, The Gate Village Building No 10, DIFC, PO Box 125115, Dubai, UAE
      DFSA Firm Reference No. F001566
      Notice No. W145/2011

      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 M. Koster
      Position : Chief Executive Officer
      DATE OF ISSUE: 05 December 2011