Entire Section
PIB 3.6 PIB 3.6 Base Capital Requirement
PIB 3.6.1 PIB 3.6.1
This section applies to an
Authorised Firm in anyCategory .Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]PIB 3.6.1 Guidance
1. TheBase Capital Requirement is a component of the calculation of theCapital Requirement under PIB sections 3.3, 3.4 and 3.5.2. As the Base Capital Requirement in PIB Rule 3.5.2 does not apply to an Authorised Firm that only manages Venture Capital Funds, this section also does not apply to such a firm.Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]
[Added] DFSA RMI281/2020 (Made 28th October 2020). [VER37/11-20]PIB 3.6.2
The table below sets out the
Base Capital Requirement for eachCategory of anAuthorised Firm .Category Base Capital Requirement Category 1US $10 million Category 2US $2 million Category 3AUS $500,000
Category 3BUS $4 million
Except if the only Financial Service referred to in PIB Rule 1.3.4 is Operating an Employee Money Purchase Scheme or Acting as the Administrator of an Employee Money Purchase Scheme, in which case the Base Capital Requirement is:(a) US $500,000 for an Operator; or(b) US $1 million for an Administrator.Category 3CUS $500,000
Except if the onlyFinancial Service referred to in PIB Rule 1.3.5(a) that theAuthorised Firm is authorised to carry on isManaging a Collective Investment Fund in which case itsBase Capital Requirement is:(a) US $140,000 if it manages anyPublic Fund or Credit Fund; or(b) US $70,000 otherwise.Category 3D US $200,000
Category 4US $ 10,000
Except if theAuthorised Firm :(a) is authorised toOperate a Crowdfunding Platform and it holdsClient Assets ;(b) provides Money Transmission; or(c) is authorised to Operate an Alternative Trading System and it holds Client Assets,in which case itsBase Capital Requirement is US $140,000.Category 5US $10 million Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]
[Amended] DFSA RM188/2016 (Made 7th December 2016). [VER26/02-17]
[Amended] DSFA RM203/2017 (Made 14th June 2017). [VER28/08-17]
[Amended] DFSA RMI263/2019 (Made 18th December 2019). [VER35/01-20]
[Amended] DFSA RMI270/2020 (Made 26th February 2020). [VER36/04-20]
[Amended] DFSA RMI304/2021 (Made 30th June 2021). [VER39/09-21]
[Amended] DFSA RMI312/2021 (Made 30th June 2021). [VER40/10-21]
[Added] DFSA RMI326/2022 (Made 27th April 2022). [VER42/06-22]PIB 3.6.3
An
Authorised Firm must have Common Equity Tier 1 Capital (CET1 Capital), as defined in PIB section 3.13, of not less than its relevantBase Capital Requirement at the time that it obtains authorisation and at all times thereafter.Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]