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  • PIB 6.1 PIB 6.1 Application

    • PIB 6.1.1 PIB 6.1.1

      This chapter applies to an Authorised Firm as follows:

      (a) PIB Sections 6.1 to 6.9 apply to an Authorised Firm in any Category;
      (b) PIB Sections 6.10 and 6.11 apply only to an Authorised Firm in Category 1, 2, 3A or 5;
      (c) PIB section 6.12 applies only to an Authorised Firm in Category 3B, 3C, 3D or 4 which undertakes one or more of the following Financial Services:
      (i) Arranging Deals in Investments;
      (ii) Managing Assets;
      (iii) Advising on Financial Products;
      (iv) Managing a Collective Investment Fund;
      (v) Providing Custody;
      (vi) Insurance Intermediation;
      (vii) Insurance Management;
      (viii) Managing a Profit Sharing Investment Account (unrestricted);
      (ix) Providing Trust Services;
      (x) Providing Fund Administration;
      (xi) Acting as the Trustee of a Fund;
      (xii) Arranging Credit and Advising on Credit; 
      (xiii) Operating a Crowdfunding Platform;
      (xiv) Operating an Employee Money Purchase Scheme;
      (xv) Acting as the Administrator of an Employee Money Purchase Scheme;
      (xvi) Providing Money Services;
      (xvii) Arranging or Advising on Money Services; or
      (xviii) Operating an Alternative Trading System, if it holds Client Assets;
      (d) PIB Section 6.13 applies only to an Authorised Firm that provides Money Services, Account Information Services or Payment Initiation Services.
      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 RMI312/2021 (Made 30th June 2021). [VER40/10-21]

      • PIB 6.1.1 Guidance

        GEN section 5.3 of the GEN Module contains Rules and Guidance in relation to Systems and Controls, some of which may relate to the management of Operational Risk. The Corporate Governance rules in the GEN module set out overarching requirements in relation to Board responsibilities, including risk management. The Rules and Guidance in this section seek to complement the aforementioned requirements, while providing for a framework to address matters which directly relate to Operational Risk management.

        Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]