Entire Section

  • GEN 5.1.1 GEN 5.1.1

    (1) Subject to (5), this chapter applies to every Authorised Person with respect to the Financial Services carried on in or from the DIFC.
    (2) It also applies in a Prudential Context to a Domestic Firm with respect to all its activities wherever they are carried on.
    (3) GEN Section 5.3 also applies to an Authorised Firm in a Prudential Context with respect to its entire DIFC branch's activities wherever they are carried on.
    (4) This chapter also applies to an Authorised Market Institution, if it has an endorsed Licence authorising it to maintain an Official List of Securities, with respect to such maintenance.
    (5) GEN Rules 5.3.13, 5.3.14, 5.3.15, 5.3.23, 5.3.24, 5.3.30 and 5.3.31 do not apply to an Authorised ISPV.
    (6) This chapter does not apply to a Representative Office.
    Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
    [Amended] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]
    [Amended] DFSA RM48/2007 (Made 1st October 2007). [VER16/10-07]
    [Amended] DFSA RM68/2009 (Made 3rd January 2010). [VER24/01-10]
    [Amended] DFSA RM95/2012 (Made 14th June 2012). [VER29/06-12]

    • GEN 5.1.1 Guidance

      1. The purpose of this chapter is to set out the requirements for the Governing Body and the senior management within an Authorised Person who are to take direct responsibility for the Authorised Person's arrangements on matters likely to be of interest to the DFSA wherever they may give rise to risks to the DFSA's objectives or they affect the DFSA's functions under the legislation applicable in the DIFC. See also the requirements relating to organisation in Rules 5.3.2 and 5.3.3.
      2. In relation to an Authorised Market Institution, this chapter should be read in conjunction with the AMI module.
      3. In relation to an Authorised Firm which is a Fund Manager or the Trustee, this chapter should be read in conjunction with the CIR module and construed to take into account any Fund which the Authorised Firm operates or for which it acts as the Trustee.
      4. In relation to an Authorised Person which carries on Islamic Financial Business in or from the DIFC, this chapter should be read in conjunction with the IFR module.
      Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]
      [Amended][VER8/04-06]
      [Amended]DFSA RM34/2006[VER11/08-06]
      [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER26/07-10]
      [Amended] DFSA RM95/2012 (Made 14th June 2012). [VER29/06-12]
      [Amended] DFSA RM105/2012 (Made 23rd December 2012). [VER32/12-12]