Entire Section

  • RPP 3-4 RPP 3-4 Supervision of DNFBPs

    • RPP 3-4-1

      The DFSA expects to undertake periodic visits to the place of business of a DNFBP as part of its risk based approach to supervising firms. The DFSA may also include DNFBPs in thematic visits.

      Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]
      Amended by Notice of Updates (Made 14th July 2013). July 2013 Edition

    • RPP 3-4-2

      Onsite visits to DNFBPs will generally focus on their compliance with relevant AML/CTF Laws and the Rulescontained in the AML module. This may include the DFSA testing the firm's systems and controls for conducting a money laundering risk assessment, customer due diligence and complying with relevant United Nations Security Council Sanctions and Resolutions.

      Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]
      Amended by Notice of Updates (Made 14th July 2013). July 2013 Edition

    • RPP 3-4-3

      The onsite visit is likely to include interviews with senior management and a review of relevant records. Depending on the outcome of the visit, the DFSA may provide a letter to the firm to discuss its findings.

      Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]

    • RPP 3-4-4

      The DFSA will also receive an Annual AML Return from a DNFBP (see AML Rule 14.5.1) which will assist the DFSA in its supervision of DNFBPs.

      Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]
      Amended by Notice of Updates (Made 14th July 2013). July 2013 Edition