Entire Section

  • 2015 2015

    • W430/2015 MKT — ICD and Hilal Services Ltd

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      MODIFICATION NOTICE

      To ICD and Hilal Services Ltd
      Address Walkers Fiduciary Limited, Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman KY1-9008, Cayman Islands
      DFSA Firm Reference No. F003411
      Notice No. W430/2015

      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
      MKT A5.1.1 The following entities are Exempt Offerors:
      (a) Properly constituted governments, government agencies, central banks or other national monetary authorities of the following countries or jurisdictions:
      (i) Organisation for Economic Co-operation and Development (OECD) member countries;
      (ii) member countries of the Gulf Co-operation Council (GCC); or
      (iii) the Emirate of Dubai.
      (b) The International Monetary Fund and the World Bank.
      (c) Any other country, jurisdiction, or supranational organisation or legal person that may be approved as an Exempt Offeror by the DFSA for the purpose of that offer.

      CONDITIONS

      None.

      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 AND ARTICLE 9 OF THE MARKETS LAW 2012 BY:

      Name: Eric Salomons
      Position: Director, Head of Markets
      DATE OF ISSUE: 7 September 2015

    • W429/2015 AML & GEN — Amlin (Dubai) Limited

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      WAIVER AND MODIFICATION NOTICE

      To Amlin (Dubai) Limited
      Address Level 3, Precinct Building 2, DIFC, P.O. Box 506929, Dubai, UAE
      DFSA Firm Reference No. F002680
      Notice No. W429/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 23 December 2015

    • W428/2015 GEN — Amlin (Dubai) Limited

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      MODIFICATION NOTICE

      To Amlin (Dubai) Limited
      Address Level 3, Precinct Building 2, DIFC, P.O. Box 506929, Dubai, UAE
      DFSA Firm Reference No. F002680
      Notice No. W428/2015

      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: 23 December 2015

    • W426/2015 FER — Noor Tier 1 Sukuk Limited

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      MODIFICATION NOTICE

      To Noor Tier 1 Sukuk Limited
      Address c/o MaplesFS Limited, P.O. Box 1093, Queensgate House,
      Grand Cayman, KY1-1102 Cayman Islands
      DFSA Firm Reference No. F003239
      Notice No. W426/2015

      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
      FER 1.2.7
      (1) In respect of any fee payable in accordance with FER, the fee must, subject to (2) and (3), be paid:
      (a) by the Person to whom the Rule applies;
      (b) in United States Dollars; and
      (c) by bank transfer directly from a bank account maintained by the Person specified in (a) into the DFSA's bank account.
      (2) The DFSA will accept payment of a fee in United States Dollars from a member of the applicant's Group, the applicant's Parent, the applicant's legal advisor (where such an advisor is a DNFBP ) or a Person who has applied to be a Controller in relation to the applicant but only where:
      (a) the relevant fee is an application fee under section FER 2.1 or FER 2.3; and
      (b) the applicant is in formation and does not have a commercial licence to enable it to open a bank account in its own name established in another jurisdiction.
      (3) For a fee specified in FER 2.9.1 or 4.1.1, the DFSA will accept payment of the fee in US Dollars by a bank transfer directly from the bank account of any of the following:
      (a) the Issuer, Offeror or Reporting Entity of the Securities;
      (b) in the case of an Issuer that is a special purpose vehicle, the Person who set up or controls, directly or indirectly, the special purpose vehicle;
      (c) the lead arranger of a proposed issue of Securities, if that Person is a Bank or authorised to accept deposits and supervised by the Central Bank of the State; or
      (d) the legal adviser (if it is a DNFBP) acting for a Person referred to in (a), (b) or (c).
      (4) In (3), a reference to an Issuer, Offeror or Reporting Entity includes the proposed Issuer, Offeror or Reporting Entity and a "special purpose vehicle" means a legal person whose objects and purposes are primarily the issue of Securities.

      CONDITIONS

      None.

      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: Eric Salomons
      Position: Director, Head of Markets
      DATE OF ISSUE: 22 December 2015

    • W424/2015 AML & GEN — Man Investments Middle East Limited

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      WAIVER AND MODIFICATION NOTICE

      To Man Investments Middle East Limited
      Address Office 307, Precinct Building 4, DIFC, PO Box 73221, Dubai, UAE
      DFSA Firm Reference No. F000066
      Notice No. W424/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 20 December 2015

    • W423/2015 GEN — Man Investments Middle East Limited

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      MODIFICATION NOTICE

      To Man Investments Middle East Limited
      Address Office 307, Precinct Building 4, DIFC, PO Box 73221, Dubai, UAE
      DFSA Firm Reference No. F000066
      Notice No. W423/2015

      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: 20 December 2015

    • W422/2015 PIN — Partner Reinsurance Europe SE

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      WAIVER NOTICE

      To Partner Reinsurance Europe SE
      Address Unit 6, Level 13, Gate Building, Dubai International Financial Centre, PO Box 507036, Dubai, UAE
      DFSA Firm Reference No. F002638
      Notice No. W422/2015

      THE DFSA HEREBY GIVES NOTICE THAT:

      The Rules specified in the table herein do not apply to the above mentioned Person.

      RULES WAIVED

      Rulebook Module Rule
      PIN Chapter 4 Rules 4.3.2 – 4.3.4 (inclusive) (Capital)
      PIN Chapter 6 Rule 6.2.4 (Financial Reporting)
      PIN Chapter 7 All sections (Actuaries)

      CONDITIONS

      The waiver in respect of the Rules specified above remains in effect for the duration of the period set out below on condition that the above named Person to whom this notice applies provides the following documents and information in the English language to the DFSA within ten business days of the date they are due to be submitted to its home state Financial Services Regulator:

      (a) Its annual audited published accounts as provided to its home state Financial Services Regulator;
      (b) Any solo solvency requirement and capital adequacy requirement statement and/or returns required under its home state regulations and provided to its home state Financial Services Regulator;
      (c) Any Group solvency and capital adequacy report that is submitted to its home state Financial Services Regulator; and
      (d) In the event of any anticipated or actual breach of any prudential requirements, which require notification to its home state Financial Services Regulator, such notification is provided to DFSA forthwith with any relevant documents.

      If any one or more of the conditions stated above are breached, this notice ceases to have effect forthwith and the Rules specified in the table herein apply to the above mentioned Person in the form 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 IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

      Name: Bryan Stirewalt
      Position: Managing Director, Supervision
      DATE OF ISSUE: 16 December 2015

    • W421/2015 FER — Gold Reserve Sukuk Limited

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      MODIFICATION NOTICE

      To Gold Reserve Sukuk Limited
      Address Office 616, Level 6, Liberty House,
      Dubai International Financial Centre,
      PO Box 506734
      DFSA Firm Reference No. F002793
      Notice No. W421/2015

      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
      FER 1.2.7
      (1) In respect of any fee payable in accordance with FER, the fee must, subject to (2) and (3), be paid:
      (a) by the Person to whom the Rule applies;
      (b) in United States Dollars; and
      (c) by bank transfer directly from a bank account maintained by the Person specified in (a) into the DFSA's bank account.
      (2) The DFSA will accept payment of a fee in United States Dollars from a member of the applicant's Group, the applicant's Parent, the applicant's legal advisor (where such an advisor is a DNFBP ) or a Person who has applied to be a Controller in relation to the applicant but only where:
      (a) the relevant fee is an application fee under section FER 2.1 or FER 2.3; and
      (b) the applicant is in formation and does not have a commercial licence to enable it to open a bank account in its own name established in another jurisdiction.
      (3) For a fee specified in FER 2.9.1 or 4.1.1, the DFSA will accept payment of the fee in US Dollars by a bank transfer directly from the bank account of any of the following:
      (a) the Issuer, Offeror or Reporting Entity of the Securities;
      (b) in the case of an Issuer that is a special purpose vehicle, the Person who set up or controls, directly or indirectly, the special purpose vehicle;
      (c) the lead arranger of a proposed issue of Securities, if that Person is a Bank or authorised to accept deposits and supervised by the Central Bank of the State; or
      (d) the legal adviser (if it is a DNFBP) acting for a Person referred to in (a), (b) or (c).
      (4) In (3), a reference to an Issuer, Offeror or Reporting Entity includes the proposed Issuer, Offeror or Reporting Entity and a "special purpose vehicle" means a legal person whose objects and purposes are primarily the issue of Securities.

      CONDITIONS

      None.

      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: Eric Salomons
      Position: Director, Head of Markets
      DATE OF ISSUE: 16 December 2015

    • W420/2015 FER — SIB Sukuk Company III Limited

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      MODIFICATION NOTICE

      To SIB Sukuk Company III Limited
      Address c/o MaplesFS Limited
      P.O. Box 1093
      Queensgate House, Grand Cayman, KY1-1102
      Cayman Islands
      DFSA Firm Reference No. F002917
      Notice No. W420/2015

      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
      FER 1.2.7
      (1) In respect of any fee payable in accordance with FER, the fee must, subject to (2) and (3), be paid:
      (a) by the Person to whom the Rule applies;
      (b) in United States Dollars; and
      (c) by bank transfer directly from a bank account maintained by the Person specified in (a) into the DFSA's bank account.
      (2) The DFSA will accept payment of a fee in United States Dollars from a member of the applicant's Group, the applicant's Parent, the applicant's legal advisor (where such an advisor is a DNFBP ) or a Person who has applied to be a Controller in relation to the applicant but only where:
      (a) the relevant fee is an application fee under section FER 2.1 or FER 2.3; and
      (b) the applicant is in formation and does not have a commercial licence to enable it to open a bank account in its own name established in another jurisdiction.
      (3) For a fee specified in FER 2.9.1 or 4.1.1, the DFSA will accept payment of the fee in US Dollars by a bank transfer directly from the bank account of any of the following:
      (a) the Issuer, Offeror or Reporting Entity of the Securities;
      (b) in the case of an Issuer that is a special purpose vehicle, the Person who set up or controls, directly or indirectly, the special purpose vehicle;
      (c) the lead arranger of a proposed issue of Securities, if that Person is a Bank or authorised to accept deposits and supervised by the Central Bank of the State; or
      (d) the legal adviser (if it is a DNFBP) acting for a Person referred to in (a), (b) or (c).
      (4) In (3), a reference to an Issuer, Offeror or Reporting Entity includes the proposed Issuer, Offeror or Reporting Entity and a "special purpose vehicle" means a legal person whose objects and purposes are primarily the issue of Securities.

      CONDITIONS

      None.

      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: Eric Salomons
      Position: Director, Head of Markets
      DATE OF ISSUE: 26 November 2015

    • W419/2015 PIN — Qatar Reinsurance Company LLC

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      WAIVER NOTICE

      To Qatar Reinsurance Company LLC
      Address Office No 211–212, Level 2, Gate Village Building 4, DIFC, PO Box 506752, Dubai, UAE
      DFSA Firm Reference No. F002899
      Notice No. W419/2015

      THE DFSA HEREBY GIVES NOTICE THAT:

      The Rules specified in the table herein do not apply to the above mentioned Person.

      RULES WAIVED

      Rulebook Module Rule
      PIN Chapter 4 Rules 4.3.2 – 4.3.4 (inclusive) (Capital)
      PIN Chapter 6 Rule 6.2.4 (Financial Reporting)
      PIN Chapter 7 All sections (Actuaries)

      CONDITIONS

      The waiver in respect of the Rules specified above remains in effect for the duration of the period set out below on condition that the above named Person to whom this notice applies provides the following documents and information in the English language to the DFSA within ten business days of the date they are due to be submitted to its home state Financial Services Regulator:

      (a) Its annual audited published accounts as provided to its home state Financial Services Regulator;
      (b) Any solo solvency requirement and capital adequacy requirement statement and/or returns required under its home state regulations and provided to its home state Financial Services Regulator;
      (c) Any Group solvency and capital adequacy report that is submitted to its home state Financial Services Regulator; and
      (d) In the event of any anticipated or actual breach of any prudential requirements, which require notification to its home state Financial Services Regulator, such notification is provided to DFSA forthwith with any relevant documents.

      If any one or more of the conditions stated above are breached, this notice ceases to have effect forthwith and the Rules specified in the table herein apply to the above mentioned Person in the form 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 IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

      Name: Ian Johnston
      Position: Chief Executive
      DATE OF ISSUE: 22 November 2015

    • W418/2015 GEN — Aspen UK Syndicate Services Limited

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      MODIFICATION NOTICE

      To Aspen UK Syndicate Services Limited
      Address Office No. 15533, 15th Floor, The Gate Building, Gate District, DIFC, PO Box 507047, Dubai, UAE
      DFSA Firm Reference No. F002692
      Notice No. W418/2015

      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 8.2.2
      (1) An Authorised Person must, except as provided under Rule 8.2.3, prepare and maintain all financial statements in accordance with:
      (a) the International Financial Reporting Standards (IFRS); or
      (b) the Generally Accepted Accounting Principles in the United Kingdom (UK GAAP).
      (2) In this Rule, UK GAAP means accounting and valuation principles set-out in the guidelines of the UK Accounting Standards Board.
      GEN 8.6.1

      An Authorised Person must, in writing, require its Auditor to:

      (a) conduct an audit of and produce a Financial Statement Auditor's Report on the Authorised Person's financial statements in accordance with the International Standards on Auditing, or the International Standards on Auditing (UK and Ireland) (ISAs (UK and Ireland)) issued by the UK Audit and Assurance Council;
      (b) produce a Regulatory Returns Auditor's Report in accordance with the Rules in AUD App1 as relevant;
      (c) produce, if the Authorised Firm is permitted to control or hold Client Money, a Client Money Auditor's Report in accordance with the Rules in AUD App2;
      (d) produce, if the Authorised Firm is permitted to control or hold Insurance Monies, an Insurance Monies Auditor's Report in accordance with the Rules in AUD App3; and
      (e) produce, if the Authorised Firm is permitted to hold or control Client Investments, Arrange Custody or Provide Custody in or from the DIFC, a Safe Custody Auditor's Report in respect of such business as applicable, in accordance with the Rules in AUD App4.

      CONDITIONS

      The modification in respect of the Rules specified above 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 to whom this notice applies 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, Supervision
      DATE OF ISSUE: 15 November 2015

    • W417/2015 GEN — Willis Limited

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      MODIFICATION NOTICE

      To Willis Limited
      Address Unit 9&10, Level 2, Gate Village Building 4, DIFC, PO Box 507018, Dubai, UAE
      DFSA Firm Reference No. F002983
      Notice No. W417/2015

      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 8.2.2
      (1) An Authorised Person must, except as provided under Rule 8.2.3, prepare and maintain all financial statements in accordance with:
      (a) the International Financial Reporting Standards (IFRS); or
      (b) the Generally Accepted Accounting Principles in the United Kingdom (UK GAAP).
      (2) In this Rule, UK GAAP means accounting and valuation principles set-out in the guidelines of the UK Accounting Standards Board.
      GEN 8.6.1

      An Authorised Person must, in writing, require its Auditor to:

      (a) conduct an audit of and produce a Financial Statement Auditor's Report on the Authorised Person's financial statements in accordance with the International Standards on Auditing, or the International Standards on Auditing (UK and Ireland) (ISAs (UK and Ireland)) issued by the UK Audit and Assurance Council;
      (b) produce a Regulatory Returns Auditor's Report in accordance with the Rules in AUD App1 as relevant;
      (c) produce, if the Authorised Firm is permitted to control or hold Client Money, a Client Money Auditor's Report in accordance with the Rules in AUD App2;
      (d) produce, if the Authorised Firm is permitted to control or hold Insurance Monies, an Insurance Monies Auditor's Report in accordance with the Rules in AUD App3; and
      (e) produce, if the Authorised Firm is permitted to hold or control Client Investments, Arrange Custody or Provide Custody in or from the DIFC, a Safe Custody Auditor's Report in respect of such business as applicable, in accordance with the Rules in AUD App4.

      CONDITIONS

      The modification in respect of the Rules specified above 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 to whom this notice applies 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, Supervision
      DATE OF ISSUE: 12 November 2015

    • W416/2015 GEN — Bloomberg Tradebook Europe Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To Bloomberg Tradebook Europe Limited
      Address Al Fattan Currency House, Level 10, PO Box 506707, Dubai, UAE
      DFSA Firm Reference No. F001106
      Notice No. W416/2015

      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: 12 November 2015

    • W415/2015 AML & GEN — Bloomberg Tradebook Europe Limited

      Click herehere to view PDF.

      WAIVER AND MODIFICATION NOTICE

      To Bloomberg Tradebook Europe Limited
      Address Al Fattan Currency House, Level 10, PO Box 506707, Dubai, UAE
      DFSA Firm Reference No. F001106
      Notice No. W415/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 12 November 2015

    • W414/2015 AML & GEN — RFIB Group Limited

      Click herehere to view PDF.

      WAIVER AND MODIFICATION NOTICE

      To RFIB Group Limited
      Address Office 8, Level 1, Gate Village 7, DIFC, PO Box 506670, Dubai, UAE
      DFSA Firm Reference No. F000162
      Notice No. W414/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 26 October 2015

    • W403/2015 MKT — IFC and IFC Sukuk Company

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To IFC and IFC Sukuk Company
      Address International Finance Corporation
      2121 Pennsylvania Ave NW
      Washington, DC 20433
      DFSA Firm Reference No. F003410
      Notice No. W403/2015

      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
      MKT A5.1.1 The following entities are Exempt Offerors:
      (a) Properly constituted governments, government agencies, central banks or other national monetary authorities of the following countries or jurisdictions:
      (i) Organisation for Economic Co-operation and Development (OECD) member countries;
      (ii) member countries of the Gulf Co-operation Council (GCC); or
      (iii) the Emirate of Dubai.
      (b) The International Monetary Fund and the World Bank.
      (c) Any other country, jurisdiction, or supranational organisation, or legal entity established by a country, jurisdiction or supranational organisation, that may be approved as an Exempt Offeror by the DFSA for the purpose of that offer.

      CONDITIONS

      None.

      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: Eric Salomons
      Position: Director, Head of Markets
      DATE OF ISSUE: 25 August 2015

    • W413/2015 GEN — RFIB Group Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To RFIB Group Limited
      Address Office 8, Level 1, Gate Village 7, DIFC, PO Box 506670, Dubai, UAE
      DFSA Firm Reference No. F000162
      Notice No. W413/2015

      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: 26 October 2015

    • W402/2015 AML & GEN — DeaconCapital (Dubai) Limited

      Click herehere to view PDF.

      WAIVER AND MODIFICATION NOTICE

      To DeaconCapital (Dubai) Limited
      Address Office 708A, Level 7, Al Fattan Currency House Tower 2,
      DIFC, PO Box 506521, Dubai, UAE
      DFSA Firm Reference No. F001040
      Notice No. W402/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 13 September 2015

    • W412/2015 AML & GEN — Oaktree Capital Management (Dubai) Limited

      Click herehere to view PDF.

      WAIVER AND MODIFICATION NOTICE

      To Oaktree Capital Management (Dubai) Limited
      Address Office No 15052, The Gate, Level 15, DIFC, PO Box 121208, Dubai, UAE
      DFSA Firm Reference No. F0002385
      Notice No. W412/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 25 October 2015

    • W401/2015 GEN — DeaconCapital (Dubai) Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To DeaconCapital (Dubai) Limited
      Address Office 708A, Level 7, Al Fattan Currency House Tower 2,
      DIFC, PO Box 506521, Dubai, UAE
      DFSA Firm Reference No. F001040
      Notice No. W401/2015

      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: 13 September 2015

    • W411/2015 GEN — Oaktree Capital Management (Dubai) Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To Oaktree Capital Management (Dubai) Limited
      Address Office No 15052, The Gate, Level 15, DIFC, PO Box 121208, Dubai, UAE
      DFSA Firm Reference No. F002385
      Notice No. W411/2015

      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: 25 October 2015

    • W410/2015 FER — MAF Sukuk Ltd.

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To MAF Sukuk Ltd.
      Address PO Box 1093, Queensgate House, Grand Cayman, KY1-1102, Cayman Islands
      DFSA Firm Reference No. F002458
      Notice No. W410/2015

      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
      FER 1.2.7
      (1) In respect of any fee payable in accordance with FER, the fee must, subject to (2) and (3), be paid:
      (a) by the Person to whom the Rule applies;
      (b) in United States Dollars; and
      (c) by bank transfer directly from a bank account maintained by the Person specified in (a) into the DFSA's bank account.
      (2) The DFSA will accept payment of a fee in United States Dollars from a member of the applicant's Group, the applicant's Parent, the applicant's legal advisor (where such an advisor is a DNFBP ) or a Person who has applied to be a Controller in relation to the applicant but only where:
      (a) the relevant fee is an application fee under section FER 2.1 or FER 2.3; and
      (b) the applicant is in formation and does not have a commercial licence to enable it to open a bank account in its own name established in another jurisdiction.
      (3) For a fee specified in FER 2.9.1 or 4.1.1, the DFSA will accept payment of the fee in US Dollars by a bank transfer directly from the bank account of any of the following:
      (a) the Issuer, Offeror or Reporting Entity of the Securities;
      (b) in the case of an Issuer that is a special purpose vehicle, the Person who set up or controls, directly or indirectly, the special purpose vehicle;
      (c) the lead arranger of a proposed issue of Securities, if that Person is a Bank or authorised to accept deposits and supervised by the Central Bank of the State; or
      (d) the legal adviser (if it is a DNFBP) acting for a Person referred to in (a), (b) or (c).
      (4) In (3), a reference to an Issuer, Offeror or Reporting Entity includes the proposed Issuer, Offeror or Reporting Entity and a "special purpose vehicle" means a legal person whose objects and purposes are primarily the issue of Securities.

      CONDITIONS

      None.

      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: Eric Salomons
      Position: Director, Head of Markets
      DATE OF ISSUE: 22 October 2015

    • W400/2015 GEN — NBK Capital Partners Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To NBK Capital Partners Limited
      Address Level 4, Precinct Building 3, DIFC, PO Box 506506, Dubai, UAE
      DFSA Firm Reference No. F000150
      Notice No. W400/2015

      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: 13 September 2015

    • W409/2015 GEN — SinoGulf (DIFC) Limited ("SGDL")

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To SinoGulf (DIFC) Limited ("SGDL")
      Address Suite 414, Liberty House, DIFC, PO Box 49929, Dubai, UAE
      DFSA Firm Reference No. F000633
      Notice No. W409/2015

      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: 20 October 2015

    • W399/2015 AML & GEN — NBK Capital Partners Limited

      Click herehere to view PDF.

      WAIVER AND MODIFICATION NOTICE

      To NBK Capital Partners Limited
      Address Level 4, Precinct Building 3, DIFC, PO Box 506506, Dubai, UAE
      DFSA Firm Reference No. F000150
      Notice No. W399/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 13 September 2015

    • W408/2015 AML & GEN — SinoGulf (DIFC) Limited

      Click herehere to view PDF.

      WAIVER AND MODIFICATION NOTICE

      To SinoGulf (DIFC) Limited
      Address Suite 414, Liberty House, DIFC, PO Box 49929, Dubai, UAE
      DFSA Firm Reference No. F000633
      Notice No. W408/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 20 October 2015

    • W398/2015 GEN — Citibank, N.A.

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To Citibank, N.A.
      Address Unit 1, Level 7, Gate Precinct Building 2, DIFC,
      PO Box 507010, Dubai, UAE
      DFSA Firm Reference No. F000986
      Notice No. W398/2015

      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 8.2.2
      (1) An Authorised Person must, except as provided under Rule 8.2.3, prepare and maintain all financial statements in accordance with:
      (a) the International Financial Reporting Standards (IFRS); or
      (b) the Generally Accepted Accounting Principles in the United States of America (US GAAP).
      (2) In this Rule, US GAAP has the meaning given to that term in statement no. 162 issued by the Financial Accounting Standards Board.
      GEN 8.6.1 An Authorised Person must, in writing, require its Auditor to:
      (a) conduct an audit of and produce a Financial Statement Auditor's Report on the Authorised Person's financial statements in accordance with the International Standards on Auditing, or the Generally Accepted Auditing Standards (US GAAS) issued by the American Institute of Certified Public Accountants Auditing Standards Board and the Auditing Standards of the Public Company Accounting Oversight Board of the United States;
      (b) produce a Regulatory Returns Auditor's Report in accordance with the Rules in AUD App1 as relevant;
      (c) produce, if the Authorised Firm is permitted to control or hold Client Money, a Client Money Auditor's Report in accordance with the Rules in AUD App2;
      (d) produce, if the Authorised Firm is permitted to control or hold Insurance Monies, an Insurance Monies Auditor's Report in accordance with the Rules in AUD App3; and
      (e) produce, if the Authorised Firm is permitted to hold or control Client Investments, Arrange Custody or Provide Custody in or from the DIFC, a Safe Custody Auditor's Report in respect of such business as applicable, in accordance with the Rules in AUD App4.

      CONDITIONS

      The modification in respect of the Rules specified above 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 to whom this notice applies 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, Supervision
      DATE OF ISSUE: 07 September 2015

    • W387/2015 GEN — Sanne Group Dubai Limited

      Click herehere to view PDF

      MODIFICATION NOTICE

      To Sanne Group Dubai Limited
      Address Office 205, Level 2,
      Currency House,
      DIFC, PO Box 482042,
      Dubai, UAE
      DFSA Firm Reference No. F001475
      Notice No. W387/2015

      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: 21 June 2015

    • W407/2015 CIR — Emirates REIT Management (Private) Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To Emirates REIT Management (Private) Limited
      Address Office P4, Level 5, Gate Village 4,
      Dubai International Financial Centre,
      PO Box 482015,
      Dubai, United Arab Emirates
      DFSA Firm Reference No. F001310
      Notice No. W407/2015

      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 respect of The Residential REIT (CEIC) Limited (“the Fund”), 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
      CIR 13.4.1(2)(b) In the case of a Property Fund which is or intends to be a Public Fund, the Fund Manager:
      (a) may only use either an Investment Company or Investment Trust as the investment vehicle of the Fund;
      (b) must ensure that it is listed and traded on an Authorised Market Institution or is listed and traded on an exchange in a Recognised Jurisdiction within 6 months 3 years from the date on which the Units of the Fund are first Offered to the public or any other shorter period as specified in the Fund's Prospectus;and
      (c) must ensure that the Constitution of the Fund includes provisions that deal with:
      (i) the manner in which the issue and redemption of Units of the Fund will be made to ensure that the Fund is closed ended; and
      (ii) if applicable, the circumstances in which any Private Placements may be made.

      CONDITIONS

      The modification is issued on condition that the above named Person to whom this notice applies ensures that:

      (a) the Prospectus or other offering document of the Fund contains a clear disclosure regarding the modification and its effects; and
      (b) prior to the Fund being listed and traded, Units of the Fund are only offered to Professional Clients and Market Counterparties.

      If any one or more of the conditions 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 the form 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 the DFSA grants registration of the Fund 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 AND ARTICLE 10 OF THE COLLECTIVE INVESTMENT LAW 2010 BY:

      Name: Bryan Stirewalt
      Position: Managing Director, Supervision
      DATE OF ISSUE: 18 October 2015

    • W397/2015 REP — Quilter Cheviot Limited (DIFC Representative Office)

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      MODIFICATION NOTICE

      To Quilter Cheviot Limited (DIFC Representative Office)
      Address 7 & 8, Level 2, Gate Village 7, Dubai International Financial Centre, Dubai, 482062, United Arab Emirates
      DFSA Firm Reference No. F003378
      Notice No. W397/2015

      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
      REP Rule 4.1.2
      (1) A Representative Office must not:
      (a) subject to (2), share an office with another Authorised Firm;
      (b) represent anyone other than itself or a member of its Group; or
      (c) permit any staff member to be an Employee of another Authorised Person.
      (2) A Representative Office may share an office with another Authorised Firm within the same Group.

      CONDITIONS

      None.

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

      Name: Bryan Stirewalt
      Position: Managing Director, Supervision
      DATE OF ISSUE: 1 September 2015

    • W386/2015 AML & GEN — Sanne Group Dubai Limited

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To Sanne Group Dubai Limited
      Address Office 205, Level 2,
      Currency House,
      DIFC, PO Box 482042,
      Dubai, UAE
      DFSA Firm Reference No. F001475
      Notice No. W386/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 21 June 2015

    • W406/2015 AML & GEN — Itau Middle East Limited

      Click herehere to view PDF.

      WAIVER AND MODIFICATION NOTICE

      To Itau Middle East Limited
      Address Suite 305, 3rd Floor, Al Fattan Tower, Currency House,
      PO Box 482034, DIFC, Dubai, UAE
      DFSA Firm Reference No. F000851
      Notice No. W406/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 30 September 2015

    • W396/2015 GEN — The Bank of New York Mellon

      Click herehere to view PDF

      MODIFICATION NOTICE

      To The Bank of New York Mellon
      Address Level 6, Gate Precinct Building 5, Gate District, DIFC, PO Box 506723, Dubai, UAE
      DFSA Firm Reference No. F000706
      Notice No. W396/2015

      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: Bryan Stirewalt
      Position: Managing Director
      DATE OF ISSUE: 18/08/2015

    • W385/2015 AML & GEN — Permal Investment Management Services Limited

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To Permal Investment Management Services Limited
      Address Level 8, The Gate, West Wing, PO Box 506520, DIFC, Dubai, UAE
      DFSA Firm Reference No. F000012
      Notice No. W385/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 1 June 2015

    • W405/2015 GEN — Itau Middle East Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To Itau Middle East Limited
      Address Suite 305, 3rd Floor, Al Fattan Tower, Currency House,
      PO Box 482034, DIFC, Dubai, UAE
      DFSA Firm Reference No. F000851
      Notice No. W405/2015

      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: 30 September 2015

    • W395/2015 AML & GEN — The Bank of New York Mellon

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To The Bank of New York Mellon
      Address Level 6, Gate Precinct Building 5, Gate District, DIFC, PO Box 506723, Dubai, UAE
      DFSA Firm Reference No. F000706
      Notice No. W395/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: Bryan Stirewalt
      Position: Managing Director
      DATE OF ISSUE: 18/08/2015

    • W384/2015 GEN — Permal Investment Management Services Limited

      Click herehere to view PDF

      MODIFICATION NOTICE

      To Permal Investment Management Services Limited
      Address Level 8, The Gate, West Wing, PO Box 506520, DIFC, Dubai, UAE
      DFSA Firm Reference No. F000012
      Notice No. W384/2015

      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: 1 June 2015

    • W394/2015 AML & GEN — Mitsubishi UFJ Securities International plc

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To Mitsubishi UFJ Securities International plc
      Address Level 3, East Wing, The Gate
      Dubai Internaltional Financial Centre
      PO Box 506894, Dubai UAE
      DFSA Firm Reference No. F002623
      Notice No. W394/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 13August 2015

    • W393/2015 GEN — Mitsubishi UFJ Securities International plc

      Click herehere to view PDF

      MODIFICATION NOTICE

      To Mitsubishi UFJ Securities International plc
      Address Level 3, East Wing, The Gate
      Dubai Internaltional Financial Centre
      PO Box 506894, Dubai UAE
      DFSA Firm Reference No. F002623
      Notice No. W393/2015

      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: 13 August 2015

    • W383/2015 GEN — Old Mutual International Middle East Limited

      Click herehere to view PDF

      MODIFICATION NOTICE

      To Old Mutual International Middle East Limited
      Address Office 7 & 8, Level 2, Gate Village 07, The Gate District,
      DIFC, PO Box 482062, Dubai, UAE
      DFSA Firm Reference No. F001255
      Notice No. W383/2015

      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: 26 May 2015

    • W392/2015 GEN — Catlin Middle East Limited

      Click herehere to view PDF

      MODIFICATION NOTICE

      To Catlin Middle East Limited
      Address Office 403, Level 4, Gate Precinct Bldg.3
      Dubai International Financial Centre
      PO Box 31645
      Dubai, UAE
      DFSA Firm Reference No. F002438
      Notice No. W392/2015

      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: 29 July 2015

    • W382/2015 AML & GEN — Old Mutual International Middle East Limited

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To Old Mutual International Middle East Limited
      Address Office 7 & 8, Level 2, Gate Village 07, The Gate District,
      DIFC, PO Box 482062, Dubai, UAE
      DFSA Firm Reference No. F001255
      Notice No. W382/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 26 May 2015

    • W391/2015 AML & GEN — Catlin Middle East Limited

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To Catlin Middle East Limited
      Address Office 403, Level 4, Gate Precinct Bldg.3
      Dubai International Financial Centre
      PO Box 31645
      Dubai, UAE
      DFSA Firm Reference No. F002438
      Notice No. W391/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 29 July 2015

    • W381/2015 AML & GEN — NN Investment Partners B.V Dubai Branch

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To NN Investment Partners B.V Dubai Branch
      Address Unit 2016, Level 2, Al Fattan Currency House, Dubai international Finance Centre, PO Box 506679, Dubai, UAE
      DFSA Firm Reference No. F003105
      Notice No. W381/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 14 May 2015

    • W390/2015 AML & GEN Fulcrum Capital (Dubai) Limited

      Click herehere to view PDF

      WAIVER AND MODIFICATION NOTICE

      To Fulcrum Capital (Dubai) Limited
      Address Office 201, Tower 2,
      Al Fattan Currency House,
      PO Box 506509,
      Dubai, UAE
      DFSA Firm Reference No. F001496
      Notice No. W390/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 27 July 2015

    • W380/2015 GEN — NN Investment Partners B.V Dubai Branch

      Click herehere to view PDF

      MODIFICATION NOTICE

      To NN Investment Partners B.V Dubai Branch
      Address Unit 2016, Level 2, Al Fattan Currency House, Dubai international Finance Centre, PO Box 506679, Dubai, UAE
      DFSA Firm Reference No. F003105
      Notice No. W380/2015

      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: 14 May 2015

    • W389/2015 GEN — Fulcrum Capital (Dubai) Limited

      Click herehere to view PDF

      MODIFICATION NOTICE

      To Fulcrum Capital (Dubai) Limited
      Address Office 201, Tower 2,
      Al Fattan Currency House,
      PO Box 506509,
      Dubai, UAE
      DFSA Firm Reference No. F001496
      Notice No. W389/2015

      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: 27 July 2015

    • W379/2015 MKT — Investment Corporation of Dubai

      Click herehere to view PDF

      MODIFICATION NOTICE

      To Investment Corporation of Dubai
      Address Investment Corporation of Dubai, P.O. Box 333888, Dubai, United Arab Emirates
      DFSA Firm Reference No. F001674
      Notice No. W379/2015

      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
      MKT 5.1.8(2)a
      A Reporting Entity must make the market disclosure required in (1) within the following time periods:
      (a) In relation to its annual financial report, as soon as possible after the financial statements have been approved, but no later than 120 210 days after the end of the financial period;

      CONDITIONS

      None.

      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: Nicholas Alves
      Position: Head of Legal Services
      DATE OF ISSUE: 30 April 2015

    • W378/2015 REP — Macquarie Infrastructure & Real Assets (Europe) Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To Macquarie Infrastructure & Real Assets (Europe) Limited
      Address Unit 110 — 111, Level 1, Gate Village Building 6, DIFC, PO Box 506751, Dubai, UAE
      DFSA Firm Reference No. F002850
      Notice No. W378/2015

      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
      REP Rule 4.1.2
      (1) A Representative Office must not:
      (a) subject to (2), share an office with another Authorised Firm;
      (b) represent anyone other than itself or a member of its Group; or
      (c) permit any staff member to be an Employee of another Authorised Person.
      (2) A Representative Office may share an office with another Authorised Firm within the same Group.

      CONDITIONS

      None.

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

      Name: Errol Hoopmann
      Position: Acting Chief Executive
      DATE OF ISSUE: 21 April 2015

    • W377/2015 GEN — Macquarie Bank Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To Macquarie Bank Limited
      Address Unit 110–111, Level 1, Gate Village Building 6, DIFC, PO Box 506751, Dubai, UAE
      DFSA Firm Reference No. F001369
      Notice No. W377/2015

      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: 15 April 2015

    • W376/2015 AML & GEN — Macquarie Bank Limited

      Click herehere to view PDF.

      WAIVER AND MODIFICATION NOTICE

      To Macquarie Bank Limited
      Address Unit 110–111, Level 1, Gate Village Building 6, DIFC, PO Box 506751, Dubai, UAE
      DFSA Firm Reference No. F001369
      Notice No. W376/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 15 April 2015

    • W375/2015 GEN — Bank of India

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      MODIFICATION NOTICE

      To Bank of India
      Address Unit S1902, Level 19, Emirates Financial Towers, DIFC, PO Box 116470, Dubai, UAE
      DFSA Firm Reference No. F002531
      Notice No. W375/2015

      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 8.2.2
      (1) An Authorised Person must, except as provided under Rule 8.2.3, prepare and maintain all financial statements in accordance with:
      (a) the International Financial Reporting Standards (IFRS); or
      (b) the Generally Accepted Accounting Principles in India (Indian GAAP).
      (2) In this Rule, Indian GAAP means accounting and valuation principles set-out in the guidelines of the Accounting Standards Board of the Institute of Chartered Accountants of India, including the statutory provisions and directives of the Reserve Bank of India.
      GEN 8.6.1 An Authorised Person must, in writing, require its Auditor to:
      (a) conduct an audit of and produce a Financial Statement Auditor's Report on the Authorised Person's financial statements in accordance with the International Standards on Auditing, or the Generally Accepted Auditing Standards (Indian GAAS) issued by the Auditing and Assurance Standards Board of the Institute of Chartered Accountants of India;
      (b) produce a Regulatory Returns Auditor's Report in accordance with the Rules in AUD App1 as relevant;
      (c) produce, if the Authorised Firm is permitted to control or hold Client Money, a Client Money Auditor's Report in accordance with the Rules in AUD App2;
      (d) produce, if the Authorised Firm is permitted to control or hold Insurance Monies, an Insurance Monies Auditor's Report in accordance with the Rules in AUD App3; and
      (e) produce, if the Authorised Firm is permitted to hold or control Client Investments, Arrange Custody or Provide Custody in or from the DIFC, a Safe Custody Auditor's Report in respect of such business as applicable, in accordance with the Rules in AUD App4.

      CONDITIONS

      The modification in respect of the Rules specified above 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 to whom this notice applies 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, Supervision
      DATE OF ISSUE: 31 March 2015

    • W374/2015 CIR & IFR — Emirates REIT Management (Private) Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To Emirates REIT Management (Private) Limited
      Address Office P4, Level 5, Gate Village 4, DIFC, PO Box 482015, Dubai, UAE
      DFSA Firm Reference No. F001310
      Notice No. W374/2015

      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
      CIR

      13.5.5
      A Fund Manager of a REIT may (in respect of the Fund) borrow either directly or through its Special Purpose Vehicle up to 5070% of the total gross net asset value of the Fund.
      IFR

      6.11.5
      A Fund Manager of an Islamic REIT may (in respect of the Fund) borrow either directly or through its Special Purpose Vehicle up to 5070% of the total gross net asset value of the Fund and such borrowings are Shari'a compliant.

      Guidance

      As there are no specific risks that arise by virtue of a Fund being an Islamic Fund, the prudential requirements that apply to a Category 3 firm as set out in the PIB module apply to such Fund Managers. However, if the underlying assets of the Fund are invested in financial products or instruments that are Islamic and have certain features which would raise any prudential risks, it is the responsibility of the Fund Manager to address such risks. The DFSA would provide any additional clarifications regarding such matters upon request.

      CONDITIONS

      None.

      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: Ian Johnston
      Position: Chief Executive
      DATE OF ISSUE: 3 May 2015

    • W373/2015 COB — ES Bankers (Dubai) Limited (In Liquidation)

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      MODIFICATION NOTICE

      To ES Bankers (Dubai) Limited (In Liquidation)
      Address Office 1203, Level 12, The Gate, West Wing, DIFC, PO Box 506627, Dubai, UAE
      DFSA Firm Reference No. F000553
      Notice No. W373/2015

      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
      COB A5.13.1 This section is referred to as the Client Money Distribution Rules and, subject to A5.13.2(a) below, to the extent that these Rules are inconsistent with part 5.52 of the DIFC Insolvency Regulations, and the DIFC Preferential Creditor Regulations, these Rules will prevail.
      COB A5.13.2 Following a Distribution Event, the Authorised Firm must distribute Money in the following order of priorities:
      (a) firstly, to pay the expenses or costs in (i) and (ii) below which have been incurred by the liquidator in ensuring the identification and distribution of Client Money or Client Investments:
      (i) preferential debts of the Company as described in the DIFC Preferential Creditor Regulations; and
      (ii) expenses and remuneration listed in Regulation 5.52 of the DIFC Insolvency Regulations, or in such other order of priority as may be ordered by the DIFC Court pursuant to Articles 65 or 71 of the Insolvency Law 2009 or Regulation 5.54 of the DIFC Insolvency Regulations;
      (ab) secondly firstly, in relation to Client Money held in a Client Account on behalf of Segregated Clients, claims relating to that Money must be paid to each Segregated Client in full or, where insufficient funds are held in a Client Account, proportionately, in accordance with each Segregated Client's valid claim over that Money;
      (bc) thirdly secondly, where the amount of Client Money in a Client Account is insufficient to satisfy the claims of Segregated Clients in respect of that Money, or not being immediately available to satisfy such claims, all other Money held by the Authorised Firm must be used to satisfy any outstanding amounts remaining payable to Segregated Clients but not satisfied from the application of (ab) above;
      (cd) fourthly thirdly, upon resolution of claims in relation to Segregated Clients, any Money remaining with the Authorised Firm must be paid to each Client in full or, where insufficient funds are held by the Authorised Firm, proportionately, in accordance with each Client's valid claim over that Money; and
      (de) fifthly fourthly, upon satisfaction of all claims in (a), (b), (c) and (cd)above, in the event of:
      (i) the appointment of a liquidator, receiver or administrator, or trustee in bankruptcy over the Authorised Firm, payment must be made accordance with the Insolvency Law 2004; or
      (ii) all other Distribution Events, payment must be made in accordance with the direction of the DFSA.
      Guidance

      A Segregated Client would not have a valid claim over Client Money held in a Client Account if that Client Account was not established to hold Client Money for that Client.

      CONDITIONS

      None.

      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: Acting Chief Executive Officer
      DATE OF ISSUE: 19 March 2015

    • W372/2015 MKT — Perusahaan Penerbit SBSN Indonesia III

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      MODIFICATION NOTICE

      To Perusahaan Penerbit SBSN Indonesia III
      Address Ministry of Finance of the Republic of Indonesia
      Frans Seda Building Level 5
      Jalan DR. Wahidin Raya No. 1
      Jakarta 10710 Indonesia
      DFSA Firm Reference No. F003204
      Notice No. W372/2015

      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
      MKT A5.1.1 The following entities are Exempt Offerors:
      (a) Properly constituted governments, government agencies, central banks or other national monetary authorities of the following countries or jurisdictions:
      (i) Organisation for Economic Co-operation and Development (OECD) member countries;
      (ii) member countries of the Gulf Co-operation Council (GCC); or
      (iii) the Emirate of Dubai.
      (b) The International Monetary Fund and the World Bank.
      (c) Any other country jurisdiction, or supranational organisation, or legal person that may be approved as an Exempt Offeror by the DFSA for the purpose of that offer.

      CONDITIONS

      None.

      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: Eric Salomons
      Position: Director, Head of Markets
      DATE OF ISSUE: 18 March 2015

    • W371/2015 CIR — Emirates REIT Management (Private) Limited

      Click herehere to view PDF.

      WAIVER NOTICE

      To Emirates REIT Management (Private) Limited
      Address Office P4, Level 5, Gate Village 4, DIFC, PO Box 482015, Dubai, UAE
      DFSA Firm Reference No. F001310
      Notice No. W371/2015

      THE DFSA HEREBY GIVES NOTICE THAT:

      The Rule specified in Table A does not apply to the above mentioned Person in respect of the Emirates REIT (CEIC) Limited (DFSA reference no. C000012) ("the Fund"). The waiver is issued subject to the conditions specified below in this notice.

      RULES WAIVED

      TABLE A
      Rulebook Module Rule
      CIR Module CIR 8.2.2(2)

      CONDITIONS

      The Waiver is granted on the following conditions:

      1. that Emirates REIT Management (Private) Limited (the "Fund Manager") has in place at all times adequate systems and controls to ensure safe custody of the Real Property forming part of the Fund Property of the Fund, and those systems and controls ensure, as a minimum, that:
      (a) legal title to the Real Property is registered in the name of the Fund;
      (b) title deeds to the Real Property are:
      (i) held in a safe ("the safe") that contains only those title deeds and is located in premises which are directly and fully controlled by the Fund Manager; and
      (ii) subject to clearly documented procedures relating to the manner and circumstances in which the title deeds may be accessed and used;
      (c) only one or more individuals who are designated in writing by the Fund Manager ("designated individuals") and who meet the requirements in (d) are authorised to carry out duties and functions relating to safe custody of the Real Property;
      (d) the designated individuals referred to in (c):
      (i) are the only individuals who are authorised to access the safe;
      (ii) are not required to carry out duties and functions which conflict with their functions and duties relating to safe custody of the Real Property; and
      (iii) have, among them, at least one individual, who has:
      (A) the status of an Authorised Individual;
      (B) overall responsibility for the discharge of duties and functions relating to the safe custody of the Real Property; and
      (C) unrestricted access, including a reporting line, to the Governing Body and the Oversight Committee of the Fund in respect of matters relating to safe custody of the Fund Property; and
      (e) the Oversight Committee of the Fund reviews the adequacy of the systems and controls in place to ensure safe custody of the Real Property and includes a report on the adequacy of those systems and controls in its oversight report under CIR Rule 10.3.13; and
      2. that the Fund Manager ensures that, if the Fund holds property other than Real Property, as permitted by CIR Rule 13.4.4, that other Fund Property is held in accordance with the requirements in CIR Rule 8.2.2(2).

      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 apply to the above mentioned Person and Fund in the form 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 IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

      Name: Ian Johnston
      Position: Chief Executive
      DATE OF ISSUE: 3 May 2015

    • W370/2015 AML & GEN — Rasameel Investment Bank Ltd

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      WAIVER AND MODIFICATION NOTICE

      To Rasameel Investment Bank Ltd
      Address Office 41, Level 3, Gate Village 10, DIFC, PO Box 506878,
      Dubai, UAE
      DFSA Firm Reference No. F000930
      Notice No. W370/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 4 March 2015

    • W369/2015 GEN — Rasameel Investment Bank Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To Rasameel Investment Bank Limited
      Address Office 41, Level 3, Gate Village 10, DIFC, PO Box 506878,
      Dubai, UAE
      DFSA Firm Reference No. F000930
      Notice No. W369/2015

      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: 4 March 2015

    • W368/2015 REP — Morgan Stanley Investment Management Limited

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      WAIVER AND MODIFICATION NOTICE

      To Morgan Stanley Investment Management Limited
      Address Level 7, Precinct 3, DIFC, PO Box 506501, Dubai, UAE
      DFSA Firm Reference No. F002978
      Notice No. W368/2015

      THE DFSA HEREBY GIVES NOTICE THAT:

      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 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
      Rule Modified Text
      REP Rule 4.1.2
      (1) A Representative Office must not:
      (a) subject to (2), share an office with another Authorised Firm;
      (b) represent anyone other than itself or a member of its Group; or
      (c) permit any staff member to be an Employee of another Authorised Person.
      (2) A Representative Office may share an office with another Authorised Firm within the same Group.

      CONDITIONS

      None.

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

      Name: Bryan Stirewalt
      Position: Managing Director, Supervision
      DATE OF ISSUE: 5 February 2015

    • W367/2015 CIR — Gateway Investment Management Services (DIFC) Limited

      Click herehere to view PDF.

      WAIVER AND MODIFICATION NOTICE

      To Gateway Investment Management Services (DIFC) Limited
      Address Level 5, Gate Village 6, DIFC, PO Box 506822, Dubai, UAE
      DFSA Firm Reference No. F001118
      Notice No. W367/2015

      THE DFSA HEREBY GIVES NOTICE THAT:

      1. The Rules specified in Table A herein do not apply to the above mentioned Person in respect of the GP Property Fund (CEIC) Ltd (DFSA reference no. C000029)(the "Fund");
           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 in respect of the the Fund but instead apply as modified in the right hand column of the table.

      RULES WAIVED

      TABLE A
      Rulebook Module Rule
      CIR Module CIR 13.4.4(3)(a)

      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
      CIR 8.2.2.(2)
      (1) In the case of an Investment Company or an Investment Partnership, the Fund Manager is responsible to the Unitholders for the safekeeping of the Fund Property.
      (2) Without removing the generality of the obligation under (1) and subject to (3), a Fund Manager must, in the case of a Fund which is an Investment Company or Investment Partnership:
      (a) delegate the activity of Providing Custody in relation to the Fund Property (other than in respect of any investment in Property Related Assets) to a Service Provider who is an Eligible Custodian; and
      (b) comply with the delegation procedures set out in section 8.12 in relation to such a delegation.
      (3) The requirement in (2) does not apply to:
      (a) a Property Fund investing in Real Property where the Fund Manager has made adequate alternative arrangements that are in accordance with Rule 13.4.2; or
      (b) a Private Equity Fund where the Fund Manager has made adequate alternative arrangements that are in accordance with Rule 13.3.1.

      CONDITIONS

      The waiver and modification in respect of the Rules specified above remains in effect for the duration of the period set out below on condition that the above named Person to whom this notice applies ensures that:

      (a) any investments in Property Related Assets where such assets are not listed and traded on an Exchange are acquired to be held for the medium to long term;
      (b) the Information Memorandum of the Fund discloses:
      (i) information relating to (a) above; and
      (ii) information relating to the waiver and modification provided under this instrument and how any risks associated with investments in Property Related Assets which are not listed and traded on an Exchange are being addressed; and
      (c) the Investment Committee of the Fund, in addition to reviewing investment opportunities for the Fund, make recommendations on the acquisition and disposal of the Fund's investment in Property Related Assets which are not listed and traded on an Exchange; and
      (d) the Fund makes investments in Property Related Assets which are not listed and traded on an Exchange only in reliance on recommendations made by the Investment Committee under (c) above.

      If any one or more of the conditions 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 the form 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 IS ISSUED UNDER ARTICLE 25 OF THE REGULATORY LAW 2004 BY:

      Name: Ian Johnston
      Position: Chief Executive Officer
      DATE OF ISSUE: 26 January 2015

    • W366/2015 AML & GEN — Standard Bank PLC

      Click herehere to view PDF.

      WAIVER AND MODIFICATION NOTICE

      To Standard Bank PLC
      Address Office No 1501, 15th Floor, Currency Tower,
      DIFC, PO Box 482049, Dubai, UAE
      DFSA Firm Reference No. F000028
      Notice No. W366/2015

      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

      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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 January 2015

    • W365/2015 GEN — Standard Bank PLC

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To Standard Bank PLC
      Address Office No 1501, 15th Floor, Currency Tower,
      DIFC, PO Box 482049, Dubai, UAE
      DFSA Firm Reference No. F000028
      Notice No. W365/2015

      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 January 2015

    • W364/2015 AML & GEN — Markel International (Dubai) Limited

      Click herehere to view PDF.

      WAIVER AND MODIFICATION NOTICE

      To Markel International (Dubai) Limited
      Address Office N413, Level 4, North Tower, Emirates Financial Towers, DIFC, PO Box 506914, Dubai
      DFSA Firm Reference No. F002699
      Notice No. W364/2015

      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.
      TABLE A
      Rulebook Module Rule
      AML Chapter 11 Rule 11.2.1(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
      GEN 7.5.2 The Authorised Individuals referred to in Rule 7.5.1(a), and (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: 07 January 2015

    • W363/2015 GEN — Markel International (Dubai) Limited

      Click herehere to view PDF.

      MODIFICATION NOTICE

      To Markel International (Dubai) Limited
      Address Office N413, Level 4, North Tower, Emirates Financial Towers, DIFC, PO Box 506914, Dubai
      DFSA Firm Reference No. F002699
      Notice No. W363/2015

      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: 07 January 2015