Entire Section

  • Exclusions

    • GEN 2.28.2

      A Person does not carry on the activity of Arranging Credit under GEN Rule 2.28.1(1)(a) if that Person enters, or is to enter, into the transaction to Provide Credit. This exclusion does not apply in the case of a branch which makes arrangements for its head office, or any other branch of the same legal entity as itself, to enter into a transaction as provided under GEN Rule 2.28.1(1)(a).

      Derived from DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]

    • GEN 2.28.3

      A Person does not make arrangements referred to in GEN Rule 2.28.1(1)(a) merely by providing means by which one party to a transaction is able to communicate with other such parties.

      Derived from DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]

    • GEN 2.28.4

      A Person does not carry on the activity referred to in GEN Rule 2.28.1(1)(a) by making arrangements under which another Person accepts or is to accept an instrument creating or acknowledging indebtedness in respect of any loan, credit, guarantee or other similar financial accommodation which he or his principal has made or provided.

      Derived from DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]

    • GEN 2.28.5

      A Person does not Arrange Credit merely by making arrangements having as their sole purpose the provision of finance to enable a Person to buy, sell, subscribe for or underwrite Investments.

      Derived from DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]

    • GEN 2.28.6

      A Person does not carry on the activities in GEN Rule 2.28.1(1)(a) or (b) if the activity:

      (a) is carried on in the course of Providing Legal Services or Providing Accountancy Services, which does not otherwise consist of the carrying on of Financial Services;
      (b) may reasonably be regarded as a necessary part of any other services provided in the course of Providing Legal Services or Providing Accountancy Services; and
      (c) is not remunerated separately from the other services.
      Derived from DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]

    • GEN 2.28.7

      A Person does not carry on the activity in GEN Rule 2.28.1(1)(b) by giving advice in any newspaper, journal, magazine, broadcast service or similar service in any medium if the principal purpose of the publication or service, taken as a whole, is neither:

      (a) that of giving advice of the kind mentioned in GEN Rule 2.28.1(1)(b); nor
      (b) that of leading or enabling Persons to enter into a particular Credit Facility.
      Derived from DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]

      • GEN 2.28.7 Guidance

        The Guidance relating to the exclusions from the activity of 'Arranging Deals in Investments' is generally relevant for the exclusions from 'Arranging Credit', although the activities relate to 'credit' in this context, instead of 'Investments'. To the extent relevant, a reference to an Investment in that Guidance should be read as 'credit' for the purposes of Guidance on exclusions from 'Arranging Credit'.

        Derived from DFSA RM184/2016 (Made 7th December 2016). [VER38/02-17]

    • GEN 2.28.8

      A Crowdfunding Operator does not Arrange Credit to the extent that it Operates a Loan Crowdfunding Platform.

      [Added] DFSA RMI201/2017 (Made 14th June 2017). [VER40/08-17]