Entire Section

  • GEN 2.29.2

    A Person does not carry on the activity referred to in GEN Rule 2.29.1 if the Person who carries on those activities is itself the sole lender or the sole investor on the electronic platform.

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

    • GEN 2.29.2 Guidance

      The activity in GEN Rule 2.29.1 does not cover an electronic platform where the operator itself is the sole lender providing the loans e.g. if it is a credit provider and provides an electronic facility for use by its clients. Similarly, it does not apply to a platform where the operator is the sole investor. However, if the operator itself lends or invests, it is likely to be carrying on the Financial Service of Providing Credit or Dealing in Investments as Principal, and will require a separate authorisation for that activity.

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