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  • [ L ] [ L ] [Large Exposure—Long-Term Insurance Liabilities]

    • Large Exposure

      An Exposure, whether in an Authorised Firm's Non-Trading Book or Trading Book, or both, to a Counterparty or Group of Closely Related Counterparties or a Group of Counterparties Connected to the Authorised Firm which in aggregate is equal to or exceeds 10% of the Authorised Firm's Tier 1 Capital.

       

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM295/2021 (Made 24th February 2021). [VER50/04-21]

       

    • Licence

      A Licence granted by the DFSA under Chapter 2 of Part 3 of the Regulatory Law 2004.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Licence Endorsement

      an endorsement made by the DFSA on a Licence that permits an Authorised Person to carry on an activity prescribed under Article 44 of the Regulatory Law 2004.

      [Added] DFSA RM143/2014 (Made 21st August 2014). [VER31/06-14]

    • Licensed Person

      In relation to a Passported Fund, a Person who is licensed or otherwise authorised by the Home Regulator to Promote Funds.

      Derived from DFSA RM236/2019 (Made 20th February 2019). [VER43/02-19]

    • Licensing Requirements

      The requirements set out in AMI section 7.2 in relation to the granting of a Licence to an Authorised Market Institution.

      [Added] DFSA RM19/2005 (as from 19th April 2005). [VER3/04-05]

    • Limited Liability Partnership

      A partnership incorporated under the Limited Liability Partnership Law 2004 or under the law of a country or territory outside the DIFC.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Liquidity Risk

      The risk of loss to an Authorised Firm as a result of inability to meet its obligations as they fall due.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • List

      The Official List of Securities.

      [Added] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Listed Fund

      A Collective Investment Fund which has been admitted to the Official List of Securities.

      [Added][VER4/08-05]
      [Amended] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Listed Securities

      Any Securities which have been admitted to the Official List of Securities.

      [Added] DFSA RM91/2012 (Made 14th June 2012). [VER26/06-12]

    • Lloyd's

      The society established in the United Kingdom and known as Lloyd's.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Lloyd's Underwriter

      An underwriting member of Lloyds.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Loan Crowdfunding

      Has the meaning given in GEN Rules 2.29.1(2) and (3).

      [Added] DFSA RMI205/2017 (Made 14th June 2017). [VER38/08-17]

    • Loan Crowdfunding Operator

      A Person who is authorised under a Licence to Operate a Loan Crowdfunding Platform.

      [Added] DFSA RMI205/2017 (Made 14th June 2017). [VER38/08-17]

    • Loan Crowdfunding Platform

      An electronic platform or a facility referred to in GEN Rule 2.29.1(2) or (3).

      [Added] DFSA RMI205/2017 (Made 14th June 2017). [VER38/08-17]

    • Local Authorities

      Government or municipal authorities, which do not operate at a national level.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Long-Term Insurance

      A Contract of Insurance of a type specified in GEN Rule A4.1.2, expressed to be in force for more than one year, where under the terms of the contract any of the following conditions exists:

      (1) the payment of the whole or part of the benefits is dependent upon the termination or continuation or human life;
      (2) the payment of any part of the premiums is dependent upon the termination or continuation of human life;
      (3) the benefits under the contract include payment of a sum on marriage or on the birth of a child; or
      (4) the contract is a permanent health insurance contract.

      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Long-Term Insurance Business

      The business of Effecting Contracts of Insurance or Carrying Out Contracts of Insurance, where the Contracts of Insurance are contracts of Long-Term Insurance.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Long-Term Insurance Fund

      A fund in respect of Long-Term Insurance Business established and maintained in accordance with PIN chapter 3.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]

    • Long-Term Insurance Liabilities

      Liabilities of an Insurer arising under or associated with contracts of Long-Term Insurance, entered into by it as insurer or cedant, including liabilities of the kinds referred to in Rules PIN 5.6.6 and PIN 5.6.7.


      Derived from DFSA RM12/2004 (Made 16th September 2004). [VER1/09-04]
      [Amended] DFSA RM187/2016 (Made 7th December 2016). [VER37/02-17]