31. The Financial Markets Tribunal

Past version: effective up to 13/09/2008
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(1) The DFSA Board of Directors shall establish a tribunal of the DFSA called the Financial Markets Tribunal.
(2) The DFSA Board of Directors shall appoint:
(a) a person to serve as the president of the Financial Markets Tribunal; and
(b) a panel of members of the Financial Markets Tribunal.
(3) None of the following persons shall be appointed as president or as members of the panel:
(a) the Chairman of the DFSA;
(b) the Chief Executive of the DFSA; or
(c) subject to Article 31(4), any director, officer, employee or agent of the DFSA or of any other agency or body of the DIFC established under Dubai Law.
(4) Board members of the DFSA and members of the Regulatory Appeals Committee may be appointed as members of the Financial Markets Tribunal.
(5) Persons appointed as panel members of the Financial Markets Tribunal shall have relevant qualifications, expertise and experience in the regulatory aspects of financial services and related activities.
(6) The DFSA Board of Directors may reappoint or dismiss the president of the Financial Markets Tribunal.
(7) The president of the Financial Markets Tribunal has power to do whatever he deems necessary for or in connection with, or reasonably incidental to, the performance of the functions of the Financial Markets Tribunal.