PIB 3.7.2

An Authorised Firm must calculate its Expenditure Based Capital Minimum as:

(a) subject to (b), in the case of an Authorised Firm that holds Client Assets or Insurance Monies or Acts as the Administrator of an Employee Money Purchase Scheme, 18/52;
(b) in the case of an Insurance Intermediary which holds Insurance Monies but not Client Assets, 9/52;
(c) in the case of an Authorised Firm in Category 2, 3A, 3B or 3C (unless it holds Client Assets or Insurance Monies or Acts as the Administrator of an Employee Money Purchase Scheme), 13/52;
(d) in the case of an Authorised Firm in Category 3D, 9/52; or
(e) in the case of an Authorised Firm in Category 4, (unless it holds Insurance Monies), 6/52;

of the Annual Audited Expenditure, calculated in accordance with PIB Rule 3.7.3.

Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]
[Amended] DFSA RM183/2016 (Made 19 June 2016). [PIB/VER25/08-16]
[Amended] DFSA RMI263/2019 Made 18th December 2019). [VER35/01-20]
[Amended] DFSA RMI270/2020 (Made 26th February 2020). [VER36/04-20]