| This Notice was varied on 4th May 2005 and was replaced by Notice No. W 03/04 [V]. |
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| To | Ray Ferguson, Senior Executive Officer |
| Firm | Standard Chartered Bank |
| Licence No. | 10003 |
| Address | PO Box 999, Dubai, United Arab Emirates |
| Date | 20th September 2004 |
NOTICE OF RULE WAIVER
This waiver is granted by the DFSA under Article 25 of the Regulatory Law 2004.
RULES WAIVED
The DFSA directs that the Rules contained in the following sections in the PIB module of the DFSA Rulebook shall not apply to the Authorised Firm:
CHAPTER 1 – GENERAL REQUIREMENTS
• Section 1.2 – Financial resources
• Section 1.4 – The trading book
CHAPTER 2 – BASE CAPITAL REQUIREMENT
• All sections
CHAPTER 4 – CREDIT RISK
• Section 4.3 – Credit Risk in the non-trading book
• Section 4.4 – Counterparty risk in the Trading Book
• Section 4.5 – Concentration risk
• Section 4.6 – Collateral
• Section 4.7 – Netting
• Section 4.8 – Securitisation
• Section 4.9 – Credit derivatives
• Section 4.10 – Application of Credit Risk methodology to Authorised Firms engaging in Islamic financial business
CHAPTER 5 – MARKET RISK
• Section 5.3 – Use of internal Market Risk models
• Section 5.4 – Interest rate risk capital requirement
• Section 5.5 – Equity risk capital risk requirement
• Section 5.6 – Foreign Exchange risk capital requirement
• Section 5.7 – Commodities risk capital requirement
• Section 5.8 – Option risk capital requirement
• Section 5.9 – Securities Underwriting capital requirement
CHAPTER 7 – Group Risk
• Section 7.3 – Financial Group Capital Requirements and financial Group capital resources
• Section 7.4 – Financial Group Concentration Risk limits
All Rules refer to PIB version [PIB/VER1/255/09-04]
CONDITIONS AND RESTRICTIONS
These waivers shall have effect subject to the following condition:
• submission by the Authorised Firm of a copy of the Financial Services Authority’s (FSA) Section D (Capital Adequacy Summary) every six months to the DFSA from the firm’s most recent quarterly reporting statement to the FSA; to be submitted to the DFSA within ten days of the due date to the FSA.
| EFFECTIVE DATE | This notice come into effect on 20th September 2004 |
| DURATION | Until further notice |
| WAIVER REFERENCE | W 03/04 |
INTERPRETATION
The interpretation of the Rulebook and defined terms apply to this waiver in the same way as they apply to the Rulebook.
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Acting Chief Executive
