W 063/07 GEN — The Bank of Tokyo Mitsubishi UFJ, Ltd
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MODIFICATION NOTICE
| To | The Bank of Tokyo Mitsubishi UFJ, Ltd |
| Address | Office No. 607, 6th Floor Union House Building PO Box 43659, Dubai United Arab Emirates |
| DFSA Firm Reference No. | F000470 |
| Notice No. | W063/2007 |
THE DFSA HEREBY GIVES NOTICE THAT:
The Rules specified in the table herein do not apply to the above mentioned Person in the form appearing in the Rulebook but instead apply to that Person in the modified form prescribed in that table below.
This notice is issued by the DFSA under Article 25 of the Regulatory Law 2004.
Effective date: This notice comes into effect on 30th July 2007 and expires on 30th May 2009 or the date on which any Rule specified herein is amended, which ever is the earlier.
RULES MODIFIED
The Rules listed in the left hand column of the table below are modified as shown in the right hand column of the table. In this table, underlining indicates new text and striking through indicates deleted text.
The version of Rules to which this notice relates is GEN/VER15/07-07.
| Rule | Modified Text |
| GEN 8.2.1 | (1) An Authorised Person must prepare and
maintain all financial accounts and statements
in accordance with:
(a) the International Financial Reporting
Standards (IFRS); or
(b) the generally accepted accounting
principles of Japan (Japanese GAAP)
unless (2) or (3) applies.
(2) If an Authorised Firm is an Islamic Financial
Institution it must prepare and maintain all
financial accounts and statements in
accordance with the accounting standards of
the Accounting and Auditing Organisation for
Islamic Financial Institutions (AAOIFI).
(3) If an Authorised Person operates an Islamic
Window it must prepare and maintain all
financial accounts and statements in
accordance with the IFRS or Japanese GAAP,
as supplemented by AAOIFI FAS 18 in respect
of its Islamic Financial Business.
(4) In this rule Japanese GAAP means accounting
and valuation principles in accordance with the
guidelines of the Accounting Standards Board
of Japan, including the statutory provisions and
directives of the Financial Services Agency of
Japan.
|
| GEN 8.6.1 |
An Authorised Firm or Authorised Market Institution,
as applicable, must in writing require its auditor to:
(a) conduct an audit of the Authorised Person’s
accounts in accordance with the requirements
of the relevant standards published by:
(i) the International Auditing and Assurance
Standards Board (IAASB) or the Japanese
Auditing Standards in respect of conventional
financial business; and
(ii) the Accounting and Auditing Organisation
for Islamic Financial Institutions (AAOIFI) in
respect of any Islamic Financial Business
undertaken; (b) produce a report on the audited accounts
which states:
(i) whether, in the auditor’s opinion, the
accounts have been properly prepared in
accordance with the requirements imposed
by this chapter;
(ii) in particular, whether the accounts give a
true and fair view of the financial position of
the Authorised Person for the financial year
and of the state of the Authorised Person’s
affairs at the end of the financial year end;
and
(iii) any other matter or opinion relating to the
requirements of this chapter; (c) produce an Auditor’s Annual Report which
states whether:
(i) the auditor has audited the
Authorised Person’s annual financial
statements in accordance with the IAASB or
Japanese Auditing Standards or AAOIFI in
respect of Islamic Financial Business;
(ii) the auditor has carried out any other
procedures considered necessary, having
regard to the IAASB or Japanese Auditing
Standards
(iii) the auditor has received all
necessary information and explanations for
the purposes of preparing this report to the
DFSA;
(iv)………………………………………and so
on up to and including
(h)……………………………… |
CONDITIONS
The modifications in respect of the Rules specified above remain in effect for the duration of the period set out above on condition that:
None.
INTERPRETATION
The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.
Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.
This notice was issued by:
| Name : | David Knott |
| Position : | Chief Executive |
| Date : | 30th July 2007 |