Regulatory Alerts2017-07-05
Notice of Amendments to Legislation (05 Jul 2017)
The Dubai Financial Services Authority (DFSA) Board has enacted amendments to the DFSA Rulebook following public consultation on proposed legislative changes. Effective 1 January 2018, the Board replaces the Fees (FER), Prudential – Investment, Insurance Intermediation and Banking (PIB), Prudential – Insurance Business (PIN), and Recognition (REC) modules with updated versions that incorporate stakeholder feedback. These revised instruments are published alongside detailed appendices and a feedback statement on the DFSA website for immediate regulatory compliance.
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05 Jul 2017, 07:07 am
Notice of Amendments to Legislation
Following the ending of the consultation period on a number of proposed legislative changes that were set out in Consultation Paper No. 110 the DFSA Board, after due consideration of consultees’ comments –please refer to the DFSA Feedback Statement on the public comments received-, made amendments to the DFSA Rulebook as described below. Please bear in mind that changes may have been made to the legislation originally proposed in the relevant consultaton papers.
TAKE NOTICE THAT:
The DFSA Board made the following Rulemaking Instruments to come into force on 1 January 2018 :
FEES MODULE (FER) INSTRUMENT (No.207) 2017 , which repeals and replaces the Fees (FER) Module of the DFSA Rulebook with an updated version (see appendix 1 for the detailed amendments);
PRUDENTlAL – INVESTMENT, INSURANCE INTERMEDIATION AND BANKING MODULE (PIB) (No.208) 2017 , which repeals and replaces the Prudential – Investment, Insurance Intermediation and Banking (PIB) Module of the DFSA Rulebook with an updated version (see appendix 2 for the detailed amendments);
PRUDENTIAL – INSURANCE BUSINESS MODULE (PIN) (No.199) 2017 , which repeals and replaces the Prudential –Insurance Business (PIN) Module of the DFSA Rulebook with an updated version (see appendix 3 for the detailed amendments);
RECOGNITION (REC) INSTRUMENT (No.200) 2017 , which repeals and replaces the Recognition (REC) Module of the DFSA Rulebook with an updated version (see appendix 4 for the detailed amendments);
The rule-making instruments mentioned above and the appendices to this notice can be viewed under the “ Amendments to Legislation ” section of the DFSA website and the relevant modules will be replaced on the DFSA website on the date of their coming into force as described above. Earlier versions of the relevant modules are to be found in the archive.
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