Dubai FSA Updates Rulebook Modules for Banks in August 2021
The Dubai Financial Services Authority (Dubai FSA) updated Rulebook modules for banks, following consultation on a number of proposed legislative changes that were set out in the consultation papers numbered 135, 137, and 140. The updated modules include General Module, Conduct of Business Module, Glossary Module, Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module, and Prudential Investment, Insurance Intermediation, and Banking Business Module.
The following recently published rulemaking instruments (or notices) for financial firms, including banks, insurers, and asset managers, will come into force on September 01, 2021:
- Glossary Module (GLO) Rule-Making Instruments (No. 298 and 303) 2021, which repeals and replaces the Glossary Module (GLO) of the Dubai FSA Rulebook with an updated version
- General Module (GEN) Rule-Making Instruments (No. 297, 301, and 305) 2021, which repeals and replaces the General Module (GEN) of the Dubai FSA Rulebook with an updated version
- Conduct of Business Module (COB) Rule-Making Instruments (No. 299 and 302) 2021, which repeals and replaces the Conduct of Business (COB) module of the Dubai FSA Rulebook with an updated version
- Representative Office Module (REP) Rule-Making Instrument (No. 300) 2021, which repeals and replaces the Representative Office Module (REP) of the Dubai FSA Rulebook with an updated version
- Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML) Instrument (No. 306) 2021, which repeals and replaces the Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Module (AML) of the Dubai FSA Rulebook with an updated version
- Prudential—Investment, Insurance Intermediation, and Banking Business Module (PIB) Rule-Making Instruments (No. 304 and 307) 2021, which repeals and replaces the Prudential – Investment, Insurance Intermediation and Banking Business Module (PIB) of the Dubai FSA Rulebook with an updated version
- Collective Investment Rules (CIR) Rule-Making Instrument (No. 308) 2021, which repeals and replaces the Collective Investment Rules (CIR) of the Dubai FSA Rulebook with an updated version
Related Links
Effective Date: September 01, 2021
Keywords: Middle East and Africa, United Arab Emirates, Dubai, Banking, Rulebook, AML/CFT, Dubai FSA
Previous Article
EBA Publishes Single Rulebook Q&A Updates in April 2022Related Articles
EBA Clarifies Use of COVID-19-Impacted Data for IRB Credit Risk Models
The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.
EP Reaches Agreement on Corporate Sustainability Reporting Directive
The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).
PRA Consults on Model Risk Management Principles for Banks
The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.
EC Regulation Amends Standards for Calculating Credit Risk Adjustments
The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
HKMA Announces Launch of Data Repository on Sustainable Finance
The Hong Kong Monetary Authority (HKMA) announced that the Green and Sustainable Finance (GSF) Cross-Agency Steering Group has launched the information and data repositories and outlined the progress made in advancing the development of green and sustainable finance in Hong Kong.
BIS Hub Updates Work Program for 2022, Announces New Projects
The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.
EIOPA Issues Cyber Underwriting Proposal, Statement on Open Insurance
The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.
NGFS Report on Integration of G-Cubed Model into NGFS Scenarios
The Network for Greening the Financial System (NGFS) published a report that explores the feasibility of integrating the G-Cubed general equilibrium model into the NGFS suite of models.
US Senate Members Seek Details on SEC Proposed Climate Disclosure Rule
Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)
EIOPA Consults on Review of Securitization Framework in Solvency II
The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.