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
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Effective Date: September 01, 2021
Keywords: Middle East and Africa, United Arab Emirates, Dubai, Banking, Rulebook, AML/CFT, Dubai FSA
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