CISI UAE FRR CBUAE & FSRA Regulations 2

Question 1

The FSRA's Market Infrastructure Rulebook (MIR) governs:

Accepted Answer

Recognised investment exchanges and clearing houses in ADGM

Answer

The MIR sets out the requirements for Recognised Investment Exchanges (RIEs) and Recognised Clearing Houses (RCHs) operating in ADGM, covering governance, systems resilience, and default procedures.

Question 2

Under CBUAE regulations, banks must appoint a Chief Compliance Officer (CCO) who reports to:

Accepted Answer

The Board or Board Audit Committee

Answer

The CCO must have a direct reporting line to the Board or its Audit/Compliance Committee to ensure independence from business lines and effective oversight of regulatory compliance.

Question 3

The ADGM's Data Protection Regulations are based on which international framework?

Accepted Answer

EU General Data Protection Regulation (GDPR)

Answer

ADGM's Data Protection Regulations are modelled on the EU GDPR, providing strong data protection rights and obligations consistent with international standards, attracting international firms.

Question 4

Which CBUAE regulation addresses the conduct of licensed financial institutions towards retail customers?

Accepted Answer

Consumer Protection Regulation (2020)

Answer

The Consumer Protection Regulation (2020) establishes standards for fair treatment, disclosure, complaints handling, and prohibited practices in dealings with retail financial consumers.

Question 5

CBUAE's capital adequacy framework requires banks to maintain a Capital Conservation Buffer of:

Accepted Answer

2.5% of risk-weighted assets

Answer

The Capital Conservation Buffer of 2.5% of risk-weighted assets must be maintained above the minimum CET1 ratio, and restrictions on distributions apply if a bank falls within this buffer.

CISI UAE FRR Practice Test

CISI UAE FRR Practice Test

CISI UAE FRR CBUAE & FSRA Regulations 2