CISI UAE FRR DIFC & ADGM Regulatory Environment 6

Question 1

Under DFSA regulations, a 'Passported Firm' from another recognised jurisdiction can:

Accepted Answer

Conduct specified financial services in the DIFC under a streamlined notification process

Answer

Recognised passporting arrangements allow firms from jurisdictions with equivalent regulatory standards to provide specified services in the DIFC following a streamlined notification, reducing duplication of full authorisation.

Question 2

The ADGM's 'Courts' can enforce judgments in the UAE onshore courts through:

Accepted Answer

Recognition and enforcement arrangements between ADGM Courts and UAE federal courts

Answer

Recognition and enforcement arrangements enable ADGM Court judgments to be recognised and enforced through UAE federal courts, making ADGM Court decisions practically effective across the UAE.

Question 3

Under DFSA's conduct rules, a 'cold calling' prohibition means:

Accepted Answer

Unsolicited real-time communications to retail clients for investment products are restricted

Answer

Unsolicited real-time communications (calls, visits) to retail clients promoting investment products are restricted under DFSA conduct rules to protect consumers from high-pressure sales tactics.

Question 4

The DIFC's 'Arbitration Centre' (DIAC) provides:

Accepted Answer

International commercial arbitration services under DIAC Rules based on UNCITRAL Model Law

Answer

The DIFC-LCIA Arbitration Centre (now DIAC) provides international commercial arbitration under its rules inspired by international standards, offering an attractive dispute resolution forum for parties choosing DIFC as their arbitral seat.

Question 5

Under ADGM regulations, 'digital investment management' (robo-advisory) services are:

Accepted Answer

Regulated financial services requiring FSRA authorisation under the Investment Management category

Answer

Robo-advisory and digital investment management services constitute regulated investment management activities under ADGM rules regardless of whether delivery is automated, requiring FSRA authorisation.

CISI UAE FRR Practice Test

CISI UAE FRR Practice Test

CISI UAE FRR DIFC & ADGM Regulatory Environment 6