DFSA Client Money and Assets Workshop
Overview
The protection of Client Money and Assets is of the utmost importance to the Dubai Financial Services Authority (DFSA), reflecting the regulator’s interest in consumer protection.
The basic obligation set out in the GEN modules - 'Where an Authorised Firm has control of or is responsible for assets or money belonging to a customer which it is required to safeguard, it must arrange proper protection for them in accordance with the responsibility it has accepted” - is supplemented by detailed rules.
This Client Money and Assets Workshop is designed to provide a comprehensive overview of the DFSA’s rules, with a focus on their practical application. It is intended to develop participants’ understanding of this vital element of the DFSA’s regulatory framework, as well as acting as a refresher for specialist staff.
Who is this for?
This workshop is relevant for all staff who are involved in, or responsible for, their firm’s arrangements for holding client money and assets.
Learning Outcomes
After attending this course, participants will be able to:
- Understand the significance of the Client Assets and the risks associated with failure to comply
- Understand the key elements of the DFSA’s Client Assets regime, including the principal rules relating to client money and assets and the obligations relating to governance and oversight
- Understand where their own role fits within this framework
Course Details
- The importance of Client Money and Assets
- The regulatory framework
- When things go wrong
- Fundamentals of client money
- The need for segregation
- Client money controls
- Identifying client money, including exemptions
- Client bank accounts and acknowledgement letters
- Reconciliations (internal and external)
- Safe custody controls
- Reconciliations and checks
- Governance of Client Assets, including reporting and audits
- Insolvency and resolution packs
Delivery
Have the flexibility to deliver your In-House training in-person by one of our trainers at your premises, or virtually via Zoom, Teams or Webex.
Find out more about your Virtual or In-Person training experience below.
Virtual Delivery
Our virtual training courses are designed to be every bit as engaging as our in-person courses. To achieve this, our trainers use market-leading technology and a range of training techniques to ensure high levels of interaction with participants. Courses include the use of:
- Virtual ‘break-out’ rooms: participants are divided into virtual rooms to facilitate small group discussion.
- Polling: multiple-choice questions, answered anonymously, allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to highlight the practical application of theoretical knowledge.
- Messaging: participants can submit questions and comments, either to the whole group or privately to the trainer.
Additional Benefits:
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Recording: public course participants have the option to access a recording of the course for one month after the course. In-House clients also have the option to record their training for an additional fee.
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On-going Q&A: public course participants can access an ongoing Q&A facility allowing them to ask questions relating to the course.
In-Person Delivery
Our in-person training is delivered face to face at your offices, and includes:
- ‘In-the-moment’ questions & discussions: questions through conversations allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to explore practical application of theoretical knowledge.
- Q&A: participants can ask questions during training, either to the whole group or privately to the trainer.
