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The General Module (GEN), GEN/VER71/01-26, forms part of the DFSA Rulebook and provides the general regulatory framework that supports the more specialised DFSA modules. It applies broadly to every Person to whom the Regulatory Law or Markets Law applies, subject to narrower application provisions in individual sections. The document is a consolidated version provided purely as a documentation tool and expressly states that it has no legal effect; the authentic versions are the relevant rulemaking instruments published on the DFSA website.
A central function of GEN is to determine which activities constitute Financial Services for the purposes of the Regulatory Law. An activity is a Financial Service where it is one of the activities specified in GEN and is carried on “by way of business”, subject to the exclusions contained in the Rules. The regulated activities include Accepting Deposits, Providing Credit, Providing Money Services, dealing in and arranging Investments, Managing Assets, Advising on Financial Products, fun...