SCA Board of Directors’ Decision No. 48/R.M. of 2023 On the Executive Controls of Some Provisions Stipulated in the Regulations Manual of the Financial Activities issued under the Chairman of Authority’s Board of Directors’ Decision No. 13/R.M. of 2021

Chief Executive Officer, having reviewed:

- Federal Law No.4 of 2000 concerning the Emirates Securities and Commodities Authority and Market, as amended,

- Cabinet Decision No. 13 of 2000 concerning the Regulation as to the Functioning of the Securities and Commodities Authority, as amended,

- Chairman of the Authority’s Board of Directors’ Decision No. 13/R.M. of 2021  on the Regulations Manual of the Financial Activities and Status Regularization Mechanisms,

- And based on what is required for public interest,

Resolved:

Article 1

In implementation of the second chapter/ fourth section/ clause 21/ first/13/B of the regulations manual of the financial activities, and without prejudice to the other outsourcing provisions, the licensed entity shall verify that the employee assuming the outsourcing tasks at the outsourced entity, while performing his task for more than one licensed entity of the same category, meets the following cond...