The DFSA Rulebook Conduct of Business Module (COB)

COB/VER48/03-25

1. INTRODUCTION 

1.1 Application 

1.1.1 This module (COB) applies to every Authorised Firm with respect to the carrying on, in or from the DIFC, of any: 

(a) Financial Service; or 

(b) activity which is carried on, or held out as being carried on, in connection with or for the purposes of such a Financial Service; 

except to the extent that a provision of COB provides for a narrower application.   

1.1.2 COB does not apply to a Representative Office.  

Guidance 

An Authorised Firm may be able to rely on the Transitional Rules in section 2.6 for the purposes of meeting the client classification requirements in chapter 2. 

1.2 Interpretation 

1.2.1

A reference in this module to a “financial product” includes, without limiting the generality of that term, a Crypto Token. 

2. CLIENT CLASSIFICATION 

2.1 Application 

2.1.1 (1) This chapter applies, subject to Rule 2.1.2, to an Authorised Firm, which carries on, or intends to carry on, any Financial Service with or for a Person. 

(2) For the purposes of this chapter, a Person includes a Fund, pension fund or trust, even if it does not have a separate legal pers...