The Financial Free Zone Law 2

Advising on insurance, acting as agent on behalf of another person that wants to buy or sell

Insurance is insurance intermediation. It includes:

• advice is given in publications such as newspapers, journals,or other media, the purpose of

  which is not that of giving advice.

• Providing the means by which one party to a transaction is able to communicate with other

  such parties

• arranging to purchase insurance for another person either as a principal or agent

• marketing.

Insurance management excludes:

• Providing management services functions for an insurer.

• Exercising managerial functions for an insurer.

• Administration and underwriting for an insurer.

• The person who is an employee of the insurer.

In an alternative trading system, which of the following is excluded.

• over-the-counter (OTC) trading takes place

• Order routing systems to handle orders happens.

• offers to buy or sell investments are made or accepted

• buyers and sellers can negotiate the purchase or sale of investments.

Providing trust services exclude:

• generic advice on the desirability of using a trust

• arranging for any person to act as a trustee

• providing trust administration services

• Creating, acting as trustee.

Providing fund administration excludes:

• valuing of assets and performing net asset value calculations

• performing anti-money laundering requirements

• communicating with participants, the fund, the fund manager

• acts as registrar to a market by recording details of matched trade

A person operate an ATS (alternative trading system ) if he as the operator of the facility:

• Arranges contracts that can be entered into for the transfer of ownership

• is a counterparty to every transaction effected on the facility

• acts as a central counterparty accepting the risk of default

• is an AMI

The marketing of one or more financial services or financial products which are offered in DIFC

excludes:

• providing information on one or more financial products or services;

• engaging in promotions in relation to these financial products or services;

• receiving and transmitting orders in relation to a financial product

• making introductions of referrals in connection with the offer of financial products or

  services.

Chose the right combination for definition of financial product:

• investment, training, PSIA, accountancy

• investment, credit facility, deposit, training,

• deposit, training, PSIA, accountancy

• investment, credit facility, deposit, PSIA

Following Persons are not allowed to make financial promotions in or from the DIFC:

• they are licensed and supervised by a financial services regulator in the UAE

• a recognised body or external fund manager

• are a reporting entity making a financial promotion to discharge their duties

• Legal or accounting services firm.

A communication is not an exempt financial promotion if it is:

• directed at professional clients;

• made to a person in the DIFC as the result of a solicited request by this person;

• made or issued by or on behalf of a government or non-commercial government entity; or

• made in the DIFC by a person in the course of providing legal or accountancy services and is

  part of the provision of these services.