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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Investment Funds | 11% | - Provisions specific to certain public funds - The local fund |
| Topic 2: Dubai Financial Market (DFM) | 11% | |
| Topic 3: Client Protection | 10% | |
| Topic 4: Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations | 14% | - Federal Law No. 20 of 2018 |
| Topic 5: Trading | 11% | |
| Topic 6: Markets | 11% | - General background - Disclosure and Transparency |
| Topic 7: Licensed Bodies | 14% | - Licensing financial activities - General provisions - Requirements of capital market institutions |
| Topic 8: The Regulatory Infrastructure | 17% | - Codes of Conduct - License categories and requirements (Decision No. 13/Chairman issued 2021) - SCA Resolutions - Corporate Governance (Law No. 3 issued Jan 2020) - Accounting system controls (Decision No. 13/Chairman issued 2021) - Federal Law No. 4 of 2000 - Securities & Commodities Authority (SCA) |
>> Valid CISI UAE-Financial-Rules-and-Regulations Study Notes <<
The CISI UAE-Financial-Rules-and-Regulations certification exam is one of the valuable credentials designed to demonstrate a candidate's technical expertise in information technology. They can remain current and competitive in the highly competitive market with the UAE-Financial-Rules-and-Regulations certificate. For novices as well as seasoned professionals, the CISI UAE Financial Rules and Regulations Exam Questions provide an excellent opportunity to not only validate their skills but also advance their careers.
NEW QUESTION # 50
If the two evaluators for an in-kind share transfer produce different fair value figures, what figure must be used?
Answer: A
Explanation:
In the case of an in-kind share transfer where two evaluators produce different fair value figures, the average of the two amounts is typically used. This approach helps ensure fairness and reduces the risk of biases from individual evaluations. The CISI UAE Financial Rules and Regulations recommend averaging the values to arrive at a reasonable and balanced assessment, especially when the evaluators may have different methods or opinions regarding the valuation of assets. This method is widely accepted as it prevents any single evaluator's assessment from disproportionately influencing the final valuation.
Reference: CISI UAE Financial Rules and Regulations - In-kind Share Transfer Valuation, Section 8.4.2 (2023).
NEW QUESTION # 51
When a firm applies for a licence, it is only necessary to provide an exit strategy plan covering contract termination with an outsourced party if the firm intends to:
Answer: D
Explanation:
The CISI UAE Financial Rules and Regulations imposes additional outsourcing controls when a licence applicant proposes to use cloud computing for servers, databases, applications, storage, networks or similar computing resources. The applicant must demonstrate a clear understanding of cloud-related risks and ensure that prescribed safeguards apply to the outsourced service provider. These include requirements concerning location of servers, confidentiality, annual external auditing of information security, data preservation and backup arrangements. Importantly, the applicant must provide an exit strategy plan dealing specifically with termination of the contract with the outsourced cloud service provider. The strategy must ensure that data and information can be maintained and transferred validly without loss and without breaching applicable laws or regulations. The requirement is consequently associated with cloud computing outsourcing rather than simply with the duration of an outsourcing agreement, the enforceability of a contract, or the fact that a service provider is situated outside the State. Indeed, the CISI rules require the relevant cloud servers to be inside the UAE. Therefore, option A is correct.
NEW QUESTION # 52
A failure to report suspicions, or gross negligence in implementing processes and procedures in relation to suspicions of money laundering, can result in a fine of:
Answer: A
Explanation:
Under Federal Law No. 20 of 2018 and the CISI UAE Financial Rules and Regulations, entities failing to report suspicions of money laundering or exhibiting gross negligence in their anti-money laundering (AML) processes are subject to severe financial penalties. The fine ranges from no less than AED 100,000 and no more than AED 5,000,000. These substantial fines are intended to enforce strict compliance with AML obligations and deter negligence or complicity in money laundering activities. This penalty framework ensures organizations maintain robust internal controls, timely reporting, and staff training to identify and report suspicious activities effectively, thereby protecting the UAE's financial system.
Reference: CISI UAE Financial Rules and Regulations - AML Enforcement and Penalties, Section 8.5.2 (2023).
NEW QUESTION # 53
Customer due diligence measures require management approval if the natural person involved is:
Answer: B
Explanation:
Federal Law No. 20 of 2018 and related CISI UAE Financial Rules specify that enhanced customer due diligence procedures require management approval when the client is a politically exposed person (PEP).
PEPs present higher risks due to their potential access to public funds and influence, increasing vulnerability to corruption or money laundering. Management approval ensures senior oversight in onboarding and monitoring PEP clients, aligning with international AML/CTF best practices. Other conditions such as residency or age do not mandate this elevated level of scrutiny. This regulatory requirement enhances governance and mitigates reputational and compliance risks associated with politically exposed persons.
Reference: CISI UAE Financial Rules and Regulations - AML Regulations, Enhanced Due Diligence, Section 8.1.7 (2023).
NEW QUESTION # 54
During an investigation, what should a licensed body do if it discovers that any of the submitted documents or information are incorrect, misleading or have been changed?
Answer: A
Explanation:
If a licensed body discovers that any submitted documents or information are incorrect, misleading, or have been changed during an investigation, it is required to notify the concerned entity at the Authority or any of the capital market institutions immediately. According to the CISI UAE Financial Rules and Regulations, this immediate disclosure is critical for maintaining market integrity and ensuring that the Authority and other relevant bodies can take appropriate actions to address any issues of non-compliance or fraud. The prompt notification prevents further misrepresentation and safeguards the transparency of the financial markets.
Reference: CISI UAE Financial Rules and Regulations - Investigation and Disclosure Requirements, Section 5.6.2 (2023).
NEW QUESTION # 55
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