A firm located in a jurisdiction other than the DIFC can become a member of an Authorised Market Institution only if it has been granted recognition status by the DFSA. Article 37 of the DIFC Markets Law defines a Recognised Member as a person located in a jurisdiction other than the DIFC which has been admitted to, and appears on, the list of recognised members maintained by the DFSA.
A firm outside of the DIFC seeking Recognised Member status from the DFSA must meet the recognition criteria that are set out in the DFSA's Recognition Module.
If you have any queries regarding the applicatino process, please contact the DFSA's Markets team at [email protected].
1. Engage with the relevant AMI about membership prior to submitting your application to the DFSA.
2. Read the Markets Law, the Recognition Module, the Fees Module, and the Regulatory Policy and Process Sourcebook before you begin your application.
3. Complete the REC1 Application for Recognised Member Status application form.
4. Be as comprehensive as possible. If the DFSA needs to request further information, any delay in providing it will have an impact on the time it takes to process your application. Although processing time varies on a case-by-case basis, the DFSA endeavours to process all applications as quickly as possible.
5. Review your application, particularly when using consultants or legal advisers - you are the one who knows your business best. You are also responsible for any information contained in the application.
6. Submit all your documents at once - your signed application and all the requested attachments.
7. Nominate a contact person within your firm to be responsible for managing the application process and to assist the DFSA with any enquiries.
The Recognised Member application fee is USD 1,000. There are no periodic fees for Recognised Members.
A Recognised Member is required to deal with the DFSA in an open and co-operative manner. This includes keeping the DFSA promptly informed of certain significant events that are specified in the Recognition Module. The DFSA relies upon the home Financial Services Regulator to act as the primary regulator of the Recognised Member. The focus of the DFSA’s interest will be on activities that have nexus to the DIFC.
Contact NASDAQ Dubai and DME for enquiries on the admission requirements for membership to these AMIs.
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