Supervision refers to overseeing of AIFC Regulations and Rules. AFSA’s Regulatory Office performs effective ongoing supervision of Authorised Market Institutions and associated individuals.
AFSA’s Regulatory Office adopts a risk-based approach to the regulation and supervision of all regulated firms in order to concentrate its resources on the mitigation of risks to its objectives. AFSA’s Regulatory Office works with regulated entities to identify, assess, mitigate and control risks in a proportionate and appropriate manner.
AFSA uses the following Supervisory Tools:
Supervision:
An Authorised Market Institution must deal with AFSA in an open and co-operative manner and keep AFSA promptly informed of significant events or activities, wherever they are carried on, relating to the Authorised Market Institution of which AFSA would reasonably expect to be notified, including but not limited to, any matters that might impair the Authorised Market Institution’s ability to discharge its regulatory functions and obligations.
For detailed information regarding supervision by AFSA, click here.
General application of Authorised Market Institution (AMI) Rules
AFSA is tasked with the supervision of all Authorised Market Institutions and conducts this supervision according to the AIFC Authorised Market Institution (“AMI”) Rules.
An AMI is an AIFC Centre Participant which has been licensed by AFSA to carry on one or more Market Activities.
According to the General Rules, the following market activities are required to be authorised by AFSA in the AIFC:
For the Authorised Market Institution, the following basic concepts are provided by AMI Rules:
For detailed information please see AMI Rules.
