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zeekayandHanzo Dev
5c7d0fa655
Lux Partners Limited is not the entity behind this work. Every place the old name stood — copyright lines, site footers, brand config, legal and compliance text — now names the company that actually holds it. lux.fund is the exception and is not renamed to match: that site belongs to Lux Assets Management LLC, a different company, and it says so. Two kinds of line were left for a person rather than rewritten. A dated news item recording that Lux Partners Limited was established in the Isle of Man is a historical fact, and renaming it would falsify the record. And a sentence asserting that the company is domiciled in the Isle of Man is a claim about a jurisdiction, not a name — an Inc or an LLC is not an Isle of Man company, so swapping the name there would assert something untrue. Co-authored-by: Hanzo Dev <[email protected]>
119 lines
4.9 KiB
Go
119 lines
4.9 KiB
Go
// Copyright 2024-2026 Lux Industries Inc. All rights reserved.
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// Use of this source code is governed by the Apache 2.0
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// license that can be found in the LICENSE file.
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package regulatory
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// UAE implements the Jurisdiction interface for UAE federal (SCA) regulation.
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// Covers Securities and Commodities Authority rules applying outside the
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// free zones (DIFC, ADGM) and outside VARA's Dubai crypto scope.
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type UAE struct{}
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func (u *UAE) Name() string { return "United Arab Emirates" }
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func (u *UAE) Code() string { return "AE" }
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func (u *UAE) RegulatoryFramework() string { return "sca" }
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func (u *UAE) PassportableTo() []string { return nil }
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func (u *UAE) Requirements() []Requirement {
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return []Requirement{
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{
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ID: "ae-sca-licence",
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Category: "licensing",
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Description: "SCA licence for securities brokerage, dealing, or advisory in the UAE (outside DIFC/ADGM)",
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Mandatory: true,
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Reference: "Federal Decree-Law No. 32/2021 on Commercial Companies; SCA Board Resolution 3/Chairman/2000",
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},
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{
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ID: "ae-sca-aml",
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Category: "aml",
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Description: "AML/CFT compliance under Federal Decree-Law No. 20/2018 and Cabinet Resolution No. 10/2019",
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Mandatory: true,
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Reference: "Federal Decree-Law No. 20/2018; Cabinet Resolution No. 10/2019",
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},
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{
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ID: "ae-sca-kyc",
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Category: "kyc",
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Description: "Customer identification: Emirates ID, passport, proof of address, source of funds",
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Mandatory: true,
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Reference: "Cabinet Resolution No. 10/2019, art. 4-8",
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},
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{
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ID: "ae-sca-edd",
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Category: "kyc",
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Description: "Enhanced due diligence for PEPs and high-risk relationships",
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Mandatory: true,
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Reference: "Cabinet Resolution No. 10/2019, art. 15-17",
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},
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{
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ID: "ae-sca-str",
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Category: "reporting",
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Description: "Suspicious Transaction Report to UAE Financial Intelligence Unit (FIU)",
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Mandatory: true,
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Reference: "Federal Decree-Law No. 20/2018, art. 15",
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},
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{
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ID: "ae-sca-sanctions",
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Category: "aml",
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Description: "Screening against UAE, UN, and OFAC sanctions lists",
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Mandatory: true,
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Reference: "Federal Law No. 7/2014 on Combating Terrorism; Cabinet Resolution No. 74/2020",
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},
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{
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ID: "ae-fatca-crs",
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Category: "reporting",
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Description: "FATCA/CRS reporting to Federal Tax Authority (FTA)",
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Mandatory: true,
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Reference: "Cabinet Resolution No. 9/2016 (CRS); MoF Guidance Note 2017 (FATCA)",
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},
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}
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}
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func (u *UAE) ValidateApplication(app *ApplicationData) []Violation {
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var violations []Violation
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if app.GivenName == "" {
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violations = append(violations, Violation{RequirementID: "ae-sca-kyc", Field: "given_name", Message: "Full name is required for SCA KYC", Severity: "error"})
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}
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if app.FamilyName == "" {
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violations = append(violations, Violation{RequirementID: "ae-sca-kyc", Field: "family_name", Message: "Family name is required for SCA KYC", Severity: "error"})
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}
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if app.DateOfBirth == "" {
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violations = append(violations, Violation{RequirementID: "ae-sca-kyc", Field: "date_of_birth", Message: "Date of birth is required for SCA KYC", Severity: "error"})
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}
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// Emirates ID for UAE residents
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if (app.Country == "AE" || app.CountryOfTax == "AE") && app.TaxID == "" {
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violations = append(violations, Violation{RequirementID: "ae-sca-kyc", Field: "tax_id", Message: "Emirates ID number is required for UAE residents", Severity: "error"})
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}
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if len(app.Street) == 0 || app.Street[0] == "" {
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violations = append(violations, Violation{RequirementID: "ae-sca-kyc", Field: "street", Message: "Residential address is required", Severity: "error"})
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}
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if app.Email == "" {
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violations = append(violations, Violation{RequirementID: "ae-sca-kyc", Field: "email", Message: "Email address is required", Severity: "error"})
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}
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if app.FundingSource == "" {
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violations = append(violations, Violation{RequirementID: "ae-sca-kyc", Field: "funding_source", Message: "Source of funds is required", Severity: "error"})
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}
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if app.IsPoliticallyExposed == nil {
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violations = append(violations, Violation{RequirementID: "ae-sca-edd", Field: "is_politically_exposed", Message: "PEP status declaration is required", Severity: "error"})
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}
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if app.IsPoliticallyExposed != nil && *app.IsPoliticallyExposed {
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violations = append(violations, Violation{RequirementID: "ae-sca-edd", Field: "is_politically_exposed", Message: "Enhanced due diligence required: customer is a PEP", Severity: "warning"})
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}
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return violations
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}
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func (u *UAE) TransactionLimits() *Limits {
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return &Limits{
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SingleTransactionMax: 500_000, // AED 500k
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DailyMax: 2_000_000, // AED 2M
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MonthlyMax: 10_000_000,
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CTRThreshold: 55_000, // AED 55k (~USD 15k equivalent, Cabinet Resolution 10/2019)
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TravelRuleMin: 3_675, // AED 3,675 (~USD 1k FATF travel rule)
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Currency: "AED",
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}
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}
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