dubai

Following consultation on a number of proposed legislative changes that were set out in Consultation Paper No. 124 the Dubai Financial Services Authority Board, after due consideration of consultees’ comments, made amendments to the DFSA Rulebook as described below. The amendments come into force on 1 July 2019.

Titled "PROPOSED CHANGES TO THE DFSA’S ANTI MONEY LAUNDERING, COUNTER-TERRORIST FINANCING AND SANCTIONS REGIME," the consultation paper was issued on 18 February 2018 and the consultation period ends on 24th March 2018.

Notes by Nigel Morris-Cotterill, The Anti Money Laundering Network

The Dubai Financial Services Authority and ASIC yesterday signed a Cooperation Agreement which provides a framework for cooperation to support and understand financial innovation in each jurisdiction.

The DFSA Rulebook and Code of Market Conduct were subject to consultation and, following that, the DFSA Board has concluded the production of revisions to both documents.

The DFSA Board has passed a series of instruments (listed below) to give effect to the new versions. DSFA reminds users that, as a result of the consultation, there may be differences between the final version as published and the original drafts.

A spam-scam, phishing exercise is circulating and it is unusual in that the purported outgoing e-mail address appears genuine.