The DFSA finalised eight enforcement actions and issued 24 alerts in 2024
DFSA
Latest in DFSA
DFSA
Rokstone opens Dubai office in DIFC
Rokstone handed licence from Dubai Financial Services Authority to operate in DIFC
DFSA
Dubai watchdog DFSA slaps $100,000 fine on marketing firm for misleading financial promotions in DIFC
The regulator imposed a fine of $100,000 (AED367,000) on Vedas Marketing for two violations
DFSA
Dubai watchdog DFSA imposes almost $1mn combined fine on OCS International Finance and its CEO, citing regulatory breaches
The DFSA fined OCS $720,905 (AED2,645,721) and Thurner $186,003 (AED682,631) after applying a 30 percent settlement discount
DFSA
Ripple secures in-principle approval from DFSA to expand cross-border payment services in UAE
Ripple becomes the first blockchain-enabled payment services provider to be licensed by the DFSA
brokerage
Dubai International Financial Centre a hub for brokerage firms
Dubai International Financial Centre has 70 renowned brokerage firms operating in the UAE
Climate finance
DFSA, HKMA ink pact to deepen strategic partnership on sustainable finance
Through this partnership, both authorities will engage in enhanced cross-border dialogue, deepen the exchange of information on recent trends, and conduct joint research and events to further drive progress in this crucial area
DFSA
Dubai’s DFSA reports 22% strong growth in first half of 2024
The total number of regulated entities in the Dubai International Financial Centre (DIFC) has reached 837
DFSA
DFSA slaps $980,020 fine on former Mirabaud banker
The regulator found that Georgiou lacked integrity and was unfit to provide financial services in the DIFC
DFSA
Bermuda’s Relm Insurance strengthens MENA presence through B&F Partners acquisition
Following the acquisition, the company has changed its name to Relm Insurance MENA Ltd
DFSA
Dubai’s Fuse secures DIFC license to tap surging digital remittance demand in UAE
The license will enable the company to cater to the growing demand for remitting money into the UAE
DFSA
Dubai Financial Services Authority sees 25% jump in licensing, registering of companies in 2023
Dubai Financial Services Authority also expects further growth activity in 2024
DFSA
DFSA issues $1.4m fine on R.J O’Brien (MENA) Capital Limited for compliance breaches
Initially, the fine issued was substantially higher ($2,793,403) however, the amount was reduced following an Enforceable Undertaking (EU) offered by the firm
cyber attack
Strengthening cyber resilience: Insights from three years of hosting the DFSA’s threat intelligence platform
The cost of cybercrime is only increasing, so the business community need to be prepared
Abu Dhabi
UAE tax update; Petrol price cuts; Abu Dhabi Airport name change; Saudi Arabia to host 2034 World Cup – 10 things you missed this week
UAE tax rules updated, petrol prices reduced, Abu Dhabi Airport name to change, Saudi Arabia to host World Cup in 2034
DFSA
Dubai firm fined $370,000 for financial service violations
The Dubai Financial Services Authority (DFSA) described FFA Private Bank’s approach towards assessing suspicious trading as “flawed”
DFSA
Fostering transparency through the DFSA’s public register
The register is a valuable tool for potential consumers of financial services, as it is a comprehensive and credible list of all Firms and Individuals authorised to carry out financial services activities in or from the DIFC