The report details the DFSA’s achievements in the first half of 2024 and reinforces the DIFC’s status as the leading hub for private banking and asset management. Here are the key statistics:
In 2024, the DFSA has taken a more proactive approach to policy development and has significantly enhanced its regulatory frameworks. Since the beginning of the year, they have issued six consultation papers on emerging financial threats such as crypto regulation, the audit regime, crowdfunding, and credit funds. Additionally, four key reports have been published on firm disclosures, brokerage, private banking, and liquidity coverage ratios.
Internationally, the DFSA have strengthened their relationships with regulatory counterparts across the globe including the Basel Consultative Group, the International Organisation of Securities Commissions and the International Association of Insurance Supervisors, amongst others. They have also participated in over 20 high-profile local and international public speaking events centred on supervisory practices, regulation, financial crime, and sustainability.
Moving into the second half of 2024, the DFSA’s new developments remain dedicated to upholding market integrity and fostering financial and digital innovation in the DIFC and beyond. But what does this mean for your business? With new financial threats emerging and regulatory requirements updating, remaining compliant with the DFSA’s regulations is a top priority.
Penta is the first choice for financial services providers when it comes to regulatory compliance. With an experienced team, ultra-modern equipment, and secure owned and managed data centres, we have everything you need to help you meet – and exceed – your regulatory and compliance requirements. If you want to learn more about how we can help you contact us today.