- in the category: Regulatory Insights
The ADGM Data Protection Regulations 2021 (“DPR”) are now in force and are the most comprehensive yet. Whilst the extent of the requirements may differ from firm to firm, this high-level checklist will help you to get started.
The Abu Dhabi Global Market (“ADGM”) has introduced the Data Protection Regulations 2021 (“DPR”). This article looks at the key points that your firm should be aware of.
CCL Collates Industry Response to DFSA Consultation Paper on the Regulation of Retail OTC Leveraged Products
In response to the release of CP135, CCL formed the OTC Derivative Broker Forum which is made up of existing OTC Derivative DIFC Firms and OTC Derivative Firms considering establishing in the DIFC. CCL’s role in the Forum is to administer meetings and act as its spokesperson and in doing so, documented the Forums response to CP135 which was subsequently submitted to the DFSA.
The DIFC Data Protection Law 2020 (“DPL”) will be in full force on 1st October 2020 following its enactment on...
The DIFC are front runners in the region when it comes to the proposal to introduce data protection laws more aligned with the GDPR and ultimately, this is the way that things are going to progress. Whether you are a firm in the DIFC or elsewhere in the region, it is best to take the proposed legislation on board now rather than later.
On 30th April 2019, Cabinet of Ministers’ Resolution No.31 of 2019 was passed concerning Economic Substance Regulations (“ESRs”) in the UAE. Thi s article provides details of the steps that firms in the DIFC need to take.
The DFSA has announced its own initiative to provide significant assistance and regulatory relief for the financial services community in the DIFC. This initiative is aimed at helping new applicants to complete the application process as well as giving a certain amount of relief from some of the DFSA regulatory requirements to existing DFSA regulated firms.
The ADGM has announced its business support measures for all ADGM registered entities. These initiatives aim to assist in not only safeguarding the health and safety of the ADGM community but also in mitigating the economic impact posed by the COVID-19 global outbreak and come into immediate effect with many of them lasting for up to 12 months. This update sets out the key aspects of the initiative and who will benefit from them.
The DIFC Authority has announced its “business stimulus initiative” to assist companies with the financial challenges posed by the COVID-19 global outbreak. This update sets out the key aspects of the initiative and who will benefit from them.
Further to the thematic review findings, in August 2019 the DFSA issued CP No. 127 to make several amendments to the DFSA’s Rulebook to strengthen the current requirements relating to suitability, specifically in relation to the limitation of suitability assessments for Professional Clients. Proposed changes came into effect on 1 January 2020.
On 30th April 2019, Cabinet of Ministers’ Resolution No.31 of 2019 was passed concerning Economic Substance Regulations (“ESRs”) in the UAE. On 12th September 2019, the UAE Ministry of Finance issued a guidance document clarifying certain aspects of the ESRs. Here, we answer the key questions regarding these regulations.