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INTRODUCTION OF MONEY SERVICES REGIME DUBAI FINANCIAL SERVICES AUTHORITY’S PROPOSAL ON EXPANDING REGULATED FINANCIAL SERVICES HORIZON

The Dubai Financial Services Authority (“DFSA”), the Financial Services Regulator in the Dubai International Finance Centre (“DIFC”), issued the Consultation Paper No. 125 on Proposals for Money Services on 11th November 2019 for public consultation. The Paper seeks to introduce Money Services as one of the regulated activities under DIFC jurisdiction and details the proposals […]

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DRAFT CRYPTOCURRENCY REGULATIONS ISSUED BY THE UAE’S SECURITIES & COMMODITIES AUTHORITY – SEEKS INDUSTRY FEEDBACK

Following the tireless efforts to regulate and develop capital markets operating in the UAE, coupled with increasing trends of virtual currencies across the globe, on 15 October 2019, the Securities and Commodities Authority (“SCA”), the mainland UAE’s financial market watchdog, issued the Draft Crypto Asset Regulations (viz. “The Regulation for Issuing and Offering Crypto Assets” […]

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ADGM’S REGIME FOR ROBO-ADVISORY — A WELCOMING MOVE TOWARDS FINANCIAL INCLUSION

The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) recently issued its regulatory framework (“Framework”) for Digital Investment Managers (also known as “robo-advisors”). The Framework titled “Supplementary Guidance – Authorisation of Digital Investment Management (“Robo – advisory”) Activities” outlines various activities covered under digital investment management, related regulatory permissions required, conditions […]

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