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 in relation to applicable rules under the DFSA’s regulatory framework along with proposed changes, reasoning for the applicability and restrictions that shall apply.
For further reading on the introduction of money services regime, click here
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