DIFC’s Collective Investment Funds regime to be enhanced
Felix Shipkevich - April 6, 2010The DFSA proposes to make significant enhancements to the DIFC’s Collective Investment Funds regime to better align it with international trends and practices, thereby making it more attractive to both fund managers and participants in the funds industry.
DFSA ACTION: Damas International Limited
Felix Shipkevich - March 21, 2010The Dubai Financial Services Authority announced remedial action and enforcement sanctions against Damas International Limited, a multinational luxury goods retailer, and its Board of Directors for their failure to exercise appropriate corporate governance over the company and its subsidiaries.
The remedial action includes the resignation of the Damas Board, the appointment of a new Board to [...]
Petition to amend order regarding contracts traded on the DME
Felix Shipkevich - March 15, 2010The CFTC is requesting public comment on a petition submitted by the Clearing House Division of the Chicago Mercantile Exchange and the New York Mercantile Exchange to amend an existing order in connection with contracts traded on the Dubai Mercantile Exchange.
DFSA signs MoU with French securities regulator
Felix Shipkevich - March 7, 2010“As a result of this signing, the DFSA now has a bi-lateral and multi-lateral MoU network with 90 regulators across the globe, which underlines the importance of effective co-ordination and co-operation”, DFSA Chief Executive Paul Koster said.
DFSA Consultation Paper No. 68 Enhanced Corporate Governance Regime for Reporting Entities
Felix Shipkevich - March 2, 2010The DFSA proposes changes to the corporate governance framework applicable to Reporting Entities in the DIFC. This Consultation Paper details proposed changes to the Markets Law 2004 and the Offered Securities Rules.
Amendments to the Rulebook Rules Instrument (No. 69) 2010
Felix Shipkevich - February 25, 2010RM69/2010 Restructuring the DFSA’s Islamic Finance Rules – Rules Instrument (No. 69) 2010
DFSA enters into a MofU with the Qatar Financial Center Regulatory Authority
Felix Shipkevich - February 23, 2010The Dubai Financial Services Authority entered into a Memorandum of Understanding with the Qatar Financial Center Regulatory Authority.
DFSA Consultation Paper on Rules in the Price Stabilization Module
Felix Shipkevich - February 21, 2010The Consultation Paper seeks public comments on the DFSA’s proposals to make changes to certain Rules in the Price Stabilization Module (PRS). The paper also sets out the proposed changes to the PRS. The proposals are aimed at updating the PRS and are the result of an internal review of Rules on Price Stabilization.
DFSA to host Islamic Financial Services Board seminar
Felix Shipkevich - January 26, 2010The Islamic Financial Services Board (IFSB) is organizing its 5th Seminar on the Regulation of Takaful on 22nd and 23rd February 2010, at the Emirates Towers Hotel, in Dubai. The DFSA will be hosting the Seminar.
DFSA Representative Office Regime
Felix Shipkevich - December 24, 2009The application fee for a Representative Office will be $2,000 along with an initial annual fee pro rata for the first year of authorisation. Thereafter, annual fees will be $4,000.
