29 January 2020- DFSA Issues Consultation Paper 131- Early Intervention, Recovery & Resolution setting out proposals to facilitate intervention and recovery in distress for Firms that Accept Deposits, Provide Credit, Deal in Investments as Principal or Manage an Unrestricted PSIA.
18th November 2019: Crypto-assets same as property, say UK senior judges
A “legal statement” was issued by a panel led by Sir Geoffrey Vos, a senior High Court judge stating that, crypto-assets “have all of the indicia of property”. The view of the senior legal figures was that the “novel or distinctive features possessed by some crypto-assets — intangibility, cryptographic authentication, use of a distributed transaction ledger, decentralisation, rule by consensus — do not disqualify them from being property”.
September 2019: Praesidium Advisory leads on advising RegTech and ComplianceTech financial services businesses. Examining the impact of disruptive technologies in financial services.
8th August 2019: DFSA issues Consultation Paper 127 proposing changes to the suitability regime to remove the full waiver of suitability obligations to Professional Clients. Consultation ends on 10th September 2019.
30th July 2019 - DFSA Sanctions Abraaj group of companies. The DFSA imposed financial penalties of USD 299,300,000 (AED 1,098,431,000) and USD 15,275,925 (AED 56,062,645) on Abraaj Investment Management Limited (AIML) and Abraaj Capital Limited (ACLD), respectively.
Abraaj - US Superseding Indictment 12 June 2019 - listing numerous criminal allegations raising significant issues of governance and oversight.
15 April 2019 – Post - Abraaj, the need for real commitment towards better governance is now unquestionable, this is beyond mere adherence to regulations, but about the integrity of operations.
25th February 2019 - DFSA Fund Protocol Rules to go live facilitating marketing of Domestic funds across the UAE in collaboration with ESCA, ADGM and DFSA.