Publications


Islamic Finance -
Aug 2017

PAL 2018

PCAAUT 2017

CP117

CP118

CP119

CP120

CP121

PAL - DFSA Suitability Client Class

CP130

Market Updates

2020

CMR-JAN 2020

CMR-FEB 2020

CMR-MAR 2020

2019


CMR - Jan
2019

CMR -
Feb 2019

CMR -
Mar
2019

CMR -
Apr
2019

CMR - May 2019

CMR- Jun 2019

CMR- Jul
2019

CMR- Aug
2019

CMR- Sep
2019

CMR- Oct
2019

CMR- Nov
2019

CMR- Dec
2019

2018


CMR - Jan 2018
​​​​​CMR - Feb 2018
CMR - Mar 2018

CMR - Apr 2018

CMR - May 2018

CMR - Jun 2018
CMR - Jul
2018
CMR - Aug
2018

CMR - Sep
2018

CMR - Oct
2018

CMR - Nov 2018

CMR - Dec 2018

2017


CMR - Oct 2017

CMR - Nov 2017

CMR - Dec 2017

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View our latest news below:

29 March 2020 – The DIFC announced that it is launching a new “Business Stimulus Initiative”. With the aim of reinforcing business confidence under the exceptional circumstances of Covid-19, the Initiative provides both corporate and retail clients with five packages which will be in place for the next three months:

1. A waiver of annual licensing fees on new registrations during the next three months;

2. 10% discount of renewal fees for existing license holders in the DIFC that are due to renew their licenses during this period;

3. Deferred payments in respect all properties owned by DIFC Investments for a period up to six months;

4. A reduction on property transfer fees from 5% to 4% for any sale of property (or any part thereof) that took place within the three month period and the transfer is registered with the DIFC Registrar of Properties, at the latest, within 30 days after the expiry of the said three month period;

5. A free movement of labour in and out of the DIFC to other free zones, provided that the employers concerned have the necessary arrangements and contracts in place with their employees.

24th March 2020 - Praesidium assists Firms consider the implications of COVID 19 on their business models. Innovation, technology and adaptability are the new tools for businesses.

23rd March 2020 - DFSA Issues Cybersecurity Alert- COVID 19 has shifted businesses to work remotely leading to Firms to also monitor any increased risks from use of IT.

22 March 2020 – The DFSA announced that it has fined Mr. Ajay Arora, SEO of Morgan Gatsby Limited (MGL), USD 87,500, prohibited him from holding office or being an employee of a regulated DIFC firm, and restricted him from performing any functions in connection with the provision of Financial Services in or from the DIFC.

The DFSA has taken this action following multiple serious breaches of DFSA legislation:

  • Execution of Client transactions without authorization, providing false or misleading information about the transactions to the Clients, or concealing the transactions from the Clients;
  • Engagement in misleading and deceptive conduct towards Clients and the DFSA;
  • Failure to observe high standards of integrity and fair dealing.

Praesidium Advisory Ltd - Response to COVID 19
Please follow the link to view the letter from our CEO - click here

9th March 2020 - The Dubai Financial Services Authority (DFSA) has publishes its Innovation Programme Progress Report.

24 February 2020 - The DFSA issues a fine of USD105,000 for unauthorized business, conducted by the Representative Office, Enness DIFC.
Enness DIFC is authorised by the DFSA to carry on the Financial Service of Operating a Representative Office (a Rep Office) in or from the DIFC. Pursuant to its Licence, Enness DIFC is only authorised to undertake activities related to the marketing of the mortgage products and services offered by its head office, Enness Limited in the UK. However, Enness DIFC carried on the Financial Service of Arranging Credit and Advising on Credit in or from the DIFC without a Licence authorising it to do so. The Decision Notice is a useful reminder to all Firms about the boundary between general marketing and straying into Advisory and Arranging activities.


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.

Praesidium Advisory Ltd is a DIFC Company
Limited by shares CL 2371.
Registered with the DFSA F004515.
Registered address Office 104,
Al Fattan Currency House. DIFC.
PO Box 506676.
VAT TRN 100374474300003

Our Expertise

  • DFSA Authorisation
  • Regulatory Licence Applications
  • Compliance Outsourcing & Oversight
  • AML & CTF Services
  • Training
  • Islamic Finance
  • Corporate & Secretarial Services
  • Business Concierge Services
  • Fund Services
  • ​​​​​​​Non-Regulated Set Up’s

About Us

Praesidium Advisory Ltd (‘Praesidium’) is a client advisory practice integrating business with compliance, risk and controls.​​