DFSA Dubai Financial Services Authority

The Dubai Financial Services Authority (DFSA) regulates financial services carried on in, or from, the Dubai International Financial Centre — a purpose-built financial free zone in Dubai. It is independent of the firms it supervises. Two things it was set up to do: keep the capital market honest, and protect the people who invest in it.

What the DFSA regulates

Asset and wealth management. Fund managers and collective investment schemes.

Banking and credit. Lending institutions, credit activities and financial intermediaries.

Securities and capital markets. Securities trading, conduct in the market, and investment platforms.

Custody and trust services. Firms that hold other people's assets.

Commodities futures and derivatives. International commodities exchanges and derivatives trading.

Islamic finance and insurance. Frameworks for finance structured to Shariah principles, alongside the conventional insurance market.

Financial technology and virtual assets. Fintech firms, cryptocurrencies and investment tokens.

Crowdfunding and digital platforms. Newer ways of raising money, and the protections the people who put money in are owed.

The DFSA also has a say over the firms that support all of this — auditors, consultants and other professional firms operating in the DIFC.

Compliance and enforcement

Anti-money-laundering (AML) and counter-terrorist-financing (CTF) work sits with the DFSA, and it can investigate and act against both firms and individuals it regulates.

It holds a second set of powers delegated by the DIFC Registrar of Companies: it can enforce the DIFC Companies Law, investigate suspected breaches of it, and bring enforcement action.

New products and technology

The DFSA has written rules for crypto-assets, investment tokens, fintech and crowdfunding, with the aim of letting those businesses operate inside a regulated perimeter rather than outside one.

Community programmes

The DFSA runs a corporate social responsibility (CSR) framework. Three parts of it are named.

Bawabaty ("My Gateway") has run since 2014. It introduces young people in the UAE to the financial services industry and to the professional standards expected in it.

The Summer Training Programme places UAE national undergraduates in four parts of the authority: Corporate Affairs, Finance and Administration, Human Resources, and Information Technology.

Community work. Staff take part in local initiatives, from blood donation to packing essentials for labourers.