The Dubai Financial Services Authority (DFSA) supervises various financial institutions, including entities from the banking, insurance, and wealth management sectors. All firms, including banks, are subject to periodic on-site risk assessments, the frequency of which is determined by the risk profile of the entity. Such inspections will generally include evaluation of the following areas:
The DFSA has an express mandate to regulate culture and conduct risks for entities providing financial services in or from the Dubai International Financial Centre (DIFC), and conduct risk is one of the three key regulatory priorities set out for 2021 and beyond in DFSA’s 2021-2022 Business Plan.1
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