New DIFC laws and rules now available on DFSA website

The Dubai Financial Services Authority (DFSA) today announced a major update to the DFSA website at www.dfsa.ae. Firms and institutions who intend to operate within the Dubai International Financial Centre (DIFC) can now log on and read 12 completely new Laws that will apply within the DIFC, as well as the details of 13 new DFSA Rulebook modules.

Mr Phillip Thorpe, Chief Executive Officer of the DFSA, announced the release of the Laws and Rulebook modules. 'The 12 new Laws have been drafted by the DFSA to world-class standards, using the best examples of legislation from around the globe. They are clear and concise, and will provide certainty as to the rights and obligations of the financial institutions and other companies who will operate in or from the DIFC', Mr Thorpe said.'These Laws will require the institutions that become part of the DIFC to operate to the highest standards, and will allow for the DFSA to regulate to those same standards', Mr Thorpe said.

'Any institution or firm that intends to become part of the DIFC vision is now able to log onto our website at www.dfsa.ae and read the Laws and Rules that will govern their operations. We encourage firms to read these documents carefully and become familiar with the standards that will be expected within the DIFC', Mr Thorpe said.

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