Dubai Financial Services Authority introduces whistleblowing regime
The Dubai Financial Services Authority has launched a regulatory regime for whistleblowing that applies to all DFSA-regulated entities operating in or from the Dubai International Financial Centre.
The regime is the first of its kind to be introduced by a financial service regulator in the UAE and provides enhanced legal protection for persons who report misconduct internally within DFSA-regulated entities or externally to their auditor, the DFSA or a law enforcement agency, the authority said in a statement on Thursday.
The move aims to improve the whistleblowing culture and increase transparency regarding how regulatory concerns are assessed and handled, and if appropriate escalated, the statement said.
A DFSA-regulated entity must put in place measures that protect the identity of the whistleblower and protect them from retribution.
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