DFSA announces temporary regulatory relief measures to support DIFC financial services community

The Dubai Financial Services Authority (DFSA), the independent regulator of banking, wealth & asset management, capital markets, and insurance in Dubai International Financial Centre (DIFC), today announced a package of temporary and proportionate regulatory relief measures to support the DIFC financial services community during the current exceptional operating environment and over the period ahead.

The measures are intended to assist regulated firms in continuing to support clients and markets, during the current circumstances, pending their conclusion.

Mark Steward, Chief Executive of the DFSA, said, “DIFC firms have demonstrated great resilience and financial strength during this exceptional period. The DFSA wishes to provide assistance to firms, on request, as a bridge to the resumption of normal trading and has developed a framework to provide temporary regulatory flexibility across a range of areas for those seeking DFSA authorisation and for existing authorised firms. These measures will ease operational challenges while ensuring our high regulatory standards continue to be met. We will continue to review the situation, as it unfolds, and will provide additional measures to assist firms, if needed, including assistance in returning to normal trading conditions.”

The DFSA’s relief initiatives include targeted, temporary flexibility across a number of areas, including authorisation, licensing, and administrative requirements, with flexibility where appropriate in application and supervisory timelines.

They also cover governance and staffing arrangements, reflecting evolving staff location dynamics and the continued integration of remote working practices, as well as regulatory reporting and supervisory processes, including extended timelines, to allow firms additional capacity to manage operational challenges and prioritise critical activities, in addition to implementation timelines for selected regulatory initiatives where postponement would not undermine regulatory outcomes.

These measures are intended to be risk based, proportionate, and time limited, and will be applied in a manner that reflects the nature, scale, and complexity of individual firms.

The DFSA emphasised that regulatory standards and supervisory expectations remain unchanged. Any relief provided will be temporary, subject to appropriate governance and oversight, and designed to support compliance and resilience rather than dilute regulatory requirements.

The DFSA will continue to closely monitor financial and operational conditions, maintain active supervisory engagement, and take action where necessary to safeguard the integrity and reputation of the DIFC’s financial services framework.

The DFSA is committed to working constructively with the DIFC financial community, other UAE authorities, and international partners to ensure the continued strength, resilience, and global standing of the DIFC – as the leading international financial centre in the Middle East, Asia and South Asia (MEASA) region.

WAM