Míchel Sánchez's side qualified for the Champions League for the first time in the club's history
The Dubai Financial Services Authority (DFSA) on Thursday launched its regulatory regime for Whistleblowing which applies to all DFSA-regulated entities operating in or from the Dubai International Financial Centre (DIFC).
It’s is the first of its kind to be introduced by a financial service regulator in the UAE.
The regulator said the regime 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.
It also aims to improve the whistleblowing culture in these entities by increasing transparency around how they handle regulatory concerns, assess them and, where appropriate, escalate. Importantly, a DFSA regulated entity must also put in place measures to protect the identity of the whistleblower and safeguard them from suffering any detriment.
“Whistleblowers form a key part of a firm’s ability to detect, identify and escalate issues of misconduct, and the required whistleblower policies and procedures play an important role in encouraging appropriate disclosures. We expect all regulated entities to be ready to discuss and demonstrate the application of their policies and procedures when engaging with the DFSA,” said F. Christopher Calabia, CEO of the DFSA.
The regulator has set up a specific DFSA Whistleblowing email address – whistle@dfsa.ae – where a regulatory concern can be reported directly to it regardless of whether an internal report has been made.
Changes were made to the Regulatory Law 2004 to enhance the legal protection provided to persons who report suspected misconduct internally within the entity or externally to their auditor, the DFSA or a law enforcement agency
ALSO READ:
It said any information reported to the DFSA is treated confidentially and will respond to that report within 28 working days of receiving it. This would include an initial assessment of the report and potential requests for further information.
waheedabbas@khaleejtimes.com
Míchel Sánchez's side qualified for the Champions League for the first time in the club's history
The Tractor Boys finish the season on 96 points – just one fewer than champions Leicester - to go from the third tier to the first in successive seasons
A third win in a row pushed the Bengaluru side to seventh place on the points table
The World Food Program is one of the many humanitarian groups trying to get aid into Gaza
In Porto Alegre, the capital of Rio Grande do Sul, the Guaiba lake broke its banks, flooding streets
Khan, 53, who became the first Muslim mayor of the British capital in 2016, has pledged to build more social housing
Charlie Appleby and William Buick team up to win the prestigious English Classic for the second time in three years following Coroebus in 2022
A UNESCO report found that journalists and news outlets reporting on environmental issues dealt with about 750 attacks in the past 15 years