DFSA Announces Temporary Regulatory Relief Measures To Support The DIFC Financial Services Community

(MENAFN- Mid-East Info)

DFSA introduces temporary regulatory relief measures to support new firms seeking DFSA authorisation and existing regulated firms in Dubai International Financial Centre Measures will provide flexibility for firms to continue to meet our high regulatory standards during this exceptional operating environment and over the period ahead, enabling them to continue to serve their clients and markets

Dubai, United Arab Emirates, April 2026: 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.”

Headline Areas of Relief:

The DFSA's relief initiatives include targeted, temporary flexibility across a number of areas, including:

Authorisation, licensing, and administrative requirements, including flexibility where appropriate in application and supervisory timelines Governance and staffing arrangements, reflecting evolving staff location dynamics and the continued integration of remote working practices Regulatory reporting and supervisory processes, including extended timelines, to allow firms additional capacity to manage operational challenges and prioritise critical activities 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.

Regulatory Standards Remain Unchanged

The DFSA emphasises 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.

The Dubai Financial Services Authority (DFSA) is the independent regulator of financial services conducted in and from Dubai International Financial Centre (DIFC), a purpose-built financial free zone in Dubai, UAE. The DFSA regulates and supervises financial services firms and markets in DIFC. These include asset managers, banks, custody and trust services, commodities futures traders, fund managers, insurers and reinsurers, traders of securities and fintech firms. The DFSA is also responsible for the registration and oversight of Registered Auditors and Audit Principals in DIFC, including their continuing compliance with registration criteria and conduct of audits of Public Listed Companies, Authorised Firms, Authorised Market Institutions and Domestic Funds. We supervise exchanges and trading platforms for both conduct and prudential purposes, overseeing an international securities exchange (Nasdaq Dubai) and an international commodities derivatives exchange (Gulf Mercantile Exchange). The DFSA is also responsible for supervising and enforcing anti-money laundering and countering the financing of terrorism requirements applicable in DIFC. Please refer to the DFSA's website for more information.

Mark Steward was appointed Chief Executive of the Dubai Financial Services Authority (DFSA) in May 2025. Mr Steward served as the Executive Director of Enforcement and Market Oversight at the UK's Financial Conduct Authority (FCA) from 2015. He was also the Chair of the FCA's Market Policy Committee, and from December 2021, he was Executive Director of the FCA's International Division. Prior to joining the FCA, Mr Steward served at the Hong Kong Securities and Futures Commission (SFC) as an Executive Director with responsibility for the Enforcement Division. Before joining the SFC, Mr Steward held several senior positions with the Australian Securities and Investments Commission (ASIC) and was most recently Deputy Executive Director, Enforcement at ASIC. Formerly, Mr Steward was Chair of the International Organisation of Securities Commissions' (IOSCO) Multi-lateral Memorandum of Understanding Monitoring Group.

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