DFSA rolls out temporary relief to support DIFC firms
Temporary measures aim to help firms manage disruption while maintaining standards
Dubai: Dubai’s financial regulator has moved to ease operational strain on firms in the Dubai International Financial Centre, introducing temporary regulatory relief measures aimed at maintaining market stability while preserving oversight standards.
The Dubai Financial Services Authority said the package will support both new firms seeking authorisation and existing regulated entities navigating current operating conditions. The measures are designed to give firms more flexibility to manage day-to-day requirements while continuing to serve clients and markets.
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Targeted flexibility across key areas
The relief framework covers several operational pressure points, including licensing processes, staffing arrangements and reporting timelines. Firms may benefit from adjustments to application and supervisory timelines, along with greater flexibility in governance structures reflecting evolving workplace models.
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.
Regulatory reporting requirements will also see extended timelines, giving firms additional capacity to focus on critical functions during the period. Selected regulatory initiatives may be deferred where delays do not affect core outcomes.
The approach is calibrated, with each measure applied based on the size and complexity of individual firms.
Regulatory expectations remain firmly in place, with the authority emphasising that the relief is temporary and will not dilute compliance requirements.
Mark Steward, Chief Executive of the DFSA, said the move is intended to help firms bridge a period of disruption while maintaining stability. "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 regulator said it will continue close supervision of financial and operational conditions, working with firms to ensure stability across the centre. Any relief granted will be time-bound and subject to oversight, with the objective of supporting resilience without compromising the integrity of the DIFC framework.
