DFSA Notice of Consultation Paper Release – Fixed Penalty Notices

The Dubai Financial Services Authority has released Consultation Paper No. 149 to propose a standardized framework for issuing Fixed Penalty Notices against regulated entities and individuals. The paper details the specific regulatory breaches subject to fixed penalties, establishes clear monetary thresholds, and outlines the administrative appeal process. Regulated firms must submit written feedback on these proposed measures by 17 July 2023 to influence the final regulatory amendments.