Regulatory Alerts2018-04-18
DFSA Consultation Paper No. 120 – Proposed Changes to the Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Regime – Phase 2
The Dubai Financial Services Authority has released Consultation Paper No. 120 to implement Phase 2 amendments to its Anti-Money Laundering, Counter-Terrorist Financing and Sanctions regulatory framework. The proposed amendments introduce updated risk-based approaches, enhanced due diligence requirements for higher-risk jurisdictions, and revised record-keeping obligations for regulated entities. Regulated firms must submit written comments to the DFSA by 20 May 2018 ahead of final rule implementation.
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