Amended DIFC law to enhance regulation and attract investors

The DIFC Laws Amendment Law 2014, which amends the Regulatory Law 2004 and various other laws related to the Dubai International Financial Centre, is expected to give a new boost the financial services business from DIFC. The Amendments that will come to effect on August 21 makes a number of significant changes to the Dubai Financial Services Authority’s (DFSA’s) regulatory regime and investment laws. They are an important step in simplifying and improving the structure and procedures for decision making and review of DFSA decisions. They will also strengthen DFSA supervisory and enforcement powers, and improve the supervisory oversight of auditors.